Gann? A said successfull trader of the last century.
There used to be a nice four pages mini-tutorial on this site, everything changes.
marketanalyst.com.au
Tbe be short, IMHO, trades are conducted by black boxes.
Literally hundred workstations per "trading room" using quantic programs with neural analysis are fighting against eachother and against classic TA traders.
Those TA traders mainly use widely available tools/analysis softwares/books... meaning that you can statistically predict in which conditions which action will take place.
Technical trading signals which worked 5 years ago can turn to the opposite today.
So, you have to abandon what you think to be a sophisticated analysis and go back to basics, basics being those basic trends the quantic traders cannot change.
Roughly said, in equities you would identify Fibonacci price mouvements (23%, 38%, 70%,...), in commodities Gann (25%, 50%, 75%,...)...
My opinion is that,
- if you can identify Fibonacci retracements, that instrument is traded with widely available tools, become a bait for the quantics
- if you can identify Gann, that instrument still is mainly in the hands of the commodity traders
- if you cannot identify either, you are tongue in cheek. <g>
Gold mostly follows Fibonacci, silver still is Gann.
Hence, better use Gann tools instead of others.
If black boxes could be made correct in decision trading, there soon would not be any market anymore. But there still are humans at the keyboards.
A successfull trader wouldn't even read two lines of the crap I wrote here above. ROFL |
