Being in denial of one’s trading problems is the most dangerous stage of the trading journey. At one point or another, all traders go through this ‘denial stage’ with their trading problems, and how fast they get through it or if they get through it, is what determines when they get on the path to profitable trading, if ever.

It’s widely known that the first step in the 12-step Alcoholics Anonymous (AA) program is simply admitting that one has a problem with alcohol or substance abuse. If you cannot bring yourself to admit to your problems, whether they are drinking problems or trading problems, you will never conquer them and move past them. Unfortunately, not admitting to your trading problems can be just as disastrous to your trading account as an alcoholic’s drinking problem is to their health. Being in denial of your trading problems means that you will continue to make the same mistakes, over and over, until you either lose so much money you are forced to stop trading, or you finally wake up and ‘smell the roses’.

In today’s lesson, I am going to put forward a ‘Trader’s 6-step Program’ that will act as a guide to help you cure your trading problems and hopefully get you out of the trading rut you might be in right now…
Step 1 – Admitting to your Trading Problems