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October 24, 2013

When do I ever say no?

One of my biggest problems has always been my inability to say no, particularly to activities/commitments I know that I’ll either enjoy partaking in or would really benefit from. So, there I was whole of last week, having signed up to dance at Eid Diwali while having one of the most hectic weeks in terms of school work, and extended commitments to the finance club’s first trading competition. Do I regret doing them all? Not at all! As you’ll read below, Eid Diwali and the trading competition have been an absolute blast!

 

Eid Diwali

I took part in two dances at Eid Diwali: the Senior Dance and Dreamum. The former was long, fast and took a while to learn. The latter was shorter, slower and was not too complicated. They were both, however, as entertaining and fun as you’d expect.

Eid Diwali

The Dreamum dance was meant to be a bit corny, with funny, intimate dance moves and a lot of biting of the lips. Choreographed excellently by Zoha, the dance went smooth. And the song is still stuck to my head – http://www.youtube.com/watch?v=sYK1o261F18

The Senior Dance hoped to move the crowd with fast-paced movement and a bit of James Bond action towards the end, i.e. sun-glasses and guns. This was our last Eid Diwali dance together as seniors so it got a bit emotional towards the end (though I tried hard to not show it). If anyone was wondering, this is what we looked like:

Bond sunglasses

The Trading Competition

As it may be frowned upon if I, the president of the Clark Finance Club, go home with the winning iPad, I decided not to personally participate in the competition. I am however having an excellent time moderating the competition and seeing participants perform. Those who have done considerably well until now have followed many of the trading techniques that Hoang went over during the training sessions. For example, many participants used forexfactory.com and appropriately judged the employment statistics to make successful trades in the foreign exchange market. But, there have also been participants who I believe have really tested their luck by risky high-leveraged trades. Though he/she may have come off with positive gains in previous attempts, this is usually not a very sustainable tactic in the long-run. Unless, of course, you have enough conviction. And, that is what being a real trader is all about.

By the end of the first week, our top three performers were as follows:

  1. Keitaro Okura: + £11849
  2. Dylan Goss: + £4038
  3. Yon Bassal: + £4004

But, now (mid-way during the second week), the top three performers have changed slightly to:

  1. Keitaro Okura: +26457
  2. Dylan goss: +4038
  3. Rahul Dutt: +3822

 

As you can see, there are chances for others to catch up. Just like there is an equal possibility that top-performers could fall behind with a few bad trades. The point, however, is that in the long-run, we should expect the best investor to come out with the biggest gains.

This event is by no means long-term as that in the investment world signifies a time period of way more than three weeks (the length of our trading competition). However, the competition still allows participants to understand how significant economic events and indicators impact the financial markets, at least in the short-run. So, I’d like to end this post by saying a big congratulations to not only those who are performing well in the competition, but all participants who have taken the most important step of registering for this trading simulation.

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