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I just wanted to add that I don’t find this chord exercise very useful. It’s OK in the beginning when you are learning the shapes, but you are better served to switch over into chord transitions: instead of practicing forming the chord from hand on your lap, you practice a chord progression. Pick a song you would like to learn and practice that. Start out simple with a 2 or 3 chord progression: C => G => Am … repeat 20 times or 100 times.
Note: I am not saying to practice the actual song (although you may want to do this eventually) the emphasis here is chord transitions. You don’t even have to strum all the time, you can go for a long time just fingering the chords. You do want to strum them at times to make sure you are improving clarity, so I mix silent and musical transitions.