MIRI: The Curtin Finance and Investment Club (CFIC), the student-run academic club for accounting and finance students at Curtin University Malaysia (Curtin Malaysia), celebrated the successful conclusion of its Trading Competition held at the Curtin Trading Room, the university’s unique teaching facility that provides a real-life trading floor experience.
The three-month competition, which took place between November 22 last year and February 23 during the semester break, was open to students from Curtin Malaysia’s Faculty of Business and Faculty of Humanities and Health Sciences.
According to Alpha Ngadan, a lecturer in the Faculty of Business’ Department of Accounting, Finance, and Economics and advisor to the CFIC, the competition was conducted online. Participants were given a virtual account with an initial capital of US$100,000 each.
“The virtual trading account allowed the participants to trade in U.S. stocks and cryptocurrency. The top three participants with the highest portfolio values at the end of the period won cash prizes amounting to RM1,500,” he said.
The winner of the competition was Sim Hao En, achieving a total return of 873.14 per cent.
The first runner-up was Alvin Lee Ken Ming with a total value of 662.50 per cent, followed by the second runner-up Leong Tin Rouh with a total return of 22.55 percent.
Sim shared that his winning strategy involved studying price patterns and using leverage to target high rates of return.
His success was attributed to thorough planning and preparation before making any trades.
Lee’s strategy involved utilizing screeners or filters to identify potential stocks that met his trading requirements, dedicating 30 minutes a day to trading.
Leong, being a beginner, approached trading cautiously and spent up to two hours a day monitoring her portfolio. Managing portfolio risk was her main challenge, as it is a crucial aspect of successful trading.
Alpha expressed gratitude on behalf of the CFIC to Miri mayor Adam Yii Siew Sang, who is also the state assemblyman for Pujut and a member of the Curtin Malaysia Council, for generously sponsoring the cash prizes.
He acknowledged that the sponsorship significantly contributed to the success of the competition and enhanced its impact.
Alpha also extended an invitation to others to join the upcoming talks and workshops on stock trading facilitated by both internal and external speakers.
He reiterated the club’s commitment to promoting financial literacy among Curtin Malaysia’s students and the public, enabling them to make informed financial decisions in the future.
Dr Fayrene Chieng Yew Leh, a senior lecturer in the Marketing, Management, and Digital Business Department and the Faculty of Business’ associate dean of learning and teaching, congratulated the three students on their achievements.
She emphasized the importance of equipping students with the necessary knowledge and skills to become effective financial professionals in the future.
Dr Chieng highlighted the significance of understanding the dynamics of the financial market and learning the art of sound investment, not only for finance majors but for individuals striving for financial independence and a secure future.
She emphasized that the competition provided a platform for students to develop their investment strategies, analyze market trends, and make informed decisions in a controlled environment.
These practical skills are essential for navigating the real world of finance, fostering critical thinking, decision-making, and risk management.
For more information on business majors at Curtin Malaysia, please visit curtin.edu.my/study/.
To learn more about Curtin Malaysia, visit their official website at https://www.curtin.edu.my/ or find them on Facebook, Twitter, Instagram, YouTube, or LinkedIn.
