本研究嘗試尋求一套降低交易風險、提高利潤的股票市場投資策略，根據基本面分析與八二法則，選定台積電和聯電作為研究對象，並結合了Joseph Granville的移動平均線(MA)、J.W. Wilder的趨向指標理論(DMI)和籌碼集中度於2019年八月至2022年二月期間進行買賣策略。研究結果顯示，本組研究優化每個波段買進與賣出時機，提高勝率，卻也壓縮總報酬率。最後，根據年化報酬率績效依序為移動平均線指標(MA)、本組研究、半導體類指數最後為大盤指數。;This study tries to come up with a stock investment strategy to lower trading risks and improve profits. TSMC and UMC were selected as the research samples based on the fundamental analysis and 80/20 rule. Using Granville′s moving averages (MA), Wilder′s DMI and chip concentration index to conduct buying and selling strategies during August, 2019 to February 2022, we find that while the research portfolio optimizing the buying and selling timing can increase the winning rate, but it limits the total return. Finally, the result shows that the group based on MA index performs best in IRR and followed by our research portfolio, then the Semiconductor index, and the broad market index (TWSE) performs the least.
