It is no surprise that a female trader can trade on an equal footing with men. And even though there are only 10 % of women on Forex market, their achievements are incredible.
Cynthia Case is the author of unique indicators and trading strategies. She has been a market player since 1983, and manages the billion-dollar capital of more than 30 investors.
Linda Bradford Raschke whom Jack Schwager called a "market magician” had been successfully trading futures and commodities on the stock exchange from 1981 to 2015.
What do these women have in common and what is the secret behind their success? Keep on reading to find out.
In todays article, you will learn about the following:
1.Why men choose Forex more often than women
2. Female psychology: TOP 5 qualities for successful trading
3. How a woman can make money in Forex
Why men choose FOREX more often than woman
Let’s face it: trading in financial markets is risky. Overcoming fear and hunting after profits are a part of men’s identity, whereas the women prefer stability and confidence in the future. When it comes to trading, this is unachievable: one month turns out to be profitable, and the other can bring loses.
Women are scared of the high risks associated with trading in the foreign exchange market. In contrast to men, they are more responsible and disciplined. Partially, this is the key to the success of female traders.
Female psychology: top 5 qualities for successful trading
- Serious approach and self-discipline. Women are more inclined to follow the trading strategy rules, comply with the trading plan and reasonable money management. This protects the deposit against drawdowns and provides a major advantage in the market.
- Patience. Female Forex traders are able to wait patiently and ignore false signals. This skill is essential for consistent profit. Men are more likely to take unjustified risks, while women can choose the perfect time to enter.
- Attitude to failures. Women handle failures much better, whereas a trading drawdown can easily put a man off his stride.
- Intuition. The women seem to have a better feel of the market signals. That being said, this quality should not be overestimated! One should use logic and knowledge rather than open orders without giving your position a good thought.
- Multitasking. A woman can easily juggle multiple tasks at a time. She can simultaneously analyze various charts and control open positions without missing indicator signals.
How a women can make money in Forex
In order to start trading, one doesn’t need to have a huge starting capital. You can make money by having as much as $500. With an average monthly profitability of 20-30%, it is possible to make $100-150. Thus, the investment can pay off within six months.
To trade Forex, you need to have a computer or laptop connected to high-speed Internet. MetaTrader 4 trading terminal needs to be installed on your device. Once you open an account with the broker, you will be making all of your trades there.
The first step on the road success is to complete a training course. Just like man, a female trader will trade more profitably, knowing the basics of fundamental and technical analysis.
Once you have undergone training, you can practice trading on a demo account. Gerchik & Co offers such an option.
After putting your acquired knowledge into practice with a demo account, it is time to proceed to live trading. To do so, open a real account and get verified. This is a standard document verification procedure that is always done at the banks and other organizations. It is needed to ensure the safety of your funds.
You can easily replenish your account or withdraw your funds in any way convenient for you. You can find full information replenishment and withdraws procedure here.
Juggle work and household chores effortlessly! Start making money thanks to trading now and help female Forex grow.
What to know:
Protect yourself against the trading risks
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