📖William Gann
Behavioral Bias Awareness
Know your behavioral biases to avoid them.
Know the common behavioral biases that trap investors: anchoring, confirmation bias, loss aversion, and herding. Awareness is the first step to prevention.
🏠 Everyday Analogy
📖 Core Interpretation
W.D. Gann treats survival as the first objective. Limiting permanent capital loss, controlling leverage, and avoiding single-point failure are prerequisites for long-term compounding.
💎 Key Insight：Awareness of biases is the first defense against them.
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❓ Why It Matters
A single large drawdown can erase years of progress. Risk control is not timidity; it is the operating system that keeps compounding alive.
🎯 How to Practice
Define downside scenarios before entry, cap position size, avoid fragile leverage, and maintain liquidity so mistakes remain survivable.
⚠️ Common Pitfalls
Equating volatility with all forms of risk
Oversized positions without an exit plan
Using leverage to compensate for uncertainty
📚 Case Studies
1
Post‑Crisis S&P 500 Bottom and Recovery (2009)
Following the 2007–2009 bear market, the S&P 500 bottomed near 666, then advanced and repeatedly respected Gann-type retracements around 33%, 50%, and 62.5% during the early recovery phase, offering structured buy‑the‑dip entries for systematic traders.
✨ Outcome：Investors applying Gann percentage retracements scaled into the new bull market with defined risk, improving entry prices versus chasing breakouts.
2
Pre-Crash Market Top Projection (1929)
Using Master Charts, Gann identified resistance levels in major U.S. indices before the 1929 peak, warning of unsustainable speculation near key angles and time cycles.
✨ Outcome：Positions were reduced or hedged; followers who acted avoided the worst of the 1929–1932 drawdown.
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