Through my 11 years of trading experience, I’ve found out something interesting. Most men that start off trading, want to be right.
They get into a trade according to their strategy, but will keep holding onto it until they’re “right”.
Even if the trading strategy goes against them where they lose money, men will just keep holding on.
The need to be right is more important to most people, rather than trading correctly.
And then when I ask them why they don’t get out at a small loss and look for the next trade, they tell me this.
“I’m going to go big or go home.”
I’ve never heard such nonsense in my life. I mean that one little trade, could end up destroying his account.
But with ladies it’s different. They know when to get out of a dangerous situation, without clouding their judgement with ego and with the need to be right.
They’ll follow their plan in a strategic and well thought out manner. This is the key characteristic to make money trading the markets.
But I thought women are emotional and hysterical when it comes to life?
Ok, it is understandable that women can have hormonal changes and mood swings once in a while. But when it comes to an actual crisis or problem, the ladies are more risk averse.
They are known to be calmer in a crisis, where they make better decisions in an unemotional and strategic manner.
So if their trade goes against them, they’ll re-look, re-analyse and act in a way that it saves their portfolio.
Unlike majority of men, who love the drive, danger and adrenaline of weathering through a crisis.
Now before I continue, let me just state my disclaimer now, before you unsubscribe for me being so “controversial”.
Not all females and men will be great traders. Not every woman I mention in this article are the same. So please don’t send me emails telling me how you disagree with what I have to say today. I’m only stating what I’ve seen throughout my trading career.
And men! If you want to profit from the stock market, then you need to be a little bit more in touch with your feminine side.
Men like to go against their trading strategy because they “know” better
What happens when a man gets lost when driving? And this includes me!
We like to try wing it and keep driving until we find the destination.
I remember I got lost in France for 14 hours, when I was younger and I refused to ask for directions. And two years ago on the 4 July I got lost again in Paris for six hours and I also never didn’t ask for directions.
I don’t know what it is, but it almost becomes a challenge to find our destination without asking for help.
But with women, in general, it’s different. And I definitely see it as a strength and not a weakness.
Women, will happily go to anyone with a smile on their face and pure confidence to ask for directions.
And guess what, they’ll reach their destination before us men find the place.
With trading it’s the same, most men have the map “trading strategy”
they need to profit from the market. But they seem to go against their own plan because they “know” better.
And don’t worry I tried to follow my own trading map for over five years. After being down 30% of my portfolio and a HUGE dent in my ego, I learnt my lesson.
So when you have a proven and back tested strategy, please follow it!
It’s proven for a reason. So follow it and make money using it.
It’s as a simple as that.
I guess when it comes to trading, testosterone isn’t always your friend.
Know when to say NO! Follow your trading map as you should, don’t have a losing ego state of mind and never think you are better than the market.
So until next time, get in touch with the winning female traits and put on your big girl panties.
And ladies, you got this!
"Wisdom yields Wealth"
Senior Editor: Trading Tips
: Red Hot Storm Trader
Author: 94 Top Trading Lessons of All Time