#iTradeWithAMillion – we have a winner!

#iTradeWithAMillion – we have a winner!

Congratulations to Pierre Olivier who recorded a profit of R2.5m over three months to take top honours in the iTrade with a Million competition. Japie de Klerk came second with a profit of R1.7m, and Herculus Botha third with R1.5m profit. Another two iTraders made more than R1m profit each. They were Jeanne-Mari Olivier and William Kros. Congratulations to all who traded so well. Unfortunately some iTraders did not cash out all their positions as the rules determined.

Pierre will receive a cash prize of R25 000 and iTradePro membership for a year. The top 100 contestants will receive free standard iTrade membership for a year. We’ll notify the top 100 contestants.

How did Pierre do it? He traded actively and made more than 200 buy and sell trades. His biggest profit resulted from Naspers – having banked R1.3m in 20 transactions. He benefitted from taking long and short positions at opportune times as the share price fluctuated wildly. Most of the top iTraders made profits on Naspers, but Pierre led the pack.

He also made more than R400 000 profit in only six trades on United Technologies, with an added boost of more than R200 000 on Intel and Pfizer. It wasn’t all profits though. Pierre suffered losses in British American Tobacco, Cisco and IBM, but he managed to limit these. Pierre is 59 years old and a professor in Accounting at the University of Stellenbosch. He is a long-term investor who manages his own portfolio. “I really enjoyed the short-term speculative nature of the #iTradeWithAMillion competition,” says Pierre. He adds that he’ll now register to make use of the free iTradePro membership.

Gerhard Lampen, Head of Sanlam iTrade, says: “Thanks to everyone who participated. I hope you enjoyed the trading experience and gained valuable practical experience. “Should you wish to try your hand at live trading or move your online account to Sanlam iTrade, you’ll qualify for our special offer – you’ll pay no monthly fees until March 2019 and we’ll refund your exit fees if you transfer your account from another broker.”

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