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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