FOR cautious investors looking to remain on the sidelines and away from the stock market, Kenanga Investment Bank Bhd’s (KIB) KenTrade Trading Challenge 2 is a good alternative for those still looking to “make some money.”
Granted, it’s just virtual money – but to the participants of the challenge, it helps to improve one’s trading skills and learn from one’s mistakes.
Open to all Malaysians aged 18 years and above, KIB’s KenTrade Trading Challenge 2 will once again feature two categories of participants, namely the Student (between 18 and 24 years) and Public (18 years and above) category.
The challenge will feature a number of weekly challenges, starting from Oct 1, and culminate in a grand finale on Nov 9.
In the lead after two weeks is 24-year-old trader, Kam Qze Ming, who has amassed RM633,024 as of Oct 15.
The participants start off with RM1mil in virtual money.
“I was motivated to test myself and my methods to see how I would fare in the competition. It’s been going along quite well so far, but still mistakes are made once a while.
“So I’m still fine-tuning my trading in hopes of competing in this year’s grand finale,” says Kam, who is participating in his second challenge.
In second place is 21-year-old Oh Hui Sen, who is participating under the Student category. Having earned RM610,860 since Oct 1, he believes the challenge will help improve his trading skills.
“Apart from the lucrative prizes, I’m interested in the competition because I want to test my trading skills. I am very happy with my progress so far, as some of my positions have grown in value in the last week.
“But I am uncertain of how my portfolio will perform in the coming weeks. I’m hoping to secure a spot for the final battle.”
Meanwhile, 29-year-old Lim Kai Xiang, an assistant manager at local banking group, has earned RM555,023.
Participating for the first-time under the Public category, he says the challenge provides a platform for first-time investors to have a feel of the market and gain confidence before actually investing their own money.
“I have not invested in the stock market before. Investing in the market could be seen as a good alternative to bank savings in the current low interest rate environment.
“However, individuals would need to know their own risk profile and invest within their means.”
In fourth place is returning participant Lam Jun Wah, who placed second under the student category at last year’s challenge.
Having earned RM550,763 since the challenge started this month, his passion for trading is his main reason for coming back “for round two.”
“My passion to trading brought me here. I wish to prove myself once again in this competition, and put my trading skills to test before implementing them in the real world. It is a great platform to get a feel of the stock market, without any risk of capital losses.
“It has been pretty competitive with the other strong participants even in the first week itself. This competitive environment drive me to strive even harder.
“I feel grateful that I’m currently placed in the top few ranks, as this gives me an added advantage over others for the rest of the weeks.”
The top 20 players (10 from the Student and 10 from the Public category) with the overall highest growth (which will look at virtual realised profit, unrealised profit and cash balance) from Oct 1 to 30 will qualify to participate in the grand finale.
These players will then face each other in a four-hour trading challenge, with the most profitable player driving home with the grand prize – a Volkswagen Beetle 1.2 TSI.
In collaboration with Bursa Malaysia and Volkswagen Malaysia, the KenTrade Trading challenge 2 also welcomes its partnership with Berjaya RadioShack, Equities Tracker, Chart Nexus, NetInfinium and also KenWealth.