In November 2018, “De Tijd” (a Belgian Finance Magazine) organized a traders competition:
You receive an initial capital of €50.000. This allows you to trade, in real time for 10 weeks, in a selection of shares on the Amsterdam, Brussels, Paris and New York stock exchanges and in a diversified selection of investment funds traded in Belgium. The goal? To achieve the most added value possible. Because your initial capital and orders are virtual, you do not run any risk.
This was an unique occasion to sharpen your trading and investment skills. Experimenting without any risk are rare and highly valuable opportunities.
Learn from Past Failures
The winner of this completion, Jordy Gladines, turns out to be a finance student. And this wasn’t the first investment competition he participated in. In his interview with De Tijd he explains how he learned from the mistake he made during previous competitions. Instead of buying too much in the beginning, he waited to see how the stock climate evolved.
Be aware of your own limits & use your network
Another factor he contributes to his success, is that only invested in funds. He says he didn’t have the ambition or knowledge to choose individual shares. And for the knowledge questions, that were part of the competition, he made use of the collective knowledge of his network.
Learn from others
And lastly, Jordy contributes his success to having a enthusiastic teacher that sparked the interest in investing. And he attended multiple events where key people from the finance world spoke. This gave him insight into how to improve his tactics and long-term strategy.
This reminds me of the quote by Eleanor Rosevelt: “Learn from the mistakes of others. You can’t live long enough to make them all yourself.”
The originally article (Dutch): “Student verplettert concurrentie in beleggerswedstrijd De Tijd”