If you take a look at Donald Trump’s insightful, if tongue-in-cheek, sexist comment tracker, you will see that women’s rights has suddenly become a huge talking point in modern-day America. This is a huge same, while it also undermines the value that women add to the business and financial markets on a daily basis.
Not only this, but it ignores the fact that women are beginning to supersede the performance of men across a number of economic and fiscal metrics. There is a growing sense that females make for superior forex traders, for example, despite the fact that this market remains synonymous with the classic Wall Street trading floor and a male-dominated environment.
3 Reasons Why Women Make Superior Forex Traders
So why do women make superior traders? Here are three compelling arguments –
- Women Are Less Inhibited by Ego
The forex market remains an exceptionally volatile entity, and one that often demands immense self-control from traders. Successful trades also rely on risk management and an ability to cut losing deals, which is something that women are more than capable of due to their typically humble and considered approach to trading. Unfortunately, men are often more orientated by their egos, meaning that they run the risk of stubbornly persisting with loss-making traders in the belief that they are right and the market is wrong, while risking huge losses as a consequence.
- Men Tend to Over Trade
On a similar note, the bullish and aggressive nature of male investors can force them to over trade and take on to much in the form of risk and commission fees. This can quickly swamp your potential profits, while female traders tend to maintain a more deterministic and modest market outlook that makes it easier to resist certain options at specific times. This can make the difference between success and failure when trading currency, particularly in the modern age where access to online platforms like FXPro drive constant market access and enable more regular (and impulsive) transactions.
- Women are Better at Following a System
We have already mentioned determinism, which is key to thriving in a market that is governed by a series of underlying rules and laws. Women are more inclined to sustain such an outlook and follow a predetermined trading system, in the steadfast and patient belief that they will achieve long-term results. In contrast, male traders can lack the patience to persist with predetermined strategies, particularly if they are not initially yielding results and the market begins to depreciate. This is crucial, as the ability to follow and maintain a level-head is central to forex trading success.