Women In Forex Trading
Women traders you say? No, it’s a man’s world! Well, it may have been male-dominated once, but certainly not anymore. Forex trading is for anyone, be that a stay at home mum, university leaver or even after retirement. It can be a full or a part-time occupation. Since Forex trading went online, it is gender and age-friendly. That is not to say it is for everyone, or that it is a quick fix for financial problems.
Employment figures show that the increase in women in the workplace in Australia is continuing to rise, with 2017 seeing a surge of 209,000 against men’s employment growth of 178,000. Second jobs are becoming the norm in Australia as people struggle to maintain their lifestyles, and Forex trading is an excellent option.
But, a big but, you need to put the work in to make it a successful venture. That means time to research all the aspects of the job, time to undertake a free Forex trading course and time to gain experience. This is an occupation that holds a degree of risk, and you also need to be sure of your financial position and the budget you have available to use.
You Need To Have A Man’s Aggressive Streak To Be Successful
In a study undertaken by Peter Swan for the ASSA, this is not the case. The psychology of a Forex trader is to be cool under pressure, be able to multi-task and be focussed. You need to be able to make decisions based on research and know when to stay or when to fold. Both sexes are capable of these elements, but increasingly it is thought women are actually more capable.
Men’s aggressive nature can make them more bullish, which can be seen in the inclination to overtrade or take a more significant risk. Women are perceived to be more conservative in their approach and tend not to let their ego get in the way. To be a successful trader, a cool and level-headed approach backed by the ability to keep to trading plans is essential.
Why Women Should Consider Becoming A Forex Trader
The business can be conducted 24/7 and is not office based. As long as there is access to a good internet connection, currency trading can be performed from anywhere. If you are interested, then take an introductory look at what trading currencies is all about. It might surprise you how straightforward it can be. This not to say Forex is suitable for every women, or man for that matter, but they can learn from each other to be better traders.