Introduction Coach Markus Gabel
How many of you think trading is a very easy thing? And how many of you made the experience to lost more money than you were winning? Based on broker statistic round 80% of retail traders lose their money due to round 3 month. But that is not the whole truth. Due one year 98 % of retail traders lose their money. That is the real truth. No one is talking about that fact. And more than that, traders waste their lifetime with that kind of trading. Where is the trap traders get in? With our brand new project called Project DowHowJoe, I want to prove you how it is possible to be a part of the 2% of successful traders. With this experiment, I want to show you how you can avoid walking into the trap to lose more money than you win. One of my clients is willing to make this project with me. This client is a real person but to protect him and his family we want to give him the name DowHowJoe. DowHowJoe lost more than € 50.000,- during the last years while he was trying a lot of different setups. To be honest he never had a real plan what he has to do. After a long time of terrible and frustrating experiences, he asked me about special coaching.
My client DowHowJoe
What are the details of that experiment and project? DowHowJoe wants to be a fulltime trader latest in January 2020. My job is to coach and encourage him due the next 14 month. I will help him to learn to trade by the DowHow setup and how he can handle trading in his own life. Although I have round 100 clients in my own education and trading service I said to him I want to encourage him and want to coach him very close. But there are some special conditions he has to comply. Every time he breaks the rules I will give him some punishments like stop trading for one week and so on. If he breaks the rules more than three times I am going to break up the experiment and coaching.
Who am I? I am the coach Markus Gabel with almost 20 years experience in the markets. I lost all my money and more than that. I lost my family, my energy and finally my self-confidence. But finally I was able to taught myself in trading and later some mentors showed me the real truth about trading. This experiment is a high risk for me as a coach. Cause I have to carry the risk that DowHowJoe isn´t able to be successful. But I am very convinced that everyone is able to be a successful trader if he uses the correct rules and learn to handle trading in own life.
First of all, DowHowJoe only has the permission to make trades in the hourly chart in forex, indices and commodities. Daytrading like 5M charts is forbidden cause he has his own company and mostly less time. He has to make trades based on our DowHowFiboPro Setup with the following rules: A valid trend is needed The correction has to run at least 38,2% (Fibonacci) A young trend is needed (max 4 arms of a trend) Waiting for the rebound (balance candle by Heikin Ashi) No trades inside of the Fair Value Zone (market profile). One exception if a rebound at the PoC, PoH or PoL is happened based on a trend. The big pictures (higher trend) must support. Fibonacci and market profile will show the targets
Further Details of that experiment:
DowHowJoe opened a real money account at FXFlat (Broker) and transferred € 5000,-. Everybody can follow all trades by that link of ForexFactory. https://www.forexfactory.com/dowhowjoe This blog is only written by DowHowJoe and the coach Markus Gabel. You will see all our discussions about trading, the mistakes, my encouragement and the processing of DowHowJoe.
Hello! Why are you reading this text? Are you maybe like me? Do you trading since years? Is your big goal to live from trading? Do you love the independence and the freedom, which you connect with the success in Trading? Do you still want to realize things in your life and think trading will help you?
Maybe, then you are like me. So you will find yourself in the following blog during the next 14 months. I am 41 years old, father of a great family, entrepreneur and I have monthly income, which are in the 5-digit range. Without to reveal my real name, I would like write as "DOWHOWJOE" everything that accompanies and moves me on the way to becoming a full-time trader.
I do trading since 2007. I started out of pure greed and the big wish of getting fast rich.
When it went into the wrong direction, I didn't give up my goal, but concentrated me on my main job. At the age of 23, I started my own business and have built up over the last few years very successfully. This business enables me and my family a very comfortable life. To be honest, we don't lack anything and we enjoy life at a high standard. Trading always enthusiastically captivated since 2007 and my big goal is to live exclusively from trading.
I realized I couldn't do it without a lot of training. I spend more than 25'000.- EURO only for education, seminars and books during the last 10 years. The result was: - Always a new approach; - Always a new hope; - Always an adjustment of my trading approaches; - Always new setups, etc.
I started with an extensive study of the technical analysis, then add a intensive trainig of the fundamental contexts and macroeconomic factors. This cost me a half life time, because the correct interpretation of the financial markets seemed like reading Kryptolanguages.
I noticed that 80% knowledge is not enough to reach my goals. I had to reach 100% knowledge for success.
I learned in the past, that success only take place if I get more then 100%. I have learned that „more input get more output“. That makes me successfull in my real life. I add it with the theorem from Churchill: „NEVER GIVE UP“. These both principles are very helpfull in the real life. But not realy helpfull in trading! Why?
Due to the diagonal trading and the constant changing of my trading approach, I have had very good times, but more bad times in the last few years. I won money, and in the next month everything was gone again. But why? I had improved my trading approach and gained more knowledge. So why do i loose money? I was also more diligent and had longer screen times and much more trades! But, why did I have a worse result now? OK; I think the reason is, I might have to change the timeframe. Down to shorter periode for example the 5 minutes, or better the 1 minute periode. I thought there were more chances. Great! More chances = more trades get finaly better results.
Oh, my God. If I should describe all my doings during the last years i will find a résumé or an analogy in "cooking".
I like to eating. Food is important and neccessary. I want to learn to cook! What do I like to eat? Actually everything. OK, then I have to learn everything! And so I started with the first dish: pasta; the second dish was added: sauerbraten; and finalys i learnd to cook a Thai curry. Great I can cook. But I can‘t decide which meal i would like to cook now, then I thougt i will take the best of everything and then I'd get the best dish in the world. So I created a "TRADING Pasta-Saurbraten -Curry". That were INEDIBLE... to recognize this, took a long hard periode of time.
The mirror of failure were my account. I am in principle very careful with my money so I never trade with a large amount of money, because I realized that i could not do it successfully with a small amount. Nevertheless, i lost more than 50'000.- EURO during the last years. Fortunately this didn't ruin me, but losses of 50 Euro per trade had an effect to me as if someone had taken all my money.
Not the 50 Euro hits me. It hits me that i didnt get it right.
To find the right way to rethinking and get the discipline, needs a tight coaching. I had talked to many providers, but I thought with Markus Gabel will be the best choice for me. Why? Because he gives me the feeling that he really cares about my success. And i get right!
I am regarded as a disciplined person in my life, who has ridden ultra-racing for example, which requires a high degree of disciplin and training. I am able to discipline myself physically and mentally in my profession very well. But in trading it were very difficult for me. Until now! Because I get the direct feedback from my coach.
The difference in trading to the normal life is that in trading: "Less = MORE" and "Waiting and patience is the new DOING" This were neccassary that somebody teach me this skills.
Our target is during the next 14 months to get me a sustainable profitable trader. This success will allow me to capitalize my account to a 6-digit level by the middle of next year.
Than i will learn what kind of feeling it is with larger positions.
From 2020 i will work as a fulltime trader, with a solid, profitable trading approach. Be a part of my way.
Welcome tot he DOWHOW Project!