|
|
Application of technical analysis in trading on stock markets
KLAUSOVÁ, Kateřina
The aim was to create trading strategies in the stock inden NASDAQ Composite and comparing these trading strategies to yield market. The introductory chapters are discussed theories price behavior of the stock markets and methods to estimate future price developments. The main part of the theoretical part is focused on technical analysis and its tools. Technical analysis tools understand graphical analysis and analysis based on technical indicators, which are then used to create busi-ness strategy. In the practical part is first mentioned methodology for creating and evaluating business strategies. For creating business strategies have been selected tech-nical indicators, exponential moving average, Relative Strength Index, Com-modity Index Channel and Parabolic SAR. The last part is dedicated to a review of the trade policies compared to the overall market. For this investigation implies that none of these strategies has not been in business del-SIM period (2008-2012) able to overcome yield market. In all calculated based invest-ment strategies loss. Overcoming yield market has been only in the short term, in 2008, the most successful strategy was published strategy based on exponential moving ave-rage. This result helped the financial crisis in 2008, which caused the market to become a loss in the amount of $ 1,978.44 (ie 39.6%) while the loss in busi-ness strategies were lower. Another positive year was 2012, when managed business strategies established by the oscillator Commodity Channel Index (CCI) and trend indicator Parabolic SAR outperform the market. In both business strategist-ICH achieve higher profits than the market return. The results in the long term and are consistent with market efficiency, which states that no created business strategy will deliver higher returns than the market itself.
|
guest ::
