The weighing scales indicate male popularity by a ridiculous amount when you measure which community is more active in the forex trading market, male or female. Women have freedom of deserved rights in terms of their lifestyle, career and so on. However, currency trading and investing is still a “male” marketplace with a limited number of female traders. In this article, 7 most common myths revolving around the forex market keep women from forex trading will be discussed.
Before we take a quick look at glimpsing into the mystery of women trading, let’s take a look at 7 myths explaining the phenomenon.
1) Women Can’t Tolerate the Intense of Forex Trades:
It is a misconception that discourages women from forex trading. Women have the ability to adjust the moving markets and making tough calls, there is nothing to do with gender. There is no doubt, Forex is very scary and erratic but it is never unmanageable. If a trader belongs to any gender put his/her efforts in Forex Trading – it will get results in the successful trades.
2) Women are bad with numbers:
Men are better with numbers is a fake claim that drives away aspiring women forex traders. According to research, the ratio of women is low in different jobs based on numbers, but you can’t say women can’t do. As you know, Forex Trading needs different analysis, numbers, and patterns, in order to attain mastery over this; it is all about making good practices. Using the Forex Demo Trading account, everyone can learn easily with a limited time period. Once you completely understand the basics of trading and planning your own trading strategies for making profitable trades, it is a perfect time to open a Live Trading Account for real trades.
3) Women have no proper time for research:
If you want to be a successful forex trader, you need to understand the in-depth technicalities first. A number of people believe that a female can’t invest her time in technical, fundamental analysis, and other time-consuming processes. The majority of men are also the week in research; it is the main reason why only 20% of Forex Traders experience profits. All from currency-pair behavior to forex market analysis has to be done to guarantee a sudden trend shift doesn’t catch you off-guard. Nowadays with the popularity of the Internet, Forex Trading educational material is available on many platforms in different forms.
4) Men Handle Risks Well than Women:
The consistency of the risks is a common thing in Forex Trading, with big risks, you can make big profits. Trading risks get scary when the trades don’t play out as you want them to. In these situations, mental and emotional control over your investments is necessary – women are also capable of doing such things. Read another article to increase your mental strength.
5) Women think Forex Trading is Dangerous:
This is wrong, women are more cautious about money and taking risks, actually, these abilities are great for trading. Actually, women make better trades than men – they ignore the common mistakes in trading due to responsible approaches to risk management and results in more profits. Impulsiveness and greediness are very dangerous, and women have a better ability to take reasonable risks without losing control.
6) Women tend to do worse in crisis
Women are considered very emotional, while men are known as more rational. When any crisis occurs it is often believed that women from forex trading would panic and make worse decisions.
According to a study conducted by DAB and German Comdirect Bank, during 2007-2008 women on average did 4-6% better than men.
7) Women are not interested in Trading and Finance
Knowledge of the financial market was distributed through universities and schools which were attended only by male traders. This myth is now proved as false with the free availability of learning material on the internet. Women trading population rising by 2% on an annual basis, the myth is not reflective of reality.
There is a clear gap in the men-women ratio when it comes to trading in the forex market. Due to a number of reports going around, women tend to hesitate from the currency market. Succeeding as a Forex trader finally boils down to discipline and skill – neither of which takes gender into account. With a good and knowledgeable trading assistance, anybody can get started with Forex trading!