Today we give you a new update on our Smartphone Challenge. We will try to give you a monthly or 6 weeks recurring update.
Mid february I wrote about the 3000$ Smartphone Challenge. Then I wrote a blog post about “How to earn money on a plane“, which could be life changing for many people… It is definitely for me.
Today I am informing you about my progress in my learning track and how my demo account has evolved.
Our Learning Track
In our learning track we focus on following the webinars of Stevenson Lindor and other top forex traders. We focus on the strategies and thinking required to be successful. We want to think like a PRO trader.
Our Demo Account
In order to simulate my start with a real money account, I decided to start with a demo account of 500$ in February 12th.
In March at the time of my latest blog post, this account was grown to …..an amazing amount of 373.159 $ in one month. You can see the last three profitable trades within March.
Today this same account has grown to an even greater amazing amount of 775.391 $. I just keep on executing what I learned from the workshop in London.
What tickers did I trade ? I mainly made major profits with the XAUUSD when gold started dropping from the strong resistance zone 1309. When stock markets go up, gold goes down. I swing traded this from 10th of March until 10 of April. So PATIENCE is also extremely IMPORTANT !
Let a winning trade run…. I don’t think about the money size anymore and just execute. This has also been a game changer.
What has been the key to this success ? The three elements below have not changed.
- Reading and drawing the charts correctly : Stevenson has improved my charting skills to a PROTRADER level. Without a correct street map, you can’t find your way in the city, right? I always compare it with reading a street map. 50% of your success depends on this skill.
- Secondly some simple tips and tricks have improved my risk management skills. Every trade is defined with a RISK/REWARD ratio and once it goes in the right direction, I simply put the Stop loss in the profit zone on my mobile phone. You can never lose money as a result.
- Third is FOCUS. I focus only on a few currency pairs today. This allows me to learn how those currency pairs move, how big are the candles, what news does impact them,…etc?
Final Words
If you have read our Financial and Travel Objectives of 2019, you know that our goal for this year is to earn 15.000$ passive income. In order to achieve this result, forex trading is one of the different strategies to reach that goal.
Personally I still consider myself still a BEGINNER FOREX trader. (Phase 1 in the picture below), others think I am already in phase 2. I always stay humble. I will continue to trade this demo account to 1 million dollar. I am getting closer. As you can see, I still have losses. It’s not a perfect win all game. I can still fall flat on my face as the kid in the blog post pic. There are still a lot of improvement points.
One Million is MY GOAL for this year in my demo account.
My live account with real money has also been started. Here we gained 10% in the first week and then we got three stop losses. So this account is flat.
So the goal is to reach 3000$ this year. Stay tuned how we progress in coming months…it is definitely an exciting journey.
This is the end of this blog post.
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