KUALA LUMPUR (Oct 11): After weeks of intense competition, a 40-year-old full-time trader, Mohd Fairi Che Wanik, won the grand prize in Kenanga Investment Bank Bhd's (Kenanga IB) third season of KenTrade Trading Challenge.

Mohd Fairi had battled against more than 25,000 competitors and walked away with the grand prize of RM50,000 cash and a trip for two to Hokkaido, Japan.

He also gained 15% of the RM100,000 cash provided by Kenanga IB after completing the live trading contest, which ran for about a month.

"The key to success in trading is to do your research, understand the sector you are looking to invest in, look at undervalued companies and focus on long-term investments," he said at the KenTrade Challenge prize presentation ceremony here today.

The contest was divided into two stages: the first stage kicked-off from July 31 to Aug 5, with each participant receiving RM1 million in virtual money to start their trading adventure.

Meanwhile, the top 10 players with the highest portfolio value then qualify for the second stage, in which each of them will be provided with RM100,000 in real cash — that's RM1 million in all — to trade live on Bursa Malaysia in its grand challenge round, which took place from Sept 4 to Sept 29.

On top of that, the KenTrade Trading Challenge has entered into the Malaysia Book of Records as the "first live stock trading challenge in Malaysia".

Kenanga IB group managing director Datuk Chay Wai Leong said the contest was to promote share trading to the next generation of traders in the marketplace.

"We hope this helps to further dispel the misconception that trading is complicated," he said.

The contest was also supported by AirAsia X, Arlan Holdings Bhd, Zon Duty Free and Duty Free International Ltd.