TradeStation Group (Nasdaq:TRAD) announced today that the award-winning TradeStation trading platform has been selected for Penn State's Trading Strategy Competition.
In the competition, which is being coordinated by the Penn State Smeal College of Business, individual students and teams will use the TradeStation electronic trading platform to create automated trading strategies for SPY, USO, and FXE. The TradeStation trading platform enables the students to create, back-test and optimize their automated trading strategies using TradeStation's proprietary database of historical market data. Competition results will be determined on the basis of the profitability of the students' automated trading strategies run using the TradeStation Simulator during the competition. The TradeStation Simulator makes it possible to test how strategies perform under "live" market conditions - with no financial risk whatsoever. The competition, which is open to students currently registered at any university, began on March 24, 2010, and will end April 14, 2010.
"TradeStation has always been focused on providing the intelligent, strategic, and intuitive trader with the tools he or she needs to become a more disciplined trader," said John Roberts, Chief Operating Officer of TradeStation Group. "We are proud to partner with Penn State and the Smeal College of Business."
Participants will compete for cash prizes and trophies awarded by PNC Bank and Market Technicians Association Educational Foundation. The first place winner will receive $500, the second place winner will receive $300 and the third place winner will receive $200. A trophy will also be awarded to the university with the highest score.
The TradeStation electronic trading platform has been part of the Smeal College's educational program since 2001 when the platform was first installed throughout its entire real-time trading room.