Summary
A no nonsense book that explains the Gann method clearly with many examples including walk-thru of the trades (both good and bad ones) and how orders are adjusted. One of the earlier books on trading that truly gives the reader a simple working trading method.
Book Information
The W.D. Gann Method of Trading: A Simplified, Clear Approach
Written by Gerald Marisch
Rating
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Average
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Review
Unlike other trading books that are filled with a lot of words, this one stands out with minimal amount of text. The rules of the trading method is clearly explained in the first few sections. Charts are used to help explain the rules so there is no misunderstaning at all.
Two third of the book focuses on actual examples in applying the trading method. How each trade is managed. It is not only educational. It covers the most important part of trading that is often ignored by other trading books – how to manage your position.
The rest of the book contains excellent advice to beginners as well as seasoned traders. If you have never read Gann’s original writing, the quotes from his original work is priceless. For example,
– How much money you can lose?
– “What could have been” does not make profits. “What already has been” does.
The most difficult thing for beginners to accept is that they have to practice and read a lot of charts manually, as suggested by the author, to become proficient with the method. For many people who expected the book hands them a magical formula on a silver platter would be very disappointed.
One problem with this book is that there are a lot of typos. It is a common problem for books published by niche publishers at the time. It makes it difficult from time to time to follow the writing when comparing the information against the charts. It is also this kind of quality issues with the trading books that gave technical analysis such a bad name years ago.
It should not be difficult to find used copy of this book on the net or probably from a library.
