HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%
XM information and reviews
XM
82%

How to grow from newspaper seller to MT indicator creator


Are you trying to find motivation and change your life? It's a sign for you to start acting! If a boy from a large, almost penniless family managed to live a better life, you can surely too! Who was this boy? His name was William Gann. He is considered to be one of the most remarkable traders of all time. He worked out several trading techniques. His trading strategies are still widely used, long after he died in 1955. In MetaTrader, you can find some indicators named after him! Sounds impressive? Let's have a look at his path to a prosperous life.

When it All Started

William Delbert Gann, or just W. D., as he was called in his young ages, was born in 1878 in Texas and lived around the cotton warehouses in Angelina County. He was the first of 11 children in a cotton-farming family. The financial state of his family influenced his education a lot. Instead of school, he had to work on the farm and in the cotton warehouse, where he learned about commodity trading. As a result, he didn't graduate from grammar school and never attended high school.

Believing in Hard Work

In his teen years, William worked as a news butcher on the passenger train. Selling the newspapers, food, and cigars, a 13-year-old boy trained to be quick-witted, aggressive, and able to deal with people of all kinds. These traits served him well later in his career.

Gann's education was formed around the Bible. His mother, a very religious person, wanted W.D. to become a minister. The future millionaire was raised under the pressure of the Methodist church.

However, he didn't protest. The way things were going pretty satisfied him. He went to church every Sunday and found out that his interpretation of the Bible much differed from the minister's. Gann read the Holy Scripture devotedly and discovered time cycles, significant number repetitions, astrology basics, and many other pivotal factors that helped him earlier in his job and life in general.

Many years later, Gann became famous as the mathematically gifted finance trader, using geometry, astrology, and ancient mathematics to predict events in the financial markets and history itself.

Decisive Turning Point

Going back to the story, at the age of 25, he moved to New York City to work in a major Wall Street Brokerage house. How could he do it? He was hungry for knowledge. Two years before his move, Gann began his trading career working in a brokerage in Texarkana while attending business school at night. At that time, W. D. Gann made his first commodity trade in cotton. This small profit marked the beginning of the fascinating 53-year journey full of trading, writing, researching, and success.

Deep Expertise – Striking Results

In 1906, W. D. changed NY to Oklahoma City. He continued trading for himself and work as a broker for a brokerage firm. Handling an enormous number of clients' accounts, Gann was able to study the cause of other traders' success and failure. He found that level of success depended on the range of knowledge traders had when entering the market. Over 90% of those who weren't prepared properly or had a lack of study in trading lost their money as a rule.

Gann himself wasn't good enough as well, so he lost a lot. Later on, he admitted that his trading was based mostly on three primary triggers – hope, greed, and fear. To break this toxic circle, he devoted ten years to study natural laws of periodical recurrence and how to apply them to market moves. Look a little bit weird? W. D. didn't think so.

There was a thought in Gann's head about rising and falling in stocks and commodities indeed repeat after a while. His passion for mystics and numerology led him to England, Egypt, and India. The legendary trader came there to gain knowledge in ancient mathematics, geometry, and astrology. After extensive research, he discovered the Law of Vibration, which enabled Gann to predict the behavior of stock and commodity prices accurately to the cent.

Trading Techniques and Indicators

As you can see, Gann found the most appropriate mathematical and geometrical approaches to use in forecasting price moves in the market. He created indicators that relied on geometrical angles. The fact that price moves occurred in predictable geometric cycles made Gann guess that the resulting angles act as support or resistance on the chart. And he was right.

If you want to use Gann's approach in your trading, bear in mind that these indicators work better when applied to bigger time frames. Higher accuracy in the longer term – you can find it in the Gann set of indicators.

Moreover, Gann accumulated several trading techniques for profitable trading. Feel free to use them when you make a trade. They're still useful even though Gann passed away 66 years ago.

Gann's Trading Rules

What is the Secret?

The comprehensive market overview made by Gann still allows modern traders to plan the market moves right. What is the mystery behind such relevancy? Maybe the strong personality and continued belief in what should be done? Or quality research and constant moves toward the clear goal? Or all in one? Don't be afraid and give it a try! You can apply this approach to your work on Forex and see the results. FBS is always by your side.

#source


RELATED

Using leverage safely in Forex trading

The use of leverage is undeniably popular in the forex space. This is largely due to its ability to increase a trader’s potential return on investment...

Correlation, Portfolio Returns, and Strategic Hedging

The dance of correlations within a portfolio is a crucial subject for both experienced and budding investors. At the heart of investment strategies, understanding correlation not only protects the portfolio...

Choosing a broker to trade the financial markets

Choosing a broker to help you navigate the financial markets is an important decision that can significantly impact your trading experience. There are several key factors...

What are the advantages of Metatrader 4?

To manage trades in the most optimal way requires a robust trading platform like MetaTrader 4. Released almost 20 years ago, MT4 has gone on to become the most popular platform in the world...

Is a forex hedging strategy effective?

Forex hedging is a risk management strategy that offsets potential losses by taking opposite positions. It involves placing trades that serve as a safeguard against adverse price movements...

A Complete Guide to Social Trading

Social trading has been rising in popularity among young traders due to the transparency that comes with this option. Like its name suggests, social trading can be thought...

Understanding Lot Sizes: Balancing Risks and Rewards in Forex Trading

The trading arena operates in a complex ecosystem that is constantly balancing between potential gains and inherent risks. At the core of this delicate equilibrium is the crucial concept of lot sizes...

How patience impacts your trading psychology

Trading psychology plays a major role in determining trading success. It refers to the emotions, behaviours, and various other aspects of a trader’s character that may impact their trading decisions...

When can you trade forex?

The forex market is the world’s largest financial market. It operates around the clock, 5 days a week, providing abundant trading opportunities to traders globally...

Trading Secrets: Mastering Trends, Breakouts, Pullbacks, and Corrections with Trading Volumes

Embarking on the journey of financial market trading – be it in Forex, stocks, commodities, or the crypto market – requires more than just an understanding of the basics...

Deciphering Market Corrections: A Guide to Identification and Trading

To navigate the intricate realm of financial markets successfully, one must possess not only a profound understanding of market trends but also the ability to discern subtle indicators that herald significant shifts...

Call on commodities - All that glitters is Gold

Considered a 'safe-haven asset', gold has the highest appeal for investors in the tough times of natural disasters, wars, monetary policy change...

Is Forex More Risky Than Crypto?

In the ever-evolving financial markets, forex and cryptocurrency trading stand as two distinct realms, each offering unique opportunities and risks...

Exploring Online Cryptocurrency Trading: Features, Advantages, and Cryptocurrencies

The year 2008 heralded a pivotal moment in financial history, witnessing the birth of the cryptocurrency market. It was in August of that year that the domain bitcoin.org was registered...

Factors affecting the Forex Market

There are several external factors that affect Forex currency trading. These factors include trade reports, GDP, unemployment, international trade, manufacturing etc...

How to trade forex currency pairs?

Forex gives so many possibilities: a trader can work with shares, commodities, currencies and so on. There is a great diversity in every category, and a trader can choose...

Ten Forex Trading Tips for 2023

The foreign exchange (forex) market is the largest and most liquid financial market in the world, with a turnover of more than USD 5 trillion every day...

How much does Metatrader 4 cost

Venturing into the world of forex trading requires research and knowledge. This becomes particularly important when choosing your trading platform and the broker through whom you’ll trade...

Can you trade forex forever?

Forex trading has become increasingly popular as a means of becoming financially independent. This is largely due to how easy it’s become to access the forex market...

Should I Have A Trading Plan?

A trader without a trading strategy is not a trader. Whatever the strategy is, it will help you make sense of the chaos in the markets. In this article, we will tell you what a trading strategy...

FP Markets information and reviews
FP Markets
81%
IronFX information and reviews
IronFX
77%
T4Trade information and reviews
T4Trade
76%
Exness information and reviews
Exness
76%
Just2Trade information and reviews
Just2Trade
76%
FXNovus information and reviews
FXNovus
75%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.