EN
The aim of the paper is to evaluate the effectiveness of selected investment strategies applied to the Polish stock market. In the research there were taken into consideration strategies formulated in accordance with the technical trading rules, the essence of which is to determine the moments of the generation of buy or sell signals of the financial instruments. In the paper different systems of moving averages were calculated for the selected indexes on the Warsaw Stock Exchange. To evaluate the effectiveness of comparable investment strategies, there are applied common measures of portfolio management quality created on the base of the Capital Asset Pricing Model, as the Sharpe ratio, Treynor ratio, Jensen's index, Sharpe alpha and measures of market timing.