Currently in the fifth spot in the International TradFi Masters Competition, Waqar Zaka is a crypto expert and trader from Pakistan and is currently participating in the international competition with solo traders from various countries like China, South Korea, the USA, Japan and Pakistan.
The competition is not like simulated trading contests, in that the competitors must actually trade real money instead of demo accounts.
Participants are required to run their own investment portfolio and engage in transactions on both conventional and electronic financial markets.
The tournament is a very active one and involves traders holding onto different asset classes such as US Stocks, Foreign Exchange (forex), Gold, Silver, and cryptocurrencies.
The contestants are not allowed to concentrate on one market and are required to make trades in all the markets that are announced daily.
Rankings are based on trading volume, the profitability and risk management of the trading.
Successful trades add to the score of the participant and a stop-loss hit will incur a penalty point.
The trader who has the most well-rounded combination of trades that meet the criteria, with good profits and good risk management will be the winner.
The overall winner will be the owner of the newest Mercedes-Benz G-Wagon (which is worth around $400,000 to $500,000) no matter where they live.
The current leaderboard is China, South Korea, the United States and Japan.
Waqar Zaka has brought Pakistan to the fifth position and has six days left.
This is not Zaka’s first impressive international trading event performance. In two previous contests, held around the world, he took ninth place among over 3,000 traders.
Zaka is also famous for his efforts in educating Pakistan about Bitcoin at a time when it was valued at about USD268, years before digital assets had gained the mainstream attention of Pakistan.
Also read: Pakistani Tech Entrepreneur Waqar Zaka to Run for Prime Minister in 2029 Elections