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Trading Safety in the Market & W.D. Gann.

Discussion in 'Shares' started by Tropo, 17th Jan, 2012.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    Alexander Elder, in his book Trading for a Living, has this to say about Gann:

    "Various opportunists sell "Gann courses" and "Gann Software." They claim that Gann was one of the best traders who ever lived, that he left a $50 million estate, and so on.
    I interviewed W.D. Gann's son, an analyst for a Boston bank. He told me that his famous father could not support his family by trading but earned his living by writing and selling instructional courses.
    When W.D. Gann died in the 1950s, his estate, including his house, was valued at slightly over $100,000.
    The "legend" of W.D. Gann, the giant of trading, is perpetuated by those who sell courses and other paraphernalia to gullible customers."

    more..... William D Gann
  2. wdongli

    wdongli Well-Known Member

    31st Mar, 2010
    He was not too bad since he could sell words for living. Selling words for market needs the sensational effects and could be very good business. Unfortunately most of retail market players have not the skills to sell the words. If we could not sell the words for living, we have to sell different labor values or have enough bond type investement for enough cash inflow.

    The market is a place if you are active you have to choose to sell or buy. Most of us choose to buy and get used to buy. Unfortunately we could buy all without thinking the environment- and self-awareness; we could not ask anyone else to build up our own last defensive lines; we could not just buy for any fortune if we could not sell for more.

    Most of retail market players buy things too easy and sell too quick. Fortune never stays in quick hand too long. I am an white collar worker and I have to do things quickly even sometimes I have to come back and take more time to correct what mistakes I have made.

    When I was designing my system architecture after system review for a month, I had to cut off the system into different layers and parts first and then went down to the hardware level to design the hardware drivers.

    Most of retail market players are insane(not completely insane since they still hold their spades) and expect fortune without doing good enough job in the market. Some lucky boys will be lucky enough who can grip on a big chance, lock the profit, and run away.

    Most of retail market players who have keep to trade without business minds, just lost too much. You are insane and then no any words or systems could save you.

    We all could make a mistake in the market in our market life. Without matter it is big or small but if it just push your basket with most of your eggs down to ground, you would be forced to think about Harakiki very seriously: living with the shame that everything is broken up or stopping it with the disappointment of the failed quick-rich causes.

    Life is good. Money is not all. Put your loves first and then make more for them and yourselves. After that you would have the risks to commit harakiki. If you can get so far, sell everything you could for more but never for less. I like to sell words more than play in the market. However the life tells me as an Engineer, I do need enough cash inflow from some bond type investment and then I could read and write for enjoyment.

    Not too bad I got three years as a full-time market student but the mental framework is still not good enough. Feel OK since I still have something which I could sell. Some of my friends just could not understand why I could hold properties for 15 years. They are part of my bonds and my value outside of the labor value. They could run by themselves and why you destroy your own base of the future? What if the house crashes down to ground? Possible but who can be sure? Of course I could change mind if my mental frame work could be better.

    Don't forget in money sense, most of us have very limited labor value. You get $100,000 per year? It is just about value at $1.7 millions if you could find a job always. Don't forget your labor value could diminish very quickly after a age such as 55, 60, or 70. All of us need to find something to buy and sell if we really want to be independent and can work at our own will and never allow our own human mistake to destroy what we have got in hands.

    I did wonder why Livermore committed suicide at his 60s, and Buffett and Soros could fire others at their 70s or 80s. If no the failure since April 2012, I simply just wonder but now I have sorted out. Livermore is a gamblers with some excellent gifts but you could get everything right in your calculation but God or something higher than us just want to see you have big trouble.

    To human kind, it is about the wars, social turmoil, and system crashes. To individual it is about any miscalculation in future. Each individual has to get enough financial buffers for his mistakes. You have to be fearful to the future without losing the guts to take the chances. It sounds contradictory but it is like anything in our life. You cannot get anything too much or too little.

    Before the future all of genius and bums have the choices. It is my choice to update my mental framework and then I can lock next $200,000 paper profit before it is burnt into ashes.
    Last edited by a moderator: 17th Jan, 2012