Back in 2001 study entitled, “Boys Will Be Boys: Gender, Overconfidence and Common Stock Investment,” by Brad M. Barber and Terrance Odean looked at the trading and investing behavior of over 35,000 households.
In short, the results showed that men traded around half as much again as women.
Now anyone who has done much trading of any kind will tell you that the only people who really benefit when you trade a lot are the brokerages; whatever the trade subject.
So there we have it – women trade better. This is because they tend to be calmer, less aggressive and go with the flow a little longer. They aren’t as easily spooked into trading and their slight lack of competiveness, on the whole, actually means they perform better, ironically.
Whether this is the case, or not, in the world’s biggest of all trading markets, I have no idea. But I think the same principles will apply.
“So what is that market?” I hear you ask. Well, it’s the international foreign exchange market or “Forex”.
The Forex market is open 24 hours a day between Monday and Friday and has traditionally been the preserve of hedge fund managers, big banks, big business and a few crazily rich individuals.
But there’s no reason us girls shouldn’t get in on a slice of the action and the study I referred to above may even mean we’re better at it than men.
If you find the right Forex broker, you can follow their online tutorials, guides and tips and get to understand the Forex market without taking any risks whatsoever.
The easiest and wisest way to get started is to try out a demo-only account at first, but really try and be self-disciplined in trying to act exactly as you would if it was real money. Then try different strategies out for a good while to see if you’re really suited to it before you take the plunge for real.
This article was written by David, who is always on the lookout for a great forex broker to help him out with his trading plans.