1st Edition

Profitmaking Speculation In Foreign Exchange Markets

    294 Pages
    by Routledge

    280 Pages
    by Routledge

    Technical analysis is not supposed consistently to beat financial markets. In this book, however, Professors Surajaras and Sweeney seek to establish that carefully chosen rules can produce substantial and consistent measured profits over time. The authors also call into question the traditional academic wisdom that markets in general are efficient.

    Part I: Introduction 1. Introduction Part II: Tests and Data 2. Previous studies of technical analysis 3. Statistical tests of risk-adjusted profits from trading rules - the X-test 4. Selecting trading rules Part III: Performance of Technical Strategies 5. Equally-weighted portfolios of currencies, with rules tailored for each currency 6. Variably-weighted portfolios of currencies, with rules tailored for each currency 7. Speculating on indexes of currencies 8. Speculating with a portfolio upgrade approach 9. Comparing the performances of technical trading strategies Part IV: Stability of Speculative Profits 10. The stability of speculative profits Part V: Implications for Policymakers 11. Implications for the theory and practice of financial economics 12. Implications for policymakers.


    Richard J. Sweeney and Patchara Surajaras