Pattern, Price & Time: Using Gann Theory in Trading Systems (Wiley Trading Advantage)

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9780471184454: Pattern, Price & Time: Using Gann Theory in Trading Systems (Wiley Trading Advantage)

The first book to bring a highly controversial charting method down to earth for today's futures traders.

W. D. Gann continues to be one of the most controversial figures in technical analysis. Considered eccentric, abstruse, and even mystical by some, his techniques, which combine geometric figures with time and price, have nevertheless been successfully adapted and used by several generations of traders. This book explains how Gann concepts apply to all major markets. It shows readers how to integrate Gann theory into modern computer charting techniques and real-time systems.

JAMES A. HYERCZYK (Palos Park, Illinois) is President of JAH Research and Trading. He is also chief technician for a large futures research and publishing company.

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From the Publisher:

Although he died in 1955, W.D. Gann continues to be one of the most controversial figures in technical analysis. Considered eccentric, abstruse, and even mystical by some, his techniques, which combine geometric figures with time and price, have nevertheless been successfully adapted and used by several generations of traders.

From the Inside Flap:

Every trader has one simple wish: to be able to predict the future of the markets. Many forecasting methods have been used over the years, but none has ever been quite as reliable or effective as Gann Theory. In this groundbreaking new book, James A. Hyerczyk's exhaustive examination of this complex theory and its underlying tenets offers an unprecedented first-time look at the intricacies of incorporating Gann Theory tools into real-time trading systems. A popular, but often misunderstood and misused charting method, Gann Theory was developed by one of the first and most successful technical market analysts-and one of the most controversial figures in the field. A brilliant mathematician, W. D. Gann was widely known for his sharp analytical skills, revolutionary ideas, and unrelenting determination to create a perfect trading system. Endowed with an uncanny ability to foresee events, he shared this unique talent by issuing annual market predictions of major moves and exact support and resistance levels. Prophetically, in 1929, he even warned traders of an upcoming crash: "September-one of the sharpest declines of the year is indicated.... A 'Black Friday' is indicated and a panicky decline in stocks with only small rallies." Admired for his keen insight and accurate glimpses into the future, Gann nonetheless was-and is-dismissed by many as being too unconventional, too eccentric and abstruse. However, despite his detractors, his theories remain fundamentally solid, and have been successfully adapted by several generations of traders. Perhaps the most significant of these theories, Gann Theory, is based on the premise that specific geometric patterns and angles have unique characteristics that can be used to predict price action. By combining these patterns with price and time, and by finding a vital balance between these three primary indicators, future market movement can be forecasted. In this authoritative text, expert technician James Hyerczyk presents a straightforward overview of Gann Theory, its basic principles, and its proper applications in creating profitable trading systems. Hyerczyk examines, incomplete detail, such essentials as the Master chart, percentage retracements, minor trend indicators, swing chart and angles trading, and cycle dates. In addition, Hyerczyk includes clearly defined, practical guide-lines for determining the best combinations of pattern, price, and time to initiate successful trades. The only professional book to explain how to put Gann tools to practical use, Pattern, Price & Time explains how to incorporate these instruments into real-time trading systems for all the major markets, including commodities, financial futures, foreign currencies, and the S&P 500. It also outlines methods for integrating Gann Theory into modern computer charting techniques and systems using current software, such as TradeStation¯(r), SuperCharts¯(r), and Excel¯(r) spreadsheets. Pattern, Price & Time offers a breakthrough look at Gann tools and their use in real-world trading systems, filling a longstanding void in Gann Theory literature. This is a must read for anyone looking to thoroughly understand-and successfully implement-one of the most important and powerful forecasting methods in existence.

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