A year passes so fast. The SGX StockWhiz competition is back again. I managed to win about $500 bucks last year (2014) during the first month, finishing 2nd place. But struggled in the next 2 months as I missed out on big speculations, Oops, I mean TRADES later on. I clung on to my 2nd place from the 1st month until I finally slipped and dropped out of the top 3 in the last month of the competition. I wanted to prove that Value Investing can beat Speculation, Oops I mean, Trading… but I failed.
Sorry, I have let you down Peter Lynch!!! *Get on my knees and kowtow to my Peter Lynch Altar*
This year it seems like the competition payout is less. It’s quite sad actually. Finish in the Top 30 monthly and get $100 cash pay out and you get to keep your earnings as commission credits with OCBC securities. Last year in 2014, if you finished in the top 20, you get to keep whatever you have earned from your trades. But then again, it shouldn’t be too hard to make it into Top 30 right? Hmmm…. we shall have to wait and see.
This time, I am going to make use of the SGX Stockwhiz competition to make fancy trades, read fancy trendlines, look at fancy graphs to try to win. These are strategies I will never use in my real-life portfolio though. Currently, I have went all-in on a TERRIBLE stock which I would NEVER buy in real life. Yikes! If I dare to post about that stock in the Valuebuddies forum, the forummers will take pitchforks, torches, organize a witch-hunt to suss me out and burn me to death in the name of Benjamin Graham.
Meanwhile, let me share with you some of the competition rules and T&Cs. The SGX Stockwhiz competition runs from APRIL – JUNE 2015.
Keep What you Earn. But in the form of OCBC securities Comission Credits. Basically, OCBC securities want to attract more people to trade on their platform.
I like gunning for low-hanging fruit. I am just aiming to finish top 30 every month. Some of the traders are too hardcore, making trades every day. I am not confident of beating these guys to compete for overall top 3 places after the end of 3 months. But who knows, if Cai Shen Ye (God of Fortune) is on my side, anything may happen!
Some trade quests and bonus quests. BLAH. Trading stocks is already a big hassle for me. I can’t be bothered with the trade quests. Maybe I will try the Bonus Trade Quest. If I win the Samsung Galaxy S5, I can sell it away… heh heh heh…
More info about the Commission Credits. I use OCBC securities by the way, so this may help me cut down some of my brokerage costs.
Terms and Conditions for the OCBC Securities commission credits. Please look at the sentence I circled in red. *COUGH COUGH* WORST PRIZE EVER *COUGH COUGH*. I am honestly turned off by this.
Basically, this long paragraph is just trying to say: More participants, larger prize pool for the commission credits. Anyway who cares? The commission credits sucks anyway. It doesn’t affect buy-and-hold-for-10-years investors like me.
This is important. Another big hassle for me. I need to make 3 unique trades a month to qualify for the prizes. I have difficulty even making 1 stock pick in the sg market, let alone 3 trades per month! Big setback for team Bf Gf Money Blog. Nevertheless, we will prevail!
Please ignore my Main-stocks portfolio… I haven’t touch this game ever since the competition last year!
I shall not reveal what stock I bought…. yet…But you can simply download the game and follow me to see what stock I bought. Or you can just subscribe to our Bf Gf Newsletter.
Let me give you a clue: It is a seriously crappy company which we have probably done business with at least once in our lifetimes due to its low prices.
I will blog more about my SGX Stockwhiz experience from last year (2014) and share with you the strategy I used to win during the first month, and analyse the mistakes I made in the subsequent months. I will also blog about my latest SGX Stockwhiz 2015 speculations, oops, I mean Trades.
Good luck to all readers taking part in this competition! Show your support for Team Bf Gf Money Blog by liking this article! \../