Comparison of selected trading strategies in the forex market
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F23%3A94569" target="_blank" >RIV/60460709:41110/23:94569 - isvavai.cz</a>
Result on the web
<a href="https://ibimapublishing.com/communication-of-international-proceedings/" target="_blank" >https://ibimapublishing.com/communication-of-international-proceedings/</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.5171/2023.4116623" target="_blank" >10.5171/2023.4116623</a>
Alternative languages
Result language
čeština
Original language name
Comparison of selected trading strategies in the forex market
Original language description
This paper examines the possibilities of combining basic technical indicators, when selected combinations of technical indicators are tested using MetaTrader 4 software using demo accounts. The reason for the processing was the growing interest in the foreign exchange market. For the survey, 4 technical indicators were selected: simple moving average exponential moving average stochastic, and relative force index. The objective of this paper was to answer two research questions: What business strategy (i.e., what combination of technical indicators) will lead to the highest profitability? And - which day of the week is favorable for forex trading? The paper found that the combination of the technical indicator, the exponential moving average together with the Stochastic oscillator leads to the greatest profitability and that Tuesday is the most profitable day for the execution of trades. The recommendation for increasing profitability in this trading strategy is to study supports and resistances, and then set stop loss (SL) and take profit (TP) based on them.
Czech name
Comparison of selected trading strategies in the forex market
Czech description
This paper examines the possibilities of combining basic technical indicators, when selected combinations of technical indicators are tested using MetaTrader 4 software using demo accounts. The reason for the processing was the growing interest in the foreign exchange market. For the survey, 4 technical indicators were selected: simple moving average exponential moving average stochastic, and relative force index. The objective of this paper was to answer two research questions: What business strategy (i.e., what combination of technical indicators) will lead to the highest profitability? And - which day of the week is favorable for forex trading? The paper found that the combination of the technical indicator, the exponential moving average together with the Stochastic oscillator leads to the greatest profitability and that Tuesday is the most profitable day for the execution of trades. The recommendation for increasing profitability in this trading strategy is to study supports and resistances, and then set stop loss (SL) and take profit (TP) based on them.
Classification
Type
D - Article in proceedings
CEP classification
—
OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
41st IBIMA Conference Proceedings
ISBN
979-8-9867719-2-2
ISSN
2994-2403
e-ISSN
2767-9640
Number of pages
9
Pages from-to
212-220
Publisher name
International Business information Management Association
Place of publication
Granada Spain
Event location
Granada Spain
Event date
Jan 1, 2023
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—