Benzinga’s paper trading contest powered by TradeZero is nearing the end of the first of three contests as entrants compete to win over $30,000 in cash and prizes during a monthly contest.
While Contest 1 may be nearly complete, contestants still have a shot at over $25,000 in cash and prizes in two additional contests, with Contest 2 set to kick off on Oct. 15.
Here’s how you can take home your share of cash and prizes and win a tour of the New York Stock Exchange.
The Contests: Powered by TradeZero, the World Championship of Trading is the ultimate trading competition for investors to prove their keen eye during a three-month time period.
The first of three separate contests kicked off on Monday, Sept. 16. Contestants had until Monday to sign up for the first contest, which runs through Oct. 14.
Each investor will have around one month across three separate contests to generate the highest profits from a starting balance of $100,000 in a simulated trading account.
Contestants in the World Championship of Trading will have access to Benzinga’s Live Squawk product.
Investors will also gain exposure to TradeZero’s newly patented short-selling tools.
Here are the top four traders in the first portion of the contest as of Oct. 7:
- Andrea S: $1,088,390.70
- Sneha O.: $366,650.00
- Stephen L.: $330,021.80
- Benjamin H.: $325,733.04
The tenth-place trader has a balance of $217,997.50, meaning the top 10 traders have all gained at least 100% since the contest began.
First Place Held Down: The leaderboard has featured frequent changes among the top 10, but the leader has been fairly consistent. Andrea S. has been in the top 10 for three weeks straight, with a first-place position in the last two weekly updates. Andrea S. had a balance of $810,808.75 last week, which means she added nearly $200,000 to her contest trading balance over the last trading week.
In an interview with Benzinga, Andrea revealed she is working on her PhD in mathematics and keeping her eyes on the market during the trading contest.
“It’s been wild. I didn’t expect to end up in first place,” Andrea said.
The contestant said she has learned more about finance and trading in recent years and did some internships in the quant trading sector. Andrea said she has applied the things she learned to trading and sought out to see if they would work in a retail trading contest.
“I think I got lucky.”
With a goal of winning the contest now, Andrea is now using strategies that are not like her regular trading.
“I’m going to take on much riskier positions.”
The trader said they recently bought some call options in the Chinese stock PDD Holdings PDD after seeing the stocks was up thanks to news of a China stimulus.
Andrea has also been looking at semiconductor stocks recently, naming Taiwan Semiconductor Manufacturing, NVIDIA Corporation and Super Micro Computer.
Contest Rules: The contest is open to residents of the United States and Canada who are 21 years of age or older.
Traders will be able to buy simulated equities and options from U.S. markets during the contest periods starting with a balance of $100,000. No fractional shares will be allowed. Traders have to hold a minimum of one stock or option throughout the contest. A minimum of five days of one trade or more must be completed throughout each contest.
Interested investors have been able to sign up to join the contest since Friday, July 26. Signing up for the first contest will automatically register an entry in the second and third contests. Traders can sign up for the contests after the start dates as long as it is before a cutoff deadline.
The dates for the contests are listed below:
- Contest 1: Sept. 15 through Oct. 14
- Contest 2: Oct. 15 through Nov. 14
- Contest 3: Nov. 15 through Dec. 14
The last days to register for the contests are Oct. 7, Nov. 7 and Dec. 8 at 9 a.m. ET for the three respective contests.
Read Also: TradeZero CEO Daniel Pipitone: Giving Retail Traders An Institutional-Level Toolbox
Contest Prizes: Participants have the chance to win as much as $30,000 in cash and prizes during the contests. Travel and expenses will not be paid for the NYSE tour prizes.
Here are the contest prizes for the World Championship of Trading.
Contest 1:
- First Place: $5,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.
- Second Place: $1,000 cash, one year of Benzinga Pro Essential.
- Third Place: $500 cash, one year of Benzinga Pro Essential.
Contest 2:
- First Place: $10,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.
- Second Place: $2,000 cash, one year of Benzinga Pro Essential.
- Third Place: $1,000 cash, one year of Benzinga Pro Essential.
Contest 3:
- First Place: $15,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.
Find out more at the World Championship of Trading site.
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