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Developing and assessing an intelligent forex rolling forecasting and trading decision support system for online e-service: Research Articles
Source
International Journal of Intelligent Systems archiveVolume 22 , Issue 5 (May 2007) table of contents
Pages: 475 - 499
Year of Publication: 2007
ISSN:0884-8173
Authors
Lean Yu
Institute of Systems Science, Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing 100080, China and School of Management, Graduate School of Chinese Academy of Sciences, Beijing 100039, China
Shouyang Wang
School of Management, Graduate School of Chinese Academy of Sciences, Beijing 100039, China and College of Business Administration, Hunan University, Changsha 410082, China
Kin Keung Lai
College of Business Administration, Hunan University, Changsha 410082, China and Department of Management Sciences, City University of Hong Kong, Tat Chee Avenue, Kowloon, Hong Kong
Wayne W. Huang
Department of Management Information Systems, College of Business, Ohio University, Athens, Ohio 45071, USA
Publisher
John Wiley & Sons, Inc. New York, NY, USA
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abstract index terms collaborative colleagues
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10.1002/int.v22:5
ABSTRACT
An effective foreign exchange (forex) trading decision is usually dependent on effective forex forecasting. In this study, an intelligent system framework integrating forex forecasting and trading decision is first proposed. Based on this framework, an advanced intelligent decision support system (DSS) incorporating a back-propagation neural network (BPNN)-based forex forecasting subsystem and Web-based forex trading decision support subsystem is developed, which has been used to predict the directional change of daily forex rates and provide intelligent online decision support for financial institutions and individual investors. This article describes the forex forecasting and trading decision method, the system architecture, main functions, and operation of the developed DSS system. A comparative study is conducted between our developed system and others commonly used in order to assess the overall performance of the developed system. The assessment results show that our developed DSS outperforms some commonly used forex forecasting and trading decision systems and can provide intelligent e-service for forex traders to make useful trading decisions in the forex market. © 2007 Wiley Periodicals, Inc. Int J Int Syst 22: 475–499, 2007.
INDEX TERMS
Primary Classification: H. Information Systems H.4 INFORMATION SYSTEMS APPLICATIONS H.4.2 Types of Systems Subjects: Decision support (e.g., MIS)
Additional Classification: H. Information Systems H.3 INFORMATION STORAGE AND RETRIEVAL H.3.4 Systems and Software Subjects: Performance evaluation (efficiency and effectiveness) H.3.5 On-line Information Services Subjects: Web-based services
General Terms: Design, Management, Performance
Collaborative Colleagues:
Lean Yu: colleagues
Shouyang Wang: colleagues
Kin Keung Lai: colleagues
Wayne W. Huang: colleagues