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Gann's early books as starter for education

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bootross

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Hi,

Basically the title of this thread is my question.

I'm interested in starting trading on a regular basis and have picked up 3 of Gann's books: Truth of the Stock Tape, Wall St Stock Selector and New Stock Trend Detector, as the basis for learning about trading.

These books follow a common theme of tape reading and the skills needed to do it properly. I have previously seen Safety in the Market's mechanical trading system however didnt have too much success with it.

So, to those who have read these books, what are your opinions and are they appropriate for a beginner?

Thanks,
 
bootross said:
Hi,

Basically the title of this thread is my question.

I'm interested in starting trading on a regular basis and have picked up 3 of Gann's books: Truth of the Stock Tape, Wall St Stock Selector and New Stock Trend Detector, as the basis for learning about trading.

These books follow a common theme of tape reading and the skills needed to do it properly. I have previously seen Safety in the Market's mechanical trading system however didnt have too much success with it.

So, to those who have read these books, what are your opinions and are they appropriate for a beginner?

Thanks,
Click to expand...

Bootross,

Personally, I've never really been a fan of Gann but if you are interested in "tape reading" can I suggest reading anything by Richard Wyckoff or Tom Williams. Master the Markets by T.Williams is a very good read IMO.

As a beginner, I think you are definately focusing on the right elements for success trading IMO (ie. Underlying Price Action).

Oh... I've just remembered another book which you might want to consider - Techniques in Tape Reading by V.Graifer. Good book overall, even though the author comes across as a bit egotistic!!!!

Hope this helps.....

Chorlton
 
Guppy's Trend Trading has been my most useful book investment to date, closely followed by Bedford's Charting Secrets.
 
Chorlton said:
Bootross,

Personally, I've never really been a fan of Gann but if you are interested in "tape reading" can I suggest reading anything by Richard Wyckoff or Tom Williams. Master the Markets by T.Williams is a very good read IMO.

As a beginner, I think you are definately focusing on the right elements for success trading IMO (ie. Underlying Price Action).

Oh... I've just remembered another book which you might want to consider - Techniques in Tape Reading by V.Graifer. Good book overall, even though the author comes across as a bit egotistic!!!!

Hope this helps.....

Chorlton
Click to expand...

Tom Williams Tradeguider Material Is well presented.

Tom Williams went through the Wyckoff Course in I think the 1960's

Williams volume Spread Analysis

Is Wyckoff's "Four Qualities" The spread/range of a BAR, The close of a Bar,
The volume ( effort ) that produced a bar and the position of a bar in the context of the other bars adjacent and in the context of a trend channel/trading range.

A bar can be any time frame could be minute or even a year .

I thought the Graifer book reasonably good as well

Tradeguider is focused on
Wyckoff's Principle of effort Vs result

motorway
 
bootross said:
Hi,

Basically the title of this thread is my question.

I'm interested in starting trading on a regular basis and have picked up 3 of Gann's books: Truth of the Stock Tape, Wall St Stock Selector and New Stock Trend Detector, as the basis for learning about trading.

These books follow a common theme of tape reading and the skills needed to do it properly. I have previously seen Safety in the Market's mechanical trading system however didnt have too much success with it.

So, to those who have read these books, what are your opinions and are they appropriate for a beginner?

Thanks,
Click to expand...

Hi bootross
There has been some comparative discussion of Gann and other methodologies, including price/volume analysis elsewhere on ASF, try a key word search via the search tool, you will be pleasantly surprised by the amount of information available, good luck with it!
 
Gann's books are best studied with charts. Although i have found it hard to get historical data on stocks from the 1920's. I like Gann's 'The New Stock Trend Dectector" and recommend drawing a large bar chart using the data provided in this book. Then you can work through Gann's analysis of Chrysler stock over 1925 to 1935 period.

The next bit of Gann i found helpfully to my trading is the Commodity Course in particular his discussion of swing trading techniques. I found by learning how to construct a swing chart and using stop orders to get in and out of the trades i could make good money.

If your starting out using Gann ignore all the fancy stuff like 144 overlays and sq of 9. Focus on following the trend with swing charts and minimising risk with stop loss orders.
 
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