45 Years in Wall Street by William D. Gann

45 Years in Wall Street — a revision of the stock trading seen through the technical analysis by one of the giants of the mid 20th century’s financial traders and the great contributor to the cause of the mechanical analysis in trading William  D. Gann. He was one of the first trading writers and the author of the quite popular indicators — Gann Lines, Gann Fan and Gann Grid. This book was written when Gann was already a more than a successful trader and acknowledged expert in his profession, the only objective of this book was to share his enormous experience with other traders. Despite this book being about stock trading and some of the methods being somewhat outdated, it can still be considered a great book to understand the most fundamental aspects of the technical analysis and the market trends.

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Below you can read the reviews of the book and also submit your own review about 45 Years in Wall Street by William D. Gann.

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2 Reviews

  1. RedHat:

    William Delbert Gann’s “45 Years in Wall Street” is an extremely boring book. The book could do with some up gradations regarding the illustrating as even the time series descriptions are given as: Monday 10.8, Tuesday 9.5, Wednesday 9.7, Thursday 10.2, Friday Holiday etc. The information could be presented in a much better way using a statistical chart. In addition to this, his 3 Point Rule is not adequately described. The only part interesting to read is the first chapter as the writer has given advice in the form of some rules but even these can be read on any book reviews without having to actually buy the book.
    Overall, it does not make for an interesting read, is hardly informative and even the paper quality is bad in spite of the high price of the book.

  2. chdir:

    The final version of Gann’s cycles-based system was actually presented in his book “45 Years in Wall Street” published in 1949. Though, in 1951, he did come out with a revised edition of the commodities book he published earlier, “45 years in Wall Street” is popularly regarded as his last book. As he had always been doing, once again Gann gave investors many modern methods to diminish the damage caused by wrong forecasting. His theory was based on the cycle behavior leading to its extension, contraction, inversion or skipping. He presented 24 golden rules which gave his readers lessons on the management of their money and the risks involved as well as the latest trends and exit techniques which were all accustomed to the present scenario.
    Though he never openly revealed his forecasting methods, he was never shy to reveal that all his methods were camouflaged in his writings. In accordance to Gann’s style of writing, even this book was divided into two levels. The first level is extremely critical and outlines the principles of swing-trading. The second level can be understood by analyzing the periodical behavior of time, price and geometry with respect to the market and he has also provided some important dates. Gann has presented the details for understanding his time and price models in all his books and major courses with the “Tunnel through the Air” being the only exclusion from the list.
    Unexpectedly, the prediction’s in the book for the early 1950’s turn out to be the part where the author loses the plot. Gann predicted that the post war scenario would lead to a depression comparable to the Great Depression which took the world by storm in 1930. In contrast to the predictions made using his cycle model, the market actually sharply rose and the master became a victim of faulty forecasting himself! Even then, those who followed the path recommended by Gann were not bound to lose money during the inversion of 1953 as his swing-trade methods were self-correctional.
    This book will look great in anybody’s library and will provide sound advice for all types of investors.