A Neural Network and Web-Based Decision Support System for Forex Forecasting and Trading

  • K. K. Lai
  • Lean Yu
  • Shouyang Wang
Conference paper

DOI: 10.1007/978-3-540-30537-8_27

Part of the Lecture Notes in Computer Science book series (LNCS, volume 3327)
Cite this paper as:
Lai K.K., Yu L., Wang S. (2005) A Neural Network and Web-Based Decision Support System for Forex Forecasting and Trading. In: Shi Y., Xu W., Chen Z. (eds) Data Mining and Knowledge Management. Lecture Notes in Computer Science, vol 3327. Springer, Berlin, Heidelberg

Abstract

This study presents a neural network & web-based decision support system (DSS) for foreign exchange (forex) forecasting and trading decision, which is adaptable to the needs of financial organizations and individual investors. In this study, we integrate the back-propagation neural network (BPNN)- based forex rolling forecasting system to accurately predict the change in direction of daily exchange rates, and the Web-based forex trading decision support system to obtain forecasting data and provide some investment decision suggestions for financial practitioners. This research reveals the structure of the DSS by the description of an integrated framework, and meantime we find that the DSS is integrated, user-oriented by its implementation, and practical applications reveal that this DSS demonstrates very high forecasting accuracy and its trading recommendations are reliable.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2005

Authors and Affiliations

  • K. K. Lai
    • 1
  • Lean Yu
    • 2
    • 3
  • Shouyang Wang
    • 2
    • 4
  1. 1.Department of Management SciencesCity University of Hong KongKowloon, Hong Kong
  2. 2.Institute of Systems Science, Academy of Mathematics and Systems SciencesChinese Academy of SciencesBeijingChina
  3. 3.School of Management, Graduate School of Chinese Academy of SciencesChinese Academy of SciencesBeijingChina
  4. 4.Institute of Policy and Planning SciencesUniversity of TsukubaTsukuba, IbarakiJapan

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