Evaluation of the Profitability of Technical Analysis for Asian Currencies in the Forex Spot Market for Short-Term Trading
Main Article Content
Abstract
Technical analysis has garnered an unprecedented amount of interest among short-term traders in the Forex spot market over the past couple of decades. The main purpose of this study is to examine the profitability of technical analysis as applied to three active Asian currencies in the Forex spot market for short-term trading. This study also tests the relationship between various related parameters of currency trading such as Maximum Drawdown, Time in Position, Dealt Lots, Trading Charges and profitability. It covers ten currency pairs, including ten foreign exchange rates of three active Asian currencies in the Forex spot market (the Japanese Yen, Singaporean dollar, and Hong Kong dollar), five time frames involving Intra-day timeframes, and ten technical indicators (5 leading and 5 lagging). The study covers a period of three months running from April 10, 2012 through July 10, 2012. The results indicate that technical analysis is profitable for Asian currencies as attested by the fact that all the currency pairs, time frames and indicators have yielded trading profits in the Forex spot market.
Downloads
Download data is not yet available.
Article Details
How to Cite
Adariani, M. R. (2014). Evaluation of the Profitability of Technical Analysis for Asian Currencies in the Forex Spot Market for Short-Term Trading. AU-GSB E-JOURNAL, 5(2). Retrieved from http://www.assumptionjournal.au.edu/index.php/AU-GSB/article/view/469
Section
Articles
This work is licensed under a Creative Commons Attribution 4.0 International License.
The submitting author warrants that the submission is original and that she/he is the author of the submission together with the named co-authors; to the extend the submission incorporates text passages, figures, data, or other material from the work of others, the submitting author has obtained any necessary permission.
Articles in this journal are published under the Creative Commons Attribution License (CC-BY What does this mean?). This is to get more legal certainty about what readers can do with published articles, and thus a wider dissemination and archiving, which in turn makes publishing with this journal more valuable for you, the authors.