I am launching my blog as a professional journal where I can share day-to-day reports, analyses, and resources that I use with my team and clients. With this in mind, I believe this article, “The Beginner’s Guide to Online Trading as a Woman,” will wholly change your way of thinking if you are new to the trading field.
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 would like to start by answering the most common questions I get from women who have reached out to me, mainly on social media channels.
Table of Contents
What is online trading?
In recent years, trading has become popular simply because you can generate 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 various financial markets through a trading platform and a broker and thus generate an economic return during that transaction.
Perhaps all these terms 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.
I invite you to keep reading and to clear your doubts.
Why is it important to learn about online trading?
When financial crises occur, financial markets react due to several 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 the employers of our clients but on our knowledge and the experience that we gain by following this trading path. Should the price of a financial instrument move, we are interested in finding the direction of the price movement and earning a profit from that movement.
Why is it important to learn about online trading?
How to get started with online trading
To begin, you have to be clear about which financial market you want to operate in. Every financial product is linked to a specific financial market and 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 on operating 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. The money you invest must not be linked to your primary needs.
Tips for success in online trading
Many traders do not succeed because they don’t have enough patience. Also, their emotions ay get in the way.
Entries and exits are crucial to trading. This means that you know how to catch the right moment to open a trading operation and exit in time with profits.
To be successful in trading, you need a passion for what you do. You are the only person who can find out whether 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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FAQs about online trading
The golden question is: To learn or not to learn?
You have to begin by understanding the language and learning the trading terminologies that traders and investors use. This will help you to make the best decisions so that your money begins to multiply. If you are interested in knowing more about this topic, please read my book, where I explain how this new online trading skill is gaining popularity among women and why you should venture into it. Below I explain some of the basic concepts.
1. What does ‘trader’ mean?
A trader is a person who is dedicated to buying and selling financial products 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 bank companies.
Note also that a trader is the opposite of an investor. The investor buys stocks and holds them for more than five years, while a trader will speculate on the financial market for less than one year.
2. How many hours a day do traders work?
This will depend on the type of trading into which you decide to venture. It can take minutes, hours, days, weeks, and months, depending on your personality. For example:
If you are goal oriented, you might focus on “scalping”. Scalping means that you trade several times daily. 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 other types of trading. I invite you to learn more about this topic in my book on page 184.
3. 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 lies in her or his skill, creativity, and passion for charts.
4. 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.
5. How do traders make money?
Traders and investors are only interested in 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. Why should you learn online trading?
The following are some of the reasons why you should consider learning this skill:
- Build your financial confidence: Getting knowledgeable in this field gives you the confidence to make crucial financial decisions for your future and that of 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 that nowadays, women have shown that they can be more and do more than just take care of the family home. Research shows that women are as capable as men of becoming great traders and leaders.
- Leave a legacy as a woman: Yes, that’s right. Creating the domino effect starts at home. It is the same as when you give love and attention to your kids and you give to society positive human beings. If a mother learns this skill of trading, she will most probably pass this knowledge on to her children. By doing so, you become a part of the community of female traders, closing the gap between men and women 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 bottom line
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. 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 easily and wisely as well. I believe in a balanced system where you can use the two powers that we have inside us — male and female energy.
If you enjoyed this article on Online Trading As A Woman- The Beginner’s 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.
