Courses Infomation

Filtered Waves. Basic Theory by Arthur A.Merrill

Forex Trading – Foreign Exchange Course

You want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

Arthur A.Merrill – Filtered Waves. Basic Theory

183 pages, illustrated. “Based on this simple but substantial base, the book presents and examines charts for every bull and bear market since 1898; it presents charts for the life expectancy of rallies and secondary reactions. Applications of the method to individual stocks, and other uses are described. The appendixes and a complete presentation of the Elliott Wave Theory.” FINE HARDCOVER, VERY GOOD DUST JACKET, signed by the author. Size: 8vo – over 7¾” – 9¾” tall.Bookseller Inventory # 023255

Review

I procrastinated buying this book because it was fairly expensive, but that was a mistake. Basically it covers the topic of wave counting and Dow Theory, but how to do it in a mechanical way. When I say wave counting, of course, I am referring to Elliot Wave Theory. Anyone who has taken a serious look at Elliot Wave will come to discover nobody who counts waves over any reasonable period of time on a chart will come to the same conclusion as anyone else. This book gives you a great method for making the entire process mechanical. I then went on with his concepts to develop software for Tradestation that counts waves (something that was not commercially available that I could find) and then developed a very successful mechanical trading program for the S&P from it. I laughed because I never imagined myself doing wave counting successfully as a mechanical systems trader. This is a great little book that is very straight forward and limited in scope; simplistic and powerful. Much of the book is dated however, as would be expected for a publishing date of 1977. I do recommend it for anyone who strives to build trading methodologies from solid numerical concepts and wants to learn different viewpoints for cyclical analysis in the stock market.

What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

Salepage : Filtered Waves. Basic Theory by Arthur A.Merrill

About Author

Arthur W. Merrill, 94, of Egg Harbor, died Tuesday, September 15, 2015, at Ministry Door County Medical Center.

He was born May 29, 1921, in Watertown, Massachusetts, the son of the late Arthur G. and Rosamond Jeanette (Buchan) Merrill. Art served his country in Europe shortly after the Normandy Invasion of WWII in the recon division of Patton’s army at the Battle of the Bulge. He attended Boston University where his football playing led to a $11,000 salary in professional football with the Boston Patriots. Art worked in sales for Hood and Son’s in their Farm Implement and Dairy Division. In his retirement, Art worked for the Alpine in Egg Harbor for many years.

On November 11, 1944, he married Eleanor Marion Sorenson in Milwaukee. They had met at a USO dance for the troops at Tuck Away Country Club in Milwaukee. She preceded him in death.

Survivors include his wife, Hannah of Egg Harbor and her family; his sister, Martha Wadleigh of Bellingham, Mass; two grandsons, Adam and Blaine; nephew, William Bebo of Sturgeon Bay; and other nieces and nephews.

Arthur was preceded in death by his parents, first wife, Eleanor; infant son; daughter, Jean Nickolson Merrill, step-grandson; sister, Ruth Kimball; and brother, Frank Merrill.

Graveside services with military honors will be held at 1:30 p.m. on Wednesday, September 23, 2015, at St. John Lutheran Cemetery in Valmy, 4911 Brauer Rd., Sturgeon Bay, WI 54235.

Arrangements have been entrusted to the care of Huehns Funeral Home in Sturgeon Bay. Condolences and guestbook signing may be offered at www.huehnsfuneralhome.com.