I am launching my blog because I intend to have a professional journal where I can share day-to-day reports, analysis and resources that I use with my team and clients. With this in mind, I believe this article “Online Trading As A Woman- The Beginners Guide” will wholly change your way of thinking if you are new to the trading field.
I would like to start by answering the most common question. I get this mostly from women who have reached out to me on different social media channels.
I believe money is essential to be able to live comfortably. This is because it allows you to buy your independence. Do you depend on other people financially? Do you have a job that you are not passionate about? Are you of pensionable age and you wonder if you will continue to have the comfortable life you are used to? If you have all these doubts, the solution is to learn new skills. This is why I want to introduce you to a skill known as online trading for women.
I invite you to keep reading and clear your doubts.
Table of Contents
1. What is online trading?
In recent years, trading has become popular simply because you can generate an extra income from the comfort of your home, thanks to technology and the internet. Since the arrival of the internet, you and I can conveniently buy and sell financial products such as currencies, CFD, trading stocks and even short-term indices (less than a year) in the different financial markets through a platform of trading, a broker and thus generate an economic return during that transaction.
I’m very sure all these sound like abracadabra to you. I thought the same thing when I started. I have however made it easier for you. I will explain how online trading works and how you can learn it too.
2. Why is it important to learn online trading?
When financial crises occur, financial markets react due to different economic factors. Here, traders and investors generate money. Those unfamiliar with this field focus on how to survive when these cycles of financial crises occur.
Traders search for openings in the financial market to generate more money intelligently. We do not depend on employers of clients, but on our knowledge and the experience that we gain by following this path of trading. Should the price of a financial instrument move, we get interested in finding the direction of the price movement and earning a profit from that movement.
Money is essential to be able to live comfortably and it allows you to buy your independence.
3. How to get started with online trading
To begin, you have to be clear about which financial market you want to operate. Every financial product is linked to a specific financial market and also to investment capital. For example, let’s say you want to trade currencies, then your approach would be to trade the forex market. If your interest is to operate stocks or shares, your focus would be to operate in the stock market.
Each financial market is linked to investment capital. Thus, to start trading or investing, you will need money capital to start growing that money. It is very important that you invest with money that is not linked to your primary needs.
4. Tips for success in online trading
Many traders out there do not succeed because they don’t have patience. Also, they have their ego in the way. Entries and exits are crucial in trading. This means that you know how to catch the right moment to open a trading operation and exit on time with profits. To be successful in trading you have to want to trade, have a passion for what you do. You are the only person who can find out if trading is something you want to dedicate the rest of your life to. The tips for success are patience and control of your emotions.
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This is the plan I followed to save money to start investing.
- The Money Saving Plan Challenge (in three currencies)
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5. Common Questions/FAQ about online trading
The golden question is: To learn or not to learn? You have to begin by understanding the language that traders and investors use. It is therefore super important that you start educating yourself with trading terminologies. From then onwards, you’ll make the best decisions so that your money begins to multiply. If you are still interested in knowing more about this topic, please read my book “Trading For Success; 8 secrets why women are better forex traders”. There, I explained how this new, online trading skill is gaining popularity among women and why you should venture into it.
5a. What does a trader mean?
A trader is a person who is dedicated to buying and selling a financial product to obtain a short-term profit in less than a year. There are two types of traders- Retail traders and institutional traders. Retail traders are people like you and I who trade in the market with our own money to obtain a profit from a financial market. Institutional traders are professional traders who trade other people’s money and generally work for very large banks companies.
Note also that a trader is the opposite of an investor.
The investor buys stocks and holds for more than 5 years, while a trader will speculate on the financial market in less than one year.
5b. How many hours a day do traders work?
This will depend on the type of trading you decide to venture into. It can take minutes, hours, days, weeks, months, depending on your personality. For example:
- If you are goal-oriented, you might focus on “scalping.” Scalping means that you trade severally on a daily basis. You approach the markets in timeframes of minutes.
- If you have a conservative personality, you should consider day trading or positioning trading. This means you will be patient enough to open and close a trade within days or weeks.
There are different types of trading. I invite you to learn more about this topic in my book Trading for Success.
5c. What makes a successful trader?
Your success as a trader will depend on your effort, knowledge, training, dedication, and control of emotions (trading psychology). In addition, the strength of a trader is in his skill, creativity and passion for charts.
5d. Can you become a trader without a degree?
Yes, absolutely. You don’t need a degree to become a trader. It will however require dedication to learn the terms of trading. In this article online trading you can learn more in detail.
5e. How do traders make money?
Traders and investors are only interested in the price movement. If the price of a financial product moves up or down, we are interested in getting a return on that movement. This is not rocket science, but you need to know how to do it.
6. Reasons why you should learn online trading?
The following are reasons why you should consider learning this skill:
- Build your financial confidence: Getting knowledgeable in this field gives you the confidence to take crucial finance decisions for your future and your loved ones.
- Balance the financial system/challenge the status quo: If we are being honest, for centuries, males have been dominating the financial sector. I believe in the current days; women have shown that they can be more and do more than just leading the family home. Research shows that women are capable as men to become great traders and leaders.
- Leave a legacy as a woman: Yes, that is right. Creating the domino effect starts at home. It is the same when you give love and attention to your kids, you give to society positive human beings. If a mother learns this skill of trading, she most probably will pass this knowledge to their children. By doing so, you become a part of the community of women traders closing the gap between males and females in the financial markets. Also, teaching your children how to be in charge of their money is the best gift you can give to them.
The last thing you need to know about online trading
If you teach a woman something, you teach much more than just that woman; you teach an entire community. Hence, it is important that you are knowledgeable in this field. Please, don’t get me wrong. I am not a feminist. I am empowering women to come into this sector because we can be women traders as well and yes, we can manage money in an easy and wise way as well. I believe in a balanced system where you can use the two powers that we have inside us- the male and female energy.
If you enjoyed this article on Online Trading As A Woman- The Beginners Guide or have any questions for me, please feel free to leave them in the comment section below!
Recommended Resources: If you’re interested in learning more about online trading, check out my book “Trading for Success; 8 secrets why women are better forex traders” and take a deep dive into my blog.
