For this episode, I want to talk to women traders.
I see both men and women inside of our trading platform, Power Trades University.
And I see certain characteristics of both.
This isn't about right or wrong, or better or worse... this is just evaluating different styles.
And here are some qualities that I believe make women very good traders...
(Both genders have excellent qualities to bring the table, this is just focusing on the differences in a positive light)
Let's get into the episode:
1. Women have vision
Let's illustrate this using an example of planning a wedding.
Most women have a vision of how they want their wedding day to go, the different color schemes and menus, etc.
This translates into the stock market because most women have a vision for their finances and what their lifestyle looks like coinciding with that.
In the stock market, they have a clear picture of how much money they want to make and why they are trading in the first place. They are usually laser focused in order to accomplish it.
2. They have a plan
After they have this idea or vision, they spring into action to create a plan.
With a wedding, they will take months and months to create this plan and make it happen.
Now with the stock market, alongside their trading "vision" they are putting in the work to find a plan.
They research the company they are considering trading, finding the financials, reviewing the technicals, etc...
They are usually willing to put the work in and locate the details, in order to make a trade successful.
3. They give and follow directions to execute the plan
When designing a wedding, women can give out directions in order to execute their plan on their big day.
Typically this translates into the stock market in the form of following their financial goals.
They can get in a stock and have a detailed plan and follow it.
We are all human and sometimes our emotions get the best of us, but I have seen a lot of times women are very good at following their plan.
4. They make the hard adjustments
Ladies can make hard decisions because they have a vision and a plan and they don't want anything getting in the way of that.
Women typically don't get stuck on the need to be right, they make adjustments to the trade according to what the chart is telling them.
It it isn't working the way its expected, they can move on without that need to be right.
5. They ask for help when needed
Again, this isn't women are better than men or anything like that... it's just different positive characteristics each gender typically brings to the table.
Usually, women aren't afraid to ask for help when they need it.
If a trade is going wrong, typically they will reach out and get some coaching to help correct their trade.
In the stock market, asking for help is crucial because you don't know what you don't know.
On the next episode, we will dive into the positive characteristics that men bring to the table when it comes to trading.