📖William Gann
Master Your Emotions
Master your emotions to master the market.
The greatest enemy of the investor is himself. Fear, greed, regret, and pride cause more losses than any economic event. Master your emotions to master the market.
🏠 Everyday Analogy
📖 Core Interpretation
W.D. Gann highlights that many investment mistakes are psychological, not analytical. Managing behavior under stress is as important as finding ideas.
💎 Key Insight：Emotional control is the foundation of investment success.
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❓ Why It Matters
In volatile markets, fear and greed push investors to buy high and sell low. A behavioral framework reduces avoidable, self-inflicted errors.
🎯 How to Practice
Pre-write decision rules, slow down trades during stress, and separate market emotion from business facts before adjusting positions.
⚠️ Common Pitfalls
Following crowd emotion at extremes
Mistaking confidence for certainty
Forcing trades to quickly recover losses
📚 Case Studies
1
Accumulation After Great Depression Low (1932)
Gann applied Master Charts to the 1932 bottom, noting price-time balance and support zones in leading industrial stocks and the Dow after massive liquidation.
✨ Outcome：Gradual accumulation around identified support led to substantial gains as the 1930s recovery rally unfolded.
2
Riding Out the 1929 Crash (1929)
An investor following Gann’s discipline avoids margin, holds quality rails and industrials through the 1929–32 collapse instead of panic selling.
✨ Outcome：Capital draws down heavily but positions are preserved, allowing recovery and profit as markets rebound in the mid‑1930s.
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