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

Hyerczyk, James A.

Softcover

ISBN 10: 0471253332 ISBN 13: 9780471253334

Publisher: Wiley, 1998

Synopsis

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.

About this title

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 Back Cover

the first book to bring a controversial—and highly successful—charting method down to earth

Among the most popular and effective forecasting methods, Gann Theory is also one of the most misinterpreted and misunderstood. In this groundbreaking new book, expert technician James Hyerczyk offers a clear, accessible, and thorough examination of Gann principles and applications, and presents—for the first time anywhere—a comprehensive look at incorporating Gann Theory tools into real-time trading systems.

"If you want to learn about Gann methods, this book is the place to start. Jim Hyerczyk has produced a no-nonsense primer that should be on every student's shelf. Plus, the book addresses the practical challenge of putting the methods to work."—Glen R. Ring, Editor/Analyst, Trends in Futures

"A thorough, comprehensive book, painstakingly researched, extensive in documentation, and meticulous in detail. A precise narrative of the trading strategies of an extraordinary forecaster of more than market movements."—Leslie Rosenthal, Managing Partner, Rosenthal Collins Group

"Hyerczyk has distilled the Gann mystique and mumbo jumbo into easy-to-understand dialogue. This is a must have reference for the beginner as well as the experienced trader. After years of study, I gained one new very profitable insight from Chapters 2 and 3."—Jim Twentyman, President, Custom Charts

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, in complete 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 guidelines 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.

Edition details

• Publisher: Wiley
• Publication date: 1998
• ISBN 10: 0471253332
• ISBN 13: 9780471253334
• Binding: Paperback
• Language: English
• Edition number: 1
• Number of pages: 320