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Furthermore, each of the moving averages I tested suffered from the same marked diminution in returns in recent decades as I found with the 200-day average. Science 210: 1033-35. sub. (17) Culture. You can choose different MA types, set different periods, establish the minimum difference for the cross, etc.

ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVERPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY.

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