or It seems to be that... Gann died with about $100K in his pocket and hundred of millions divested into various foundations, conjecture, conjecture http://www.elitetrader.com/vb/showthread.php?s=&postid=894690#post894690
When Gann died he probably gave all his money to Buffet. Buffet pretended that he was a brilliant investor but i fact he showed bit by bit the fortune that Gann made. And in this way a new legend is in the making. All we need is Buffet to die to make the legend complete. I'm in fact very succesful and rich also, but i gave my money to aliens. They are now building a paradise on Saturnus. In 2 centuries humans will reach Saturnus and will see what has been done with my money. From then on i will be a legend too. And smart publishers will create my story and sell books and sofware with the "spike500" trading system. History repeats itself.
Ah, the need to believe. If it wasn't or isn't Gann it would be something else .. Nostradamus and his 6 uneven steps to making a fortune in trading. But its all good. The 95% majority should visit every cul de sac and treat every distraction with unrelenting energy. All this confusion and fantasy will always be here as an excellent background for the few big winners.
If I told you that I wrote a system, and I know that a trader that uses it is making money, and I did not...would you believe me?
Yes, because some people are not able to trade, although they can be excellent in developping systems. Developping and trading are two completely different things.
And I am a trader more than a system developer too! (I think you must find something that fits your personality. I have fav's and then there is some of my stuff, I do not like)
A friend who is verifiably an accomplished trader with many dollars at risk in the marketplace and has a decent track record uses Gann analysis. I said "you're kidding right?" They actually got pissed and thought I was an asshole which may be true. I suppose the point is if you're making money using something then why argue?
Speaking of folks that claim to be great traders and yet seem to spend most of their time doing web chats, newsletters, seminars etc, LBR gets a suspicious look from me. My question i ask myself is, if this peson is so great at trading why do all the chit-chat about subscription services etc. case in point.....LBR. Linda talks a great story about how great she is, but i WONDER. If i am correct, i believe Jake Bernstein was not a great trader either, but i do not seem to remember where he claimed he was. I would venture that Linda calls more trades than she actually takes about entering. We all know that paper trading is a lot easier to do. To take actual trades and chit-chat on a web site, type, etc is a bit much. Could it be she has made so much money trading that she just feels compelled to teach? That seems unlikely, considering the services she offers, such as .....FOLLOW ME and this and that trade, that is not teaching...... PS..as an aside. If someone was indeed a really good trader and wanted to make more money it seems it would be more logical to do OPM, other peoples money is probably less aggravation than putting up with subscribers cancelling etc. A hedge fund can get what 2% for fees and 20% of the profits? That seems better than nickle and diming a lot of newbies for a couple hundred a pop....But i do not claim to know anything about opm, i never have done it. i trade for 3 persons for now...ME myself and I...
If you find a good system and you are making money. You can wait and compound it up by just trading your own money, or try to get additional income from it while it works, to goose your capital to trade with...thats all. Its like using leverage...Plus do not trade alone....it gets boring.