I research, read articles and combine it with own words about what a GOOD "Female Traders" are and their characteristics. I post these on my old thread and I thought I should post it here as well...just for fun
[I]Female traders..ha! yah right. Yeah, I know I can feel your doubt about this (to some alpha male out there) but just hold on your horses and see if female have these traits to become a successful traders as well.
So lets take a look at what are the key personality traits of a successful trader.
1.) The ability to stay focused.
2.) Remain calm under pressure.
3.) Adapt to new information and trends.
4.) Use their initiative.
5.) The ability to do multi-tasking (I just add this ..just because )
As with many aspects of wealth appreciation, an individual’s success in trading depends
Significantly on their psychology and mind-set. Although, regardless of how much experience
someone has or how much money they’ve previously made, anyone is capable of making bad
calls in their trades.
So what separate us female traders to the men and why we can be better traders than them? Though, not “all” females can be better traders. There are always exceptions to the rule. There are those females that do not want to deal with finances (personal or business) and the financial markets as a whole and want to have males handle this fancy job…
First, Female do not worry all that much about things that are not in their control. Naturally focus on the objective information (what is real) the Key in successful trading. In trading, it is the objective and logical mindset that gets paid from the subjective emotional mindset. When trading opportunity arises and it is time to take action (aka. pull the trigger), the female mindset tends naturally to execute the trade that has planned out (homework). Female mind has the naturally logical mindset needed to understand the material quickly. Male mindset has difficulty keeping things simple, naturally trying to complicate the process.
An example would be to constantly add subjective indicators and oscillators (if you ever use this) that can lead to trouble for any trader. Men also tend to be focused on trying to predict the future whereas a woman uses simple logic to consistently make the correct choice. They have the natural ability to keep things
objective, simple and logical. The man tends to have trouble in these areas, which can make trading for him more difficult than it has to be.
Second, what makes women more successful is the fact that they don’t have the “alpha male complex”. One of the main problems in men was that trading for men was mostly about being better than other men (an alpha male competition) and this led men to take unnecessary risks and to feel extremely bad when they didn’t make extraordinary gains. Women, on the other hand, tend to lack this urge to compete, focusing much more on whether or not they are doing things right rather than on whether or not they are doing things better than someone else.
Third, women in general tend to much more risk averse than men. Certainly women tend to risk less and to take higher probability setups, meaning that they are much more careful with their money and less likely to have more account wipeouts than men on their learning process.
Forth, although the tools are generally the same, women tend to have a much easier grasp at interconnecting several different aspects of the market. Since their brain seems to be better overall at forming connections between different matters, women are better at watching the “whole picture” while men tend to get stuck in small details which do not allow them to see what is happening overall.
Many men would also think that women have a harder time dealing with the emotional side of trading (since they are generally thought to be much more emotional) but the truth is that this is far from the case and in most cases women are more emotional but much MORE emotionally intelligent than men…ehem Since women are in general more in touch with the way in which they feel about things they tend to handle their emotions better and make less stupid mistakes based on the way in which a trade or a trading result makes them feel.
Why women tend to avoid becoming traders? The answer seems to lie on the fact that women tend to choose to do things which have more meaning besides the intent to make money. Those who do tend to have very money-oriented personalities and a very strong idea of being better than men at this. That said, it seems that women who become traders have a set of very specific goals and mindset which are not very common amongst other female in general. Of course it is true that this may change as the success of women in trading becomes more well known and it would definitely be great if women became a much larger part of the overall trading community.
So although the above advantages against men do not apply to all women (nor the problems to all men) traders hold the upper hand when talking about succeeding in trading. Their lack of an “alpha male complex”, their higher emotional intelligence and their ability to see and connect things beyond what men can do in most cases is what makes women such good candidates for becoming excellent traders ().
If the main driven for men to become successful in trading are Money, Power, and Women, so are the main motivation to us female to become successful at this? Money, Sense of Security…and …and a life time of shopping ? Hmmm..I am not exactly sure. I have to think about this one..
References: Who Makes a Better Trader, Men or Women? | The Options Insider
Women in Trading: Why They Rarely Do It and Why They Are Better At It | Mechanical Forex
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