The Rare Writings of W. D. Gann

Author’s Note:

On June 6, 1878, in the small town of Lufkin, Texas, a cotton farmer named Sam Houston Gann became the father of a son he named William Delbert Gann. This child, known today as W.D. Gann, grew up to discover some of the most unique and accurate methods of market analysis ever known. The accuracy of this enigmatic man’s predictions was not only legendary among his contemporaries, but also has kept him at the forefront of most serious market students’ study for more than forty years after his death, on June 14, 1955.

I have spent years studying the works of W.D. Gann and am convinced that he deserves a position among history’s greatest market analysts. I have come to this conclusion not by relying on the reports of others because these can be very unreliable. I have proven it to myself by rediscovering many of the techniques Gann taught. That is ultimately what the reader of this material must do. Trading is not as easy a profession as many would like you to believe. It takes hard work, discipline, and at times a very strong stomach. But the rewards for this work can be tremendous. Trading is one of the few professions where you can have complete independence and still have almost unlimited wealth potential. Gann knew this and he worked very hard all his life to discover the techniques he used for his personal trading and which he wrote about in his courses. The presentation style of his writings reflects a general philosophy of leading those who were willing to do the necessary hard work to the path, but not to do all of the work for them.

In all fairness it must be pointed out that there is a disagreement today about whether Gann made his money trading or by selling his courses. One school of thought is that Gann’s trading success was not as good as his reputation would lead you to believe. Even his son stated that when Gann died he only left $100,000 in his estate and that he made his living selling courses. Without even relying on the content of the courses it is easy to find several fatal flaws with this argument. If Gann only made his living selling courses, then:

1. How did he make his living before 1931? He published his first course in 1931, at the age of 52. By then he had already established himself as a great trader.
2. Why did he publish he best works only months before his death? His “Master Charts” course was published in March, 1955. He died three months later. This does not seem like the work of a man motivated by money. In fact, the vast majority of his courses were written after World War II, in the last ten years of his life.
3. How did Gann make 286 trades over a period of 25 market days, of which 264 were profitable (92%). He did all trades in the presence of William Gilley, a “respected inspector.” During this month, he multiplied his margin by 1000%. The details of this are contained in Appendix B. There are many other documented examples of his trading skills. It must also be noted that Gann was in his 30s when these trades were documented. Are we to assume that his trading skills diminished over the next 45 years?

Those interest in astrology will be disappointed to know that there are very few records of the details of Gann’s birth, including the time. His birth certificate shows a “delayed” recording, meaning that there is no way of knowing the exact time of birth. The time of birth is important to astrologers because it allows them to set up the “houses” and to pinpoint the locations of the faster moving planets. Since Mercury completes a 360° cycle in 88 days, it moves 4° per day. Similarly, the Sun moves approximately one degree per day. It is no secret that Gann was an astrologer and a Freemason. Appendix C lists the books that Gann offered for sale for students interested in understanding his techniques. Many of these books are astrology books. However, it would be a mistake to place Gann’s techniques under the blanket category of astrology. He had a very broad based approach to markets and used many tools other than astrology.

The material presented in this book is a series of courses that Gann sold from the 1930s to 1950’s. These individual courses sold between $1,500 and $5,000 in the 1930’s when the dollar was worth ten times its current value.

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Appendices A and B are two promotional booklets that he distributed describing the services he offered. It is recommended that the reader start with those appendices to learn who Gann was and what he accomplished in his life. It will make reading the rest of the book much more interesting.

As you read through these lessons be aware that many of the techniques that Gann was teaching will not be fully understood with a single reading. His teaching style was to make general references to the techniques and not to provide a step-by-step explanation. So expect to apply some hard work and discipline.

Table of Contents:

1. Natural Resistance Levels and Time Cycle Points 

• United States Steel Corporation
• Time and Resistance Points According to Squares of Numbers
• Important Numbers for Resistance—12 to 100

2. How To Make Profits Trading In Puts And Calls 

• Spread or Straddle
• How to Use Puts and Calls in Place of Stop Loss Orders
• When to Buy Puts and Calls
• How to Trade Against Puts and Calls
• Kinds of Stocks to Buy Puts and Calls On
• Examples of Trading with Puts and Calls
• Rules for Buying Puts and Calls on Low-Priced Stocks

3. How To Sell Puts And Calls 

• Selling Calls to Get Short of the Market
• How to Protect Yourself in Selling Puts or Calls
• Buying a Put and Selling a Call at the Same Time

4. Forecasting 

• Major Time Cycles
• Rules for Future Cycles
• Forecasting Monthly Moves
• Forecasting Weekly Moves
• Forecasting Daily Moves
• How to Divide the Yearly Time Period
• Bull and Bear Calendar Years (the ten-year stock cycle)
• Important Points to Remember in Forecasting
• How to Make Up Annual Forecasts
• Master 20-Year Forecasting Chart
• Fast Moves and Culminations at Important Time Periods (parts of a circle—geometrical angles)
• Review of Dow Jones Industrial Stocks from 1896
• New York Stock Exchange Permanent Chart
• How to Trade
• Capital Required for Trading
• Pyramiding

5. Auburn Motors 

6. Soy Beans Price Resistance Levels 

• Active Angles and Degrees
• 24-Cent Moves or More

7. Coffee Santos; Coffee Rio Points 

8. W.D. Gann Mathematical Formula For Market Predictions

• The Master Mathematical Price Time and Trend Calculator
• The Great Cycle of the Square of 144
• Weekly Time Periods
• Monthly Time Periods
• Five Factors for Time and Price
• Strongest Points for Time and Price Resistance
• Triangle Points
• Squares in the Square of 144
• Where to Watch for Changes in Trend
• Hourly Time Periods
• Great Yearly Time Cycle
• Nine Spaces and Nine Time Periods
• Green Angles
• Strongest and Weakest Points
• How to Use the Master Square of 144
• Calendar Days and Market Days
• Leap Years
• How to Place the Master Chart Square of 144 on Charts

9. Method For Forecasting The Stock Market 

• Kind of Charts
• How to Forecast
• Time Rules for Forecasting Stocks
• Instructions for Forecasting the Stock Market
• How to Use Angles from Tops and Bottoms
• Rules for Angles from Bottoms
• Why Geometrical Angles Work on Stocks
• How to Use Geometrical Angles
• Vanadium Steel, Weekly High & Low Chart, Volume of Sales
• Monthly Volume Charts on Dow-Jones 30 Industrials from June 1921 to May 1930
• Fast Advances and Fast Declines
• What Rule to Use When in Doubt
• Master “12” Chart
• Square of Nine
• Six Squares of Nine
• The Human Body

10. Gann’s Personal Astrological Charts 131

Appendix A –Wyckoff Interview With WD Gann in 1909 

Appendix B –Promotional Booklet Issued by WD Gann in 1954 

Appendix C –List Of Books For Sale By WD Gann

The Rare Writings of W. D. Gann By Bradley F. Cowan