If you’re a guy don’t be offended by this. As a long time ETF Trend Trading advocate I have usually found this to be surprisingly true.
First, women tend to admit they’re wrong quicker and easier than men do. Confronted with the same losses men will tend to point to their fund managers incompetence or economic irregularities before they admit to their own mistakes. Women generally speaking aren’t typically like that.
Again, I know I haven’t met your wife or girlfriend. But I’m speaking in general terms here.
Nonetheless, just understand that if you don’t admit when you’re wrong and the trade is working against you, then you’re tempted to move your stop…and doing so will absolutely blow up your account.
Second, women learn better than men. They’re more teachable especially with regards to new tasks. My wife can learn a lot of stuff faster than I can. Now I realize that we all have or own unique strengths but the point is we all need to be teachable at trading especially when it comes to learning a trading system, money managing skills, position sizing, patience, etc.
If you don’t LEARN how to fix a recurring problem you will frequently make that same mistake that costs you money.
The final quality that makes women better trades: Pride or the lack thereof. Do you have pride in your trading or do you think you’re a stock marketing god? “Well, I never!”, I hear you say. Yet when you have a hot winning streak does pride often cause you to start doubling your trades.
Conversely, an account busting losing streak happens and you react accordingly. Sure, you may have followed every technical consideration that your trend system calls for and completed the trade exactly to spec. Only to discover it still goes against you.
Listen, that’s trading!
You don’t win 100% of your trades, nobody does. Be patient and follow the system all over again.
If you do everything right and things turn South… Swallow your pride, let the trade hit your risk stop and so, you might lose your 1 or 2%. It happens but don’t blame a solid, technical ETF trend trading system. Follow it and reserve your judgments after a long series of trades.
Having said that, I’m not exhorting all us men to trade like women, obviously not. Not the point here. The point is simply, that YOU need to begin thinking like a real trader. You know the ones that are wildly profitable. All profitable technical traders are machine-like when it comes to following a profitable system. Don’t just believe this, Do this!
As a word to the wise you can check out this ETF Trend Trading review and get this free ETF newsletter that delivers a strategy on how you can start averaging returns of 5.7% a month in less than 5-10 minutes per night.
Tags: better trades, first women, position sizing, technical consideration, trading secrets, trend system, trend trading