Canterbury students rally on COVID-19 market volatility in CMC Markets University Trading Challenge
The CMC Markets University of Canterbury Trading Challenge has come to a close with third-year Finance, Strategy & Entrepreneurship student, Connor Rogers, winning the top prize with a 152.48 percent return on investment (ROI).
(left to right) Professor Jedrzej Bialkowski (Head of Economics and Finance), Ryan Jans (2nd place winner), Connor Rogers (1st place winner), Emma Reynolds (spot prize winner – best trade of the comp), Dr Moritz Wagner, Ewan Heyworth (CEO of the Investment Society from 2021).
This year’s competition attracted over 120 teams, comprising of individuals or pairs. Using a virtual fund of NZ$100,000 to trade over four weeks, students experienced the real-world volatility influenced by the COVID-19 pandemic and its impact on the global financial markets.
A returning participant from last year, Rogers primarily traded gold and silver commodities to secure him the top spot with a final account balance of over $252,000.
“The competition was really engaging and interesting during these periods of heightened volatility. My initial game plan was to take calculated high-risk swing trades, maximising the leverage in order to gain a significant wealth base of around 80% ROI. After this, I took a more technical approach by making multiple trades that locked in smaller profits.
“My focus is usually on US equities, so it was great to get out of my comfort zone and try trading commodities. I learnt a lot about controlling your emotions when in a trade – it’s easy to allow emotions to interfere and divert you from your initial game plan. The disconnect from any negative implications with virtual money allowed me to take on a lot more risk and enter more trades. Seeing the success of my trades during the competition has given me greater confidence in my own ability and taught me to trust my instincts,” adds Rogers.