Firstly, I must say that I salute the females trading the Forex market. It is a well known fact that the Forex market is male dominated However, lately more women have been climbing the ladder of success in Forex trading. This goes to clearly show that what a man can do, …… complete the sentence. If you know, you know, lol. There are a lot of reasons why more women should trade Forex these days. Ever since I started trading, I have had more encounters with male traders than female traders. I am writing this specially to all aspiring female traders to let them know that there’s enough room to accommodate them. Females naturally have some qualities that contribute to the success of one’s trading career.
Female Traders Strengths; Top 5 qualities for success
1. Patience
Female traders are usually more patient to wait for the right trading set ups. Men are more aggressive than females. Profitable trading generally requires patience. This natural quality in women gives them an edge to be successful in trading Forex.
2. Discipline
One quality females have is that they are not prone to breaking rules as much as men do. They think long term. This makes it easy for them to follow trading rules of the strategy they trade. This is another major reason why more women should trade Forex.
3. Risk Averse
When it comes to taking risks, females are more conservative. This protects them from huge losses during drawdown periods. Men are usually more aggressive when it comes to taking risk. Due to the aggressive nature of men, they could easily lose their trading capital during unfavorable market conditions. Good risk management is a major quality successful traders have.
4. Emotional Strength
Female traders are less likely to revenge trade or overtrade especially when going through losing streaks. They tend to have a more positive attitude during winning and losing streaks. Because of their averse nature to risk, they are able to sit down and carefully react logically instead of emotionally.
If you are a female looking to build a successful career in trading, these are some key things you need to know
1. Get Educated;
Getting knowledge in any field of endeavor is the starting point of success. Invest in good Forex education from traders with proven track record of success in trading. The Forexlyfe course is available for you to kick start your learning from beginner to advanced stage.
2. Be Resilient and Determined;
In a male dominated industry, female traders could face gender bias stereotypes. However, you are to ignore the noise. Focus on getting the knowledge and improve in your performance on a consistent basis.
3. Join a community
Do not stand aloof. Reach out to other female traders who encourage you to level up your trading skill. Trading is more fun when you are in a community of like minded traders like you. So get on board, start today to learn how to trade and you’ll be glad you did.
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