This is the second part in a ten part series on the science behind technical trading. Part one of the series can be found at the link below.
The Science Behind Technical Trading [Part One]
Continued from part one…
Technical trading: Modern studies
Early studies on the profitability of technical trading, as studied by Cheol-Ho Park and Scott H. Irwin in their paper entitled The Profitability of Technical Analysis: A Review had many limitations. However, modern studies conducted during the period 1988 to 2004 go some way to improve upon the limitations of earlier studies in their testing procedures.
But few studies manage to eliminate all negative factors. What’s more, as the volume of studies on the topic of technical analysis...
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