W. D. Gann

[asiatrader98]

losses
“When you make one to three trades that show losses, whether they be large or small, something is wrong with you and not with the market. Your trend may have changed. My rule is to get out and wait.”

– W. D. Gann, How to Make Profits in Commodities

[asiatrader98]

First loss

“Reduce trading after first loss; never increase.”

– W. D. Gann, How to Make Profits in Commodities

[asiatrader98]

What to do when you have a series of losses

“When you make one to three trades that show losses, whether they be large or small, something is wrong with you and not with the market. Your trend may have changed. My rule is to get out and wait.”

– W. D. Gann, How to Make Profits in Commodities
 

[asiatrader98]

Risk

” It is well for any trader to remember that when he makes a trade, he can be wrong. Then how can he correct that mistake? By putting on a stop loss order and take a small loss. Unless a man knows the risk he is going to take and how much of his capital he can risk on a trade, he should never start speculating.”

– W. D. Gann, 45 Years in Wall Street
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[Maxforce]

Forecasting

Every movement in the market is the result of a natural law and a Cause which existed long before the Effect takes place and can be determined years in advance. The future is but a repetition of the past, as the Bible plainly states,

"The thing that hath been, it is that shall be;
and that which is done is that which shall be done;
and there is no new things under the sun"

- Eccl. 1:9