Gonna have some fun.
So I was asked to complete the desert challenge. This challenge is described as follows:
You’ve been dumped on a desert and desolate island, and the only way to get off is to make enough money trading to buy a ride from a ruthless local fisherman. You’ve got $500 in your account and you must trade your way to the fisherman’s going rate of $10,000 to get aboard his trawler. You will have only a laptop and a working link to your broker. Should you fail, the fisherman will cut your connection and you’ll never trade again, marooned and doomed… To help you, you can choose the following:
- 1 trading book
- · 1 trading movie/documentary
- · 1 source of news
- · 1 twitter account to follow
- · 1 quote to inspire you
- · 1 trading platform
- · 1 instrument/market to trade
- · 1 luxury item
- · 1 phone call for advice (i.e. could be a personal mentor, famous trader, spiritual leader, your mother etc)
So I completed the challenge and sent over my comments for each question.
It got me thinking…
What If I were to attempt the Desert Challenge? Now I wouldn’t be secluding myself to an island in anticipation of being saved on the basis of making $10000 to buy a ride to land.
But what If I were to attempt the challenge and see how far I could go?
So over the next few weeks, I will be attempting the challenge.
This will be the criteria that I will follow.
I will use £500 as starting capital.
I will trade only one market which will be Forex and the one pair will be USDJPY.
My Goal is to grow the £500 to £5000.
I will post winning trades and losing trades. I wont go into detail of my entries and exits. However, you are free to ask me.
Upon the success of the challenge I will give £500 (10%) of the balance to a charity that is selected by subscribers of Traders Reality.
Now there is nothing to say that I will definitely complete the challenge, however this wil be an opportunity to showcase to traders new and old that if you stick to a routine and trade mindfully, you can make money in this market.
My credibility as a trader will be shown. Everything that I have shared will be put into action. I share so much on the importance of training your mind to become aware of the imbalances that occur in our minds. This challenge aims to put everything I talk about into action. You know the saying “your mouth writes cheques that your ass can’t cash”
Will I succeed? Maybe? Maybe Not? But is success defined purely on the basis of completing a challenge or goal? NO… The dedication, the persistence and desire to put all that one can into their chosen craft, in itself is success.
Once I go live with the challenge, all will be notified. I will keep a journal and post daily performance.
The one thing that I will be focusing on is not the wins. Not even the losses. It’s all about performance.
I will use this challenge to focus exclusively on my performance as a trader. The only factor that reflects performance of a trader is the balance at the end of each day. If each trader is to focus on their performance as opposed to focusing on how much money they can make, they create a whole new level thinking. Awareness. When you focus on your performance as a trader, you become mindful of behaviors that previously may have cost you money.
This will be an exciting adventure. I welcome everyone to get involved and follow the progress.
Have a great week ahead guys.