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As feminists, we believe in equality between the sexes, yet we’ve all heard a friend or acquaintance at some point lament how different (and how much better) the world would be if women filled the top jobs. Although we, as a gender, have undoubtedly smashed to smithereens sections of the glass ceiling in recent years, a shell of the structure still remains to obstruct us, contributing to a significant gender pay gap, and an under-representation of women in senior business and political positions.
Yet the latest research suggests that there is one area where we may reign supreme: forex trading. Although the female faction may not represent the largest group on the currency markets, it seems that we’re far more successful than the opposite gender. Here, we look at three typically ladylike qualities that are claimed to give us the edge in the cutthroat world of currency trading.
Women are More Conservative
One of the traits which supposedly makes female forex traders more successful than many of their male counterparts is that they’re more conservative in their approach to trading. According to psychologist Gary Belsky, this makes them better at saying ‘no’ to propositions that pose too high a risk, thus helping them to limit their losses and preserve their profits. This personality trait also means that they find it easier to stick to their strategy, rather than deviating from it to make a gamble that may not pay off.
Women are Less Reactive
In addition to this, male traders have been proven to be far more reactive in a crisis, giving the girls the edge. Able to keep their cool when things go wrong, our female brethren can maintain their composure and retain an objective approach to trading, stopping them from making the hot-headed mistakes typical of men.
Women are More Patient
Thirdly and finally, women traders are better versed in the art of patience. As a result, they find it easier to stick to long-term strategies, even if these don’t appear to be delivering immediate results. It appears that this ability to play the long game pays off, delivering greater profits over time than the more immediate gains sought by their male counterparts. What’s more, females are less likely to jump ship and cut their losses when the going gets tough, instead preferring to wait out the storm and sit on their nest eggs until the landscape once more brightens.
Although every woman is an individual, it’s interesting to note how typically female-associated traits can be used to secure such successes in a predominantly male sphere. The lesson to be taken from this is simple, girls: let’s use what we’ve got to make the most of our lot.