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Students and emerging investors are invited to enter a paper trading competition and invest $100,000 in virtual money.
The 2023 Campus Trading Games are open now as part of Macquarie University’s Invest for Good research project.
The competition is being conducted by the University’s business school in cooperation with AI-powered trading platform mooomoo, which has just celebrated a year of operations in Australia.
Entrants will have access to moomoo’s detailed market analysis, with professional charting and AI tools.
The moomoo platform provides 16-hour-per-day US trading, ASX and Hong Kong Exchange (HKEX) stocks, but it’s on track to move to 24-hour per day trading for US stocks from next month. Interestingly, moomoo’s system can bypass the T+2 (trading day, plus two days) settlement period, allowing investors to sell stocks and then reinvest the proceeds.
Moomoo chief market strategist and industry stalwart Matt Wilson said the paper trading activities would provide university researchers with key insights into investor behaviour.
“What we have seen, particularly over the past two years, is people looking at social media or their friends and following whatever the latest thing is, either on Facebook or Google,” he said.
“We think that’s pretty dangerous and probably a fast way to lose money.
“If you’re hearing tips from taxi drivers or your Uber driver, you are probably not getting your share tips from the right people.
“Moomoo’s AI tools can help investors make informed decisions.”
Mr Wilson said aside from the competition’s prizes, participants would have access to Macquarie University professors and could gain information on Environmental, Social and Governance (ESG) investing while testing their skills in a simulated environment.
“A lot of people think environmental and sustainable investing is really just about avoiding firearms, tobacco, alcohol or military-style companies, but there’s a lot more to it than that,” Mr Wilson said.
“A part of this research project is about looking at whether investors would change their trading behaviours if they had more information available.”
The moomoo platform is based in Sydney. It was developed and is distributed by moomoo Technologies, which is a wholly-owned subsidiary of Hong Kong-based brokerage and wealth management platform Futu Holdings (NASDAQ:FUTU).
Futu serves more than 19 million users in more than 200 countries. It was founded in 2011 by Leaf Li, who was among the first product managers at tech giant Tencent.
Seventy per cent of the moomoo workforce is dedicated to research and development, allowing the company to continuously enhance the customer experience.
Moomoo’s AI-powered tools allow investors to learn from the past and have foresight too.
“Moomoo’s proprietary algorithm interrogates stocks with similar historical candlestick chart patterns to the stock you’re looking at, and it simulates the likely price trend range for a short period into the future,” Mr Wilson said.
“The AI-powered analysis interprets over 30 technical indicators so you can gain an understanding of performance.
“It provides insights on whether the overall sentiment from this is bullish or bearish.”
Uniquely, too, moomoo’s business data feature can help investors understand performance beyond underlying financials.
“Using Tesla as an example, the business data shows the total vehicle production, vehicle deliveries by model and the total number of vehicles delivered each quarter,” Mr Wilson said.
This covers stocks including Tesla, APPL, Amazon, Google, Netflix, PayPal, Uber and Alibaba.
“Lots of online trading platforms have shiny investment platforms where you can put orders in, but they don’t actually help you find the stocks to invest in,” Mr Wilson said.
“We have several tools — another is that you can track the holdings and latest changes of the leading fund managers of the world.
“If you want to know what Warren Buffett’s buying, you can simply click on the app and you can find all the stocks that Warren Buffett’s been buying over the last two years, how his portfolio’s structured, et cetera.
“You can do that for about 6500 fund managers. We think that’s a really unique tool.”
To take part in the 2023 Campus Trading Games sign up HERE.
Find out more about moomoo.
Disclaimer: Financial services available through the Moomoo App are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL 224663). Investments in stocks, ETFs and other exchange-traded financial products carry risks and investors may suffer losses. No content in this article shall be considered a recommendation or solicitation for the purchase or sale of securities or other financial products. Please consider the Financial Services Guide and other disclosures available on moomoo.com/au before deciding to use our services. We do not provide financial advice that takes into consideration your personal objectives, financial situation or particular needs. You should consider the appropriateness of the information contained in this article in light of your personal circumstances before making investment decisions.
