| dc.description.abstract | The amount of your pension has a significant impact on your quality of life in retirement, and relying solely on social insurance and corporate pensions is not enough to achieve an ideal retirement. Therefore, it is important to start your retirement plan early in your working life and choose the right pension investment vehicle. There are a variety of investment instruments, among which futures are derivative financial instruments and are not usually considered as an option for pension investment instruments. However, there is no superiority or inferiority of the instrument itself, and the TAIEX futures, has low transaction costs, high financial leverage, high liquidity and the ability to trade long or short. The study also examines whether the advantages of the TAIEX futures and the risks associated with the reduction in leverage can be used as a tool for long-term stable returns？ This study uses the TAIEX futures period data from 2003 to 2022 as a sample, and uses technical indicators such as stochastic index (KD), relative strength index (RSI), moving average (MA), exponential smoothed moving average (MACD), deviation ratio (BIAS), and Bollinger Bands to Simulates and optimizes trading strategies with 1x, 1.5x and 2x leverage multiples and compares them back to the return and risk of holding a TAIEX (including interest) over the long term. The empirical results show that for 1x leveraged trading strategy, long-term holding of the TAIEX (including interest) is the best choice, while for 1.5x and 2x leveraged trading strategies, the Bollinger Bands are the best performers. Especially for the 1.5 times leveraged trading strategy, it can not only control the risk within the acceptable risk range, but also can magnify the investment return. Therefore, it is recommended that the Bollinger Bands′ 1.5x leveraged long-short strategy be used as a tool for pension accumulation. | en_US |