Canterbury Students Win 2022 CMC Markets University Trading Challenge With Top Strategies | Scoop News – Scoop

The 2022 University of Canterbury Trading Challenge,
hosted by CMC Markets in association with the UC Investment
Society, has concluded with three stellar young traders
coming out on top.

This year over 100 students
competed in the contest, and those who earned the highest
return on investments (ROI) over the four weeks were awarded
cash prizes. The champions were Nicholas Hau in first place,
Ann Ng in second place, and Liang Ma in third
place.

The annual competition gives students the
opportunity to put various investment strategies they have
learnt to the test. They try their hands at a range of
financial derivative instruments such as cryptocurrencies,
gold and silver commodities, forex and shares using virtual
funds on the CMC Markets online trading
platform.

First year Bachelor of Law student, Nicholas
Hau, took the top spot with an impressive 186% ROI. This was
his first year competing and had signed up with a passion
for business and trading.

“The experience reminded
me how important it is to stay calm when in the middle of a
trade. I used the inverse market strategy – going short on
oil and natural gas which had peaked due to the
Russia/Ukraine conflict during the current bear market. I
also went short Nasdaq as tech was getting hit harder with
higher valuations post-Covid.”

Ann Ng, a second year
Commerce student, came in second with a 101% ROI. She
decided to throw her hat in the ring after she saw the
competition advertised online.

“I mainly traded on
US stocks and my strategy was using the Moving Average
Convergence/Divergence strategy (MACD). Through this
competition, I learned that using MACD wasn’t enough to
maximize the profits so I’ll need to learn how to use
other indicators,” she said.

Despite this, she
thought the MACD tool on the CMC Markets platform was the
most useful tool for her strategy.

Third place winner
and Masters of Applied Finance and Economics student, Liang
Ma, achieved a 91% ROI. This was his second year competing
in the UC Trading Challenge.

“I’ve been trading
for over six years, so this competition was a reflection of
my day-to-day trading life. However, knowing that previous
winners all had over 200% returns in a month’s time, meant I
had to adjust my normal leverages to a higher level and be
cautious about my risk management, so that my entry points
and profit takings were as precise as possible.”

Ma
said he’s had experience with the CMC Markets Meta Trader
4 (MT4) terminal. “I still did my own technical analysis
on MT4, but I found it quite useful that the CMC platform
can automatically recognize chart patterns.”

Head of
Trading at the UC Investment Society, Hamish Proctor said,
“The competition is always a great way to introduce
students to the world of trading and finance. It involves
students with a range of trading experience, studying all
types of degrees, who are competing at the mercy of the
markets for prizes thanks to CMC.”

CMC Markets
General Manager NZ, Chris Smith, said the current turbulence
in the markets due to global events made it a tricky
competition this year.

“I was impressed with the
students’ ability to navigate the volatility and adapt
their strategies based on what was happening in the markets.
They proved to be a clever group of
traders.”

“It’s exciting to draw in first time
traders as well as those with experience under their belts,
showing just how popular investing is becoming amongst the
younger generations. I particularly enjoyed giving them a
tutorial on the ins and outs of the CMC online platform.
It’s gratifying to see these students develop their skills
and we’re proud to be empowering them through these
events,” he
added.

© Scoop Media

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