21 March 2022
Bilbao Campus
Ignacio Aja, a 2nd year student of the Deusto Finance Programme, won second prize in the IG Turbo 24 competition, a non-profit trading competition that takes place on demo accounts and with virtual money.
Ig Group is a London-based listed broker and the world's number one provider of CFDs (contracts for difference). Each of the 500 participants had the opportunity to invest a demo account of €20,000 and maximise their profitability by trading forex, futures, equities, etc.
This competition took place in several phases. After a first week of testing and familiarisation with the platform, Ignacio Aja made it into the top 10 by obtaining a 19% return, through trades in the forex and oil markets.
In the final phase, the accounts were reset and only the 5 best positioned traders qualified for the final phase. Aja achieved a 91.87% return and advanced to the final phase.
The final phase was concentrated in one trading day, on 25 March, when, once again, the balance was reset to €20,000 and the top 5 players were pitted against each other. The Deusto student chose to invest in a difficult and volatile area: oil. To do so, he used technical analysis tools and obtained a return of +47.13% on that day alone.
Finally, on 28 March, the results of the final phase were published, in which Ignacio Aja was in second position, being one of the few profitable traders during the 3 weeks and in which he appeared in the top 10. In his opinion, the result was based on the use of the logic of technical analysis, given the time horizon for maximising short-term profitability and the fictitious investment environment.
