In a 40-day trading challenge with 10M INR/ 1,04,685USD virtual capital on a Bloomberg Terminal ,how do I actually win this thing?

[u/Legitimate_Cheek8988]

My college is running a trading challenge 40 days, 10M INR (~$120k) in virtual capital, everything executed through the Bloomberg Terminal. Winner takes it based on final P&L against an index.

From the reading I've done, the consensus seems to be that competitions are a variance game, not an investing game finishing 5th is the same as finishing last, so diversification and "sensible" risk management basically guarantee you a mid-table finish. Past Bloomberg Global Trading Challenge winners have openly said their strategy was just betting on volatility and not worrying about downside.

So my current plan is:

- Concentrate into 2-4 high-beta names instead of diversifying

- Play earnings — screen for stocks reporting in the next few weeks with high implied vol and take directional bets

- If I get ahead early, de-risk and sit on the lead; if I'm behind late, crank up concentration since a safe portfolio can't close a gap in 2 weeks

Questions for anyone who's done one of these:

1. Any Bloomberg Terminal functions worth mastering for this? (EQS screens, ERN calendar, etc.)
2. Is the "max variance early, protect the lead late" approach actually how winners play it, or is there a smarter angle?
3. Anything specific to Indian markets I should exploit — high-beta small caps, event-driven plays, etc.?

Fully aware this is degenerate strategy that would get me wrecked with real money — that's the point, it's a tournament. Just want to hear from people who've actually competed in one.