We very pleased to wish all the Women of the South Africa a very Happy Women’s Day and I would like to thank you for everything you do for us and the massive contribution you make in our lives.
In keeping with the spirit of today, I thought it might be nice to celebrate some of the reasons why many women make better traders than men and how the guys could possibly learn from some the traits that I have observed over the years.
We have seen a huge increase, proportionately, in the number of female FX traders that have started to trade and do it seriously. And no, this is not the bored housewife who has nothing to do with their time once she has dropped the kids off at school. The ladies that are involved are generally career women who are developing a passion for trading and dismissing the “boys club” only attitude. Guys, let's not take this article the wrong way… This one is for the ladies.
Women Don’t Have The Same Ego As Men Do
They tend to be happy to accept that they are wrong and the market is right and cut losing trades better than men. We will often hang on saying the market is wrong, it will come back and our judgement will be correct in the end.
Women Tend To Be Calmer In A Crisis
Women do not fly off the handle like a man might. “Fight or flight” kicks in for the guys and too often it tends to be fight when the right decision would be flight. Happier fighting a losing forex trade than cutting it … seems a little silly when the market is $5 trillion a day and our small $100,000 is not going to make the slightest bit of difference.
Women Are Better At Following A System
Many of our mothers and wives are fantastic bakers. They do not become that way by throwing in a bit of this and that and hope the chocolate cake will come out ok. Baking is a science and to be good you need to stick to the recipe at all cost. In a similar way, trading forex is a bit scientific … stick to the rules and you will be so much more likely to succeed.
Men Tend To Overtrade.
This can be a big factor in the success of your account. Firstly, you are paying a little extra commission away and any other associated costs (swap) but the fear of missing out can have a detrimental effect on your decision making ability. Sometimes the best trade is not to have one and women are better at saying no than men are.
Women Are More Dedicated
Women tend to be more deliberate and committed to their trading than men are. For many guys, forex trading is a hobby and if I turn out the be any good at it, then I will take it more seriously. Women want to make it work from the start and will put in the hours to give themselves the best chance. Their sometimes cautious and diligent approach stands them in excellent stead.
Leveling Things Out
The final point I would like to make it is that the FX market is a level playing field. There are no quotas to meet, no gender bias, no career or earning ceiling that you can’t rise above. There is no positive or negative discrimination in the forex market and there are no real barriers to success.