Forty-Five Years in Wall Street [Hardcover]

W. D. Gann (Author)

Product Details

• Hardcover: 148 pages
• Publisher: Lambert Gann Pub (August 1949)
• Language: English
• ISBN-10: 0939093138
• ISBN-13: 978-0939093137
• Product Dimensions: 9.1 x 6.3 x 0.9 inches
• Shipping Weight: 12.8 ounces (View shipping rates and policies)
• Average Customer Review: 3.5 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #2,131,383 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

23 of 24 people found the following review helpful:

5.0 out of 5 stars Timeless wisdom!, December 11, 2004

By 

Steven Phillips (Ada, OK United States) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Forty-Five Years in Wall Street (Hardcover)

"45 Years in Wall Street" was actually Gann's last book, written in 1949 (he issued a revised edition of his commodities book in 1951), in which he presents the final version of his cycles-based system. Since cycles can extend, shorten, invert, and skip, Gann offers several trend-following methods to minimize damage from forecasting mistakes and to keep one on the right side of the markets. His excellent, 24 trading rules afford advice on money management, risk management, trend-following, trade entry, and exit techniques that are currently valid.

Gann always openly hinted that the details for his celebrated forecasting method were concealed in his writings. This book, as is all others written by Gann, is written on two levels. The first level is expository and describes how to swing-trade. The arcana submerged in the second level can be approached by examining the recurrent themes about time, price, and geometry, and the dates which he feels are significant. Details for Gann's time and price model are contained in all of his books and major courses with the exception of "Tunnel Through the Air."

Strangely, the weakest part of this book is the final chapter with Gann's predictions for the early 1950s. Gann felt that 1953 was going to be a year of post-war depression rivalling the great depression of the 1930s. His cycle model indicated a strong down-turn which actually became a cyclical inversion where the market turned sharply upwards - such are the hazards of public forecasting! However, Gann followers should not have lost money during the 1953 inversion, because their swing-trade methods would have self-corrected this forecast error.

Whatever level one chooses to tackle, this book is a worthwhile addition to anyone's trading library.

Addendum, March 29, 2011, projected important stock market dates: 01/24/11; 03/18/11; 03/28/11; 04/25/11; 06/20/11; 07/07/11; 08/08/11; 09/06/11; 10/26/11; 11/21/11; 12/12/11; 01/17/12; 03/12/12; 04/09/12; 05/07/12; 06/11/12; 07/23/12; 08/20-23/12; 11/05/12; 11/26/12; 12/12/12; and 01/17/13.

13 of 17 people found the following review helpful:

3.0 out of 5 stars Worth buying even if just for the 24 never failing rules, November 9, 1999

By 

"thetrendisyourfriend" - See all my reviews

This review is from: Forty-Five Years in Wall Street (Hardcover)

Most famous for his 24 never-failing rules - basically follow the trend, use stop losses, and never average down. Also includes lots of useful Dow data back to 1912 - with swing charts, etc.

17 of 24 people found the following review helpful:

1.0 out of 5 stars Expensive and Boring, June 7, 2005

By 

Flavio Cipparrone "Opt_Prof" (Sao Paulo, Brasil) - See all my reviews
(REAL NAME)   

This review is from: Forty-Five Years in Wall Street (Hardcover)

This book is extremely boring. It has time series descriptions as: Monday 10.8, tuesday 9.5, wednesday 9.7, thursday 10.2, friday holiday etc... that could be better presented by a chart. Also his 3 point rule is poorly described. The paper quality is also poor. Only the first chapter is interesting because of the rules (some advice) that you can read cheaply on one of the book reviews.
Overall, boring, tedious, expensive and not very informative.