Just a quick update: I passed the second step of the challenge.
I won’t start trading with the live account till next stream on Twitch, next Monday at 2pm (UK time).
We will also have time to check some trades, talk about how I approached the challenge and what to do with the live $100K account.
Congrats, I understand to some it doesn’t seem legitimate. And probably not good for a brand new trader to get into with how much you have to earn in the certain amount of days. But hey, if you can do it, and they do pay out(have seen proof). So why not…
Every forex trader’s journey is full of challenges and risks. But these are the only reasons what becomes a learning lesson for one to reach financial goals. If a trader won’t take up any challenges and stay stagnant in the market, there is nothing that can help him in making money.
I passed the two steps of the challenge, so I was awarded a $100K account to trade.
It’s still a demo account, but you get paid 70% off the profits you can make every month with this account.
I have started on the 12th of April with the $100K account, so my first payout is scheduled for the 12th of May. You also receive your fee back after your first profitable month.
So far, so good. $1,436 in profit for the first 8 days, which should give me a payout of a bit more than $1000 so far.
I will keep the thread up to date after my first profitable month, which I hope it will be this one ending the 12th of May. I will share whether or not they pay the 70% profit share and give back the fee to join the challenge, which was about $600.
After the first 4 months, slightly unhappy with some of the rules after you pass the challenge, but overall a positive experience.
In my experience, it is not possible to have all the months in profit.
The hard part about the challenge is that you need to have 2 profitable months in a row. After that, you are allowed to have a bad month, as long as you don’t have a drawdown bigger than 10%.
Unfortunately, I’m closing this first month of real trading with a loss (currently at $99,876).
Fortunately, it happens when I can afford to have a bad month.
Hey, sorry for not keeping you up to date, I’ve been busy with my trading and other projects related to it
Yes, the challenge is going quite well. I started the first month at a loss, the strategy simply didn’t perform well that month. But I didn’t mind, I’m not here for the quick bucks, so I went through the second month with the same system and it went very well.
As you can see, I closed the month with a nice profit, just a bit above $10,000, so I received a payment for $7,282.53, plus I got the fee refunded.
A bit of a shame because now they pay 80% of the profit, not 70% anymore, so I could have made more than $1,000 more, had they done it a few weeks earlier, but hey, we need to focus on the positive
Sorry again for not posting much recently. You can always send me a private message if you have any question. I’ll try my best to answer.
Stay safe and good luck!