Is someone trading with wife/husband?

Hello everyone,

I’ve been studying technical analysis for one year or so and trading forex for 3-4 months. Few weeks ago, my wife decided to follow me and started studying as well. I think that will be great since we both are studying together.

So, I’d like to know if someone is trading along with your wife/husband to share the experience.

The question we are facing is if it’s a good idea we both trade forex, as the pairs are correlated. If we both buy in two different pairs in a uptrend and the price goes down, we will have double loss. Ok, we can win too, but we both must be right in order to profit consistently. So, wouldn’t it be better I stay on Forex while she choses index or commodities? Does that make any sense??

Thanks!

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I think you’re very fortunate.
One issue that crops up occasionally, especially with new traders, is that they have noone to talk to. Friends and family just glaze over and nod their heads at you when you try discussing.
Its not that you necessarily want their help or opinions, it’s just nice to talk sometimes.
The fact that she’s trading as well gives you someone to bounce ideas off without feeling embarrassed.

Good on you both

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When trading with your wife
(and i’m not being sexist here) I’ve been married for 15 years

it’s important to understand that the way guys are is … Guys are more inclined to be LOGICAL then EMOTIONAL
woman are MORE EMOTIONAL than LOGICAL

so a woman to do trading is possible, but it’s much harder for a woman to get it, and it’s harder for a woman to disconnect emotions from trading than it is for a man

Now. if a woman in her career has to make logical decisions, then, it will be easier for that woman to grasp the logic of trading.

so just be aware that when trading with your wife, it may or may not work
and maybe you need to find a middle ground in how you explain things to her

but… IT CAN WORK
its’ the sort of thing that it will either cause more arguments in your marriage or it will make a marriage strong.
all trading aside and all money aside

this practice of trading with your wife is definitely good marriage councelling and practice hehe
definitely a good marriage tool to build a strong relationship

be cool

SOme years ago, my wife asked me about my poker playing (online) and decided she wuld like to play too. Now she does, BUT we do not play together. Her approach tends towards cautious (tight passive) whereas mine tends to be the opposite. She often gets “To the money”, I do not get there as often as she does. However, if I do get there, I will win 50% of the tournaments I do get there in. She very rarely wins a tournament, but “cashes” far more often than I do.

If she tries to do it “My way” she fails. If I try to “Do it her way” - I fail. Although clearly if we could combine our strategies, with her “Getting to the money” then me “Playing the final table” we would maximise our earnings. However we have not fynd a workable way of doing that as yet.

If we sit together and one of us tries to play, the player is influenced by what the player thinks the “observer” would do. It is simply not workable because our base strategies are different.

I guess we are both “Emotional”, but I chose “fight” more often and she chooses “flight” more often.

This in my view fully accords with the “Evolutionary psychology” of the sexes, with man as “hunter” and woman as “Gatherer / nurturer”.

There have been studies which showed women to be better “investors” than men - because they tended to buy and hold but less frequently, whereas men “traded” and lost a lot of cash to “commissions” (in our case “spreads” )

There also seems to be some evidence that men tend to be more emotional than women - across the world the statistics are consistent, showing a lot more men commit suicide than women. Also in divorces, women are usually far quicker to “rebuild their lives” than men.

So what I am trying to say is that it is good that as @eddieb says, you will have someone to talk to. Many of us are here for exactly that reason. This can be a lonely addiction !

The big BUT is that you must each find your own strategies and instruments to trade. Do not try to do it “by committee”.

By all means discuss and co-operate, but each develop your own timescales and startegies. Do not try to “Compromise” - unless your personalities are identical (Almost impossible - remember “opposites attract” ), any "Compromise will be counter productive.

My wife has no interest in trading.

Some good thought processes shown in your original post - promising :sunglasses:

Hope that helps.

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Two person can trade the same pairs or closely related pair following the same direction. Yet, one can be profitable and the other unprofitable. This is because the timing or the price which one exit may be different. Everyone life’s schedule for trading is different. Position sizing and money management style could be different as well.

I think trading forex is better than trading commodities in the sense that you can trade forex from monday to friday with a small gap of uncertainty on sat and sun, whereas for commodities there is small gap of uncertainty everyday, you may need to close trade on a daily basis.

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Carry on mate. Be careful in making trading decision. Loses in trading may bring unhappiness in the family. If you can tackle everything, it would be nice for you.

It’s a very challenging decision! Because, there is no certainty in Forex! If you are confident enough about your trading skill; then you can inspire your partner; otherwise no way!

There was one member here who used to be active, but so much anymore. From what I can remember her husband was a trader, and she was in the process of being taken under his wing. She was very much on the ball and I have no doubt it worked out. BP can be rather distracting, even at the best of times, perhaps one reason why she isn’t as active here anymore, hopefully it’s not because of the latter…

Hello guys!

Thanks for all the advises. They are very valuable.

Actually, my wife and I are self-employed and we’ve worked together for 8 years. So doing a same thing to earn money is no longer a challenge, fortunately. Since she started to study, I have a chance to review many concepts, learn even more and revise many wrong trading habits. That has been a enormous contribute to me.

@alphahavoc Thanks for the input. After I posted here, I had some thoughts similar to what you said. So I’m happy I may be right. As we make progress, each of us will develop different skills and will probably trade in a different way, then, as you said, exits will be also different.

Cheers!

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Seems funny that the BP newsletter linked to a thread that is over a year old, but anyway, since they did, I will comment.

If my wife showed an interest, then I would be very regimented about our approach for the trading day/week. Here’s what I mean: I would want us to develop our own styles and trading time frames. That way, we would minimize correlated trades, as you mentioned as a concern. We each would find our comfortable niche for trading. The BP School dedicates several lessons to your trading personalilty. So, why regimented? Agree that during trading you don’t share what you’re trading or PnL and during study you don’t share ideas. Allot a dedicated time for sharing (either daily or weekly) where you are away from the charts and away from study materials.

I think this approach would relieve pressure from each other (you know, the constant “'checking in”). Also, I would agree up front that you’re going to develop your own styles separately and that there isn’t a right way or a wrong way, just whatever way works for each of you. Also, I would look to avoid any profit goals at first. Each find your style that is profitable and you can scale from there.

Hope this helps!
Matt

Oh… and @alvarob… how are things going since your last post over 18 months ago?

Perhaps you have succumbed to confirmation bias here (seeing what you expect to see)?

The evidence points in the opposite direction. Women (and men with lower testosterone) are much less likely to let emotions sway their trading decisions than people with higher testosterone levels.

When combined with cortisol (stress hormone) which is released in stressful situations (both positive and negative) the hormonal cocktail leads to extreme overconfidence to the point of blindness to logic. In a market reversal, this has historically (e.g. last GFC) lead to huge losses.

wow what a beautiful way to trade guys keep it up

Just her money.

Hi, I’m trading with my wife as well and I think it’s an amazing experience. You’re lucky that your wife is interested in forex too because that way she’ll understand the risks of it. Even if you lose or profit she’ll know why and how (same if she lose or profit).

Imagine how difficult it’d be to explain someone (your wife) that does not know how FX works when you lose xxx money in one day?

Also as many people told you already, it’s great to have a partner to talk about forex too. In my case it’s great when we both profit in the same day, some days she loses and I win and other I lose and she wins. When we both lose we know how we feel so we can cheer us mutually.

Good luck and let me know how’s your trading life with your wife. :slight_smile:

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there is nothing 100% in Forex trading in spite of having good knowledge and experience. so always be careful when trading , dont take any decision by overconfident and emotions. happy trading.

Thank you for sharing your experience. I’m new to this and I hope to succeed. If you know any video tutorials for beginners, please let me know. To be honest, my wife and I have a lot of family problems and I think we need to solve them first. To do this, I work with a family psychologist, and read various blogs about marriage such as this one https://marriage-professor.com/ to correct my mistakes and not make new ones. And I think that if we do trading together, it will bring us closer.

Hoping best for you in the future, forex business is for everyone. In a home husband , wife and children can all do this trading using their accounts. The required thing is just trading skill. Who is doing this forex market does not cares about it. It is just operating an account that can be a man or woman.

I think trading with one’s spouse can end either very well, or very poorly, depending on how well they work together.

I trade with my girlfriend. We even use separate brokers as a way to diversify fund. I presume a girlfriend counts right?