Trading is a zero sum game. Winners with smarts take money from losers without smarts.
One of the great ways to become a loser (and give your money to winners) is to fall for the con. One of the great cons is W.D. Gann who promoted a trading method subjectively built around all kinds of great sounding, yet unproven, “ideas”. Consider some chat forum posts that praise Gann:
Post #1
Well, I was in LA at the time and there was a large meta-physical bookstore called Bodhi Tree. I found 9 of the books and started reading other books that were related to the subject. Some of the subject [sic] I read are [sic] Astrology, Music (Acoustics), Physics, Kabbalah, I-Ching, Meta-physics and Hermetics. I think by then I read about 80-90 books, thanks to my speedreading. By then, I had a good idea about Law of Vibration. Gann Analysis and other topics started to connect. Well, I think it was around mid-1999, sacredscience.com opened up, I bought most of the courses there. First, they had a 1/2 price sale so I bought as much as I can in a limited time, also. I understood most of the stuff but I found a few more topics that I found interesting like Chaos Theory, Sacred Geometry and others.
Post #2
It’s part of cycles. Planets move in cycles, market has cycles, people has cycles…there’s no difference…Seriously, angles are largely a representation of market cycles. Drawing Astrological line are just like drawing a 1×1 line on your chart. They should be taken in the same manner. Separation of both creates mysticism and confusion. After looking deeply into Astrology, I found myself feeling stupid about separating it from the start.
This kind of talk with not make you money. Trend followers do not think like this. Rational people do not think like this. You can’t make money thinking like this! Avoid this kind of stuff and avoid giving your money to the winners in the great zero sum game.
More Gann nonsense:
Download the Adobe PDF Brief on Gann.
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