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Early in my career I used to waste a lot of time trying to defend technical analysis and Gann. Mostly because being in Chicago, the floor traders thought they were gods. It wasn't until I was able to show them what their average win was and how they only made money because of the edge, that many of them realized they weren't the great trader they thought they were.
My favorite trick was to show these traders that at $7.00 a trade, most of them were losers. Many of them never learned why they made money. The failure rate from the floor to the electronic platform is staggering.

Even in the Gann community I still find people attacking others.

It's almost like a religion to some.

I find this Aussie group friendly and knowledgeable.

Just to let you know where I come from, I have no ego when it comes to Gann analysis and trading. I am constantly trying to get better. This is why I get up at 1 am to go to the Aussie stock forum. My wife and 3 daughters make sure that my ego stays checked.

As a trader and analyst I welcome all comments and criticisms. I usually try to stick with facts that I have verified. I think I have survived in this business because of one rule I try to follow:

1. I am as good as my last trade.

Gann analysis is just a tool for me. It's what gives me my edge.

The way I look at it I'm somewhere between a guy who digs ditches all day then makes Gann charts at night and a professional who has access to order flow. I'm better than the latter, but can't beat the guy holding the cards.

When I trade, I let the charts take me to the zones where I anticipate activity, but actually pull the trigger when I see the order flow at this zone and have a lean.

I've learned this in 26 years, the markets trade toward size not Gann angles, moving averages, etc., etc. So when there is size on the bid in my zone, I buy. I've seen Gann traders get killed just putting an order where a Gann angle is suppose to be. Just like I've seen Elliott wave traders get killed putting an order on a Fib number.

Look at how many times an angle or Fib number has been penetrated, then regained. The novice Gann trader puts an order in ahead of time without knowing the order flow at the angle. The professional reads the order flow at the angle. If Level II shows that there are 1000 shares bid on the Gann angle at $50.00 and 10,000 shares at $49.75. Guess what, the angle won't hold.

As a professional I work my order this way. Size has to be there because I am not big enough to stop the market. If I miss the bottom so what. I can always get in when the market regains the angle.

Anyway, this is how I trade. When I analyze to set up the trade, I throw everything I can into finding out where, when and why the market may go to a certain point, then wait for my lean to show up. If size doesn't come in, then I won't trade it. My charts look like maps of latitude and longitude. I want something to happen in the box I have created. That something is order flow. As I said before, time and sales prints the chart, not the other way around.

I guess you can say that I analyze to find entry zones, but I only enter when I know my out. If I can't find an out, I don't get in. Take a look at how many entry signals people have versus their exits. Most poor traders have sloppy exits.

Gotta start my work now. Talk to you soon.

Good Trading,

Jim

The best thing I ever learned is that time and sales print the chart.

<blockquote data-quote="Hyerczyk" data-source="post: 290544" data-attributes="member: 16117">Early in my career I used to waste a lot of time trying to defend technical analysis and Gann.&nbsp; Mostly because being in Chicago, the floor traders thought they were gods.&nbsp; It wasn&#039;t until I was able to show them what their average win was and how they only made money because of the edge, that many of them realized they weren&#039;t the great trader they thought they were.&nbsp; My favorite trick was to show these traders that at $7.00 a trade, most of them were losers.&nbsp; Many of them never learned why they made money.&nbsp; The failure rate from the floor to the electronic platform is staggering.Even in the Gann community I still find people attacking others. It&#039;s almost like a religion to some.&nbsp; I find this Aussie group friendly and knowledgeable. Just to let you know where I come from, I have no ego when it comes to Gann analysis and trading.&nbsp; I am constantly trying to get better.&nbsp; This is why I get up at 1 am to go to the Aussie stock forum.&nbsp; My wife and 3 daughters make sure that my ego stays checked.As a trader and analyst I welcome all comments and criticisms.&nbsp; I usually try to stick with facts that I have verified.&nbsp; I think I have survived in this business because of one rule I try to follow:1.&nbsp; I am as good as my last trade.Gann analysis is just a tool for me.&nbsp; It&#039;s what gives me my edge. The way I look at it I&#039;m somewhere between a guy who digs ditches all day then makes Gann charts at night and a professional who has access to order flow. I&#039;m better than the latter, but can&#039;t beat the guy holding the cards.When I trade, I let the charts take me to the zones where I anticipate activity, but actually pull the trigger when I see the order flow at this zone and have a lean. I&#039;ve learned this in 26 years, the markets trade toward size not Gann angles, moving averages, etc., etc.&nbsp; So when there is size on the bid in my zone, I buy.&nbsp; I&#039;ve seen Gann traders get killed just putting an order where a Gann angle is suppose to be.&nbsp; Just like I&#039;ve seen Elliott wave traders get killed putting an order on a Fib number.Look at how many times an angle or Fib number has been penetrated, then regained.&nbsp; The novice Gann trader puts an order in ahead of time without knowing the order flow at the angle.&nbsp; The professional reads the order flow at the angle.&nbsp; If Level II shows that there are 1000 shares bid on the Gann angle at $50.00 and 10,000 shares at $49.75.&nbsp; Guess what, the angle won&#039;t hold.&nbsp; As a professional I work my order this way.&nbsp; Size has to be there because I am not big enough to stop the market.&nbsp; If I miss the bottom so what.&nbsp; I can always get in when the market regains the angle.&nbsp; Anyway, this is how I trade.&nbsp; When I analyze to set up the trade, I throw everything I can into finding out where, when and why the market may go to a certain point, then wait for my lean to show up.&nbsp; If size doesn&#039;t come in, then I won&#039;t trade it.&nbsp; My charts look like maps of latitude and longitude.&nbsp; I want something to happen in the box I have created.&nbsp; That something is order flow.&nbsp; As I said before, time and sales prints the chart, not the other way around.I guess you can say that I analyze to find entry zones, but I only enter when I know my out.&nbsp; If I can&#039;t find an out, I don&#039;t get in.&nbsp; Take a look at how many entry signals people have versus their exits.&nbsp; Most poor traders have sloppy exits.Gotta start my work now.&nbsp; Talk to you soon.Good Trading,Jim&nbsp; <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile&nbsp; &nbsp; :)" loading="lazy" data-shortname=":)" />The best thing I ever learned is that time and sales print the chart.</blockquote>

[QUOTE="Hyerczyk, post: 290544, member: 16117"] Early in my career I used to waste a lot of time trying to defend technical analysis and Gann. Mostly because being in Chicago, the floor traders thought they were gods. It wasn't until I was able to show them what their average win was and how they only made money because of the edge, that many of them realized they weren't the great trader they thought they were. My favorite trick was to show these traders that at $7.00 a trade, most of them were losers. Many of them never learned why they made money. The failure rate from the floor to the electronic platform is staggering. Even in the Gann community I still find people attacking others. It's almost like a religion to some. I find this Aussie group friendly and knowledgeable. Just to let you know where I come from, I have no ego when it comes to Gann analysis and trading. I am constantly trying to get better. This is why I get up at 1 am to go to the Aussie stock forum. My wife and 3 daughters make sure that my ego stays checked. As a trader and analyst I welcome all comments and criticisms. I usually try to stick with facts that I have verified. I think I have survived in this business because of one rule I try to follow: 1. I am as good as my last trade. Gann analysis is just a tool for me. It's what gives me my edge. The way I look at it I'm somewhere between a guy who digs ditches all day then makes Gann charts at night and a professional who has access to order flow. I'm better than the latter, but can't beat the guy holding the cards. When I trade, I let the charts take me to the zones where I anticipate activity, but actually pull the trigger when I see the order flow at this zone and have a lean. I've learned this in 26 years, the markets trade toward size not Gann angles, moving averages, etc., etc. So when there is size on the bid in my zone, I buy. I've seen Gann traders get killed just putting an order where a Gann angle is suppose to be. Just like I've seen Elliott wave traders get killed putting an order on a Fib number. Look at how many times an angle or Fib number has been penetrated, then regained. The novice Gann trader puts an order in ahead of time without knowing the order flow at the angle. The professional reads the order flow at the angle. If Level II shows that there are 1000 shares bid on the Gann angle at $50.00 and 10,000 shares at $49.75. Guess what, the angle won't hold. As a professional I work my order this way. Size has to be there because I am not big enough to stop the market. If I miss the bottom so what. I can always get in when the market regains the angle. Anyway, this is how I trade. When I analyze to set up the trade, I throw everything I can into finding out where, when and why the market may go to a certain point, then wait for my lean to show up. If size doesn't come in, then I won't trade it. My charts look like maps of latitude and longitude. I want something to happen in the box I have created. That something is order flow. As I said before, time and sales prints the chart, not the other way around. I guess you can say that I analyze to find entry zones, but I only enter when I know my out. If I can't find an out, I don't get in. Take a look at how many entry signals people have versus their exits. Most poor traders have sloppy exits. Gotta start my work now. Talk to you soon. Good Trading, Jim :) The best thing I ever learned is that time and sales print the chart. [/QUOTE]

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