Challenge Update Week Nr. 3
Welcome to my first update on my weekly progress so far. I had a difficult time adapting to my new lifestyle as a challenger so I needed to get used to it for a bit. That being said, here is my first weekly update on my progress towards a 100 million dollar.
Last year I decided that to do this journey I must quit old and bad habits. So the first of January I decided that to do this I must quit smoking, drinking and all other bad habits. The reason is that I’ll need all the energy to make this challenge a success. And after a few weeks, I’m completely sober, didn’t smoke a cigarette and actually started exercising on a daily basis. Every morning I wake up at 05:00 and start walking almost 6 km.
Between 06:00 and 06:15 I arrive back home and I drink a cup of coffee to really wake up. Before I started this challenge I always woke up at around 11:00 so it’s a real turnaround for me. After that, I start my computer and I write my to-do list for the day. I measure my to-do list since the more I do, the more I accomplish and the more dedicated I am. I also track how much km’s I walk since I am proud that I’m doing this. Now let’s get on to the fun part and see what I achieved so far in this short period.
What Was The Bad News?
I started out with $108 inside my forex brokers account to trade the foreign exchange. Although I’m down a bit I still have around $85,- left. Since you all know I’m trading with forex robots I’m still learning and tweaking. When trading with robots you must put your emotion aside since the robot’s advantage is that they trade without emotions. I already noticed that this can be difficult sometimes especially when your down in a trade.
So I got my first drawdown but since I’ll be getting hooked to failure, success will be inevitable. I’ll be adding to the principle monthly since more money inside my broker’s account means my team of robots can open more positions on multiple currency pairs so I can trade more. The more I trade the faster I can recover from drawdowns and the more smooth my growth will be.
And What Was Good News?
The good news is that I got a small job from a friend of mine to create a website for him for 250 euro. When I convert this to dollars I probably get $270 dollar. If you add this up with the $85 dollar I already got inside my broker’s account, I already achieved my first month’s net worth goal of $250,- which you can read on my financial forecast 2020 and I still need to receive my salary and tax returns.
I also posted some digital products on eBay and I found someone who wanted to buy a product from me for $175,- but I didn’t actually get the money yet so I’m not counting this yet. But I have a good feeling about it since I have contact with him for a week now. He just texted me as we speak.
What Was The Solution To My Problems?
The solution to the drawdown issue is creating more forex robots to trade for me since then I’ll experience more stable results inside my trading although we can’t say much about this since I just got started. An extra additional solution is to add more money to the principal since my account then grows exponentially which in return gives me more profit again and more room for drawdowns.
Since I’m counting on setbacks, my mind is much stronger since I know the road to 100 million will be a bumpy road. But also a very rewarding one. I’ll create a mind of stone so emotions don’t bump me over.
So what’s my overall conclusion for this first few weeks? I’m very satisfied with the results. I must say that I’m a changed mind. I think differently, I act differently and I achieve things that I didn’t achieve before. I got a few small setbacks but I also already got some rewards. I made some extra money, I achieved my first-month goal, I have some small things in the pipeline and if you read my personal performance 2020 page you’ll see that I already walked many km’s which give is good for my health.
Do you want to read more about my challenge? You can follow me on Twitter, like me on Facebook, subscribe to my Youtube channel or read my blog. And of course, I also have a challenge update newsletter which you can find on the right side of my blog.
What do you think about my challenge? And what would you do different and do you have any suggestions?