Die Anwendbarkeit der Behavioral Finance im Devisenmarkt

Abstract

Behavioral finance theory is used for the foreign exchange market to show, that the profit of a typical trader is mainly due to the higher number of correct positions. Using behavioral finance the amount of loss trades is larger than 60%, however the individual gains are larger than the losses leading to an overall profit. Using this approach we show, that behavioral finance rules can be quantified and a trading outperformance is possible just using 24h spot rates and 3 day volatilities. --behavioral finance,technical trading,foreign exchange market,FX,anchoring,regret avoidance