How to harness your potential in the world of Forex
Typically a male-dominated world, the arena of investment, trading, stocks and shares is increasingly including female talent.
Women are a wise advantage to have in investment fields, as reported by the Financial Times, who quoted new research showing that female-led companies generate up to 10% more revenue than their male equivalents.
As the world of business starts to open up to inspirational women, there has seldom been a better time to get involved – and there are few easier ways than through Forex.
Establishing yourself in the world of Forex
Forex is a fiercely competitive market, but it can be incredibly rewarding. The first step for any would-be trader is to understand what a good broker is, and to get set up with one.
Most modern traders will make their moves through brokers, and having good Forex account managers will enable you to make trades with confidence.
With technical know-how and a broker in place, the next – and potentially most crucial step – is to ensure you have the right attitude. As outlined in The London Evening Standard by one of the first female Forex brokers, having a steely attitude and determination is key to getting ahead on trades.
You need to be flexible
The foreign currency markets are volatile in as much as they relate to current world events. With every change in Brexit news, or new development in the USA, Forex will shift. And you need to be primed to deal with this.
Being curious but unbiased is key – consume news from across the spectrum of respected sources, and make a balanced assessment as to how the day’s news will progress.
Typically, instability will cause Forex prices to drop and fluctuate more; whereas signs of stability or big economic growth will create a boost in any given currency.
Make the most of technology
Financial services today are being overhauled by technology, and Forex is no different.
As reported by Reuters, start ups are creating huge waves of disruption to the established institutions in Forex trading – typically big banks. Reuters report that just seven companies handle 74% of transactions in the London Forex exchange – the biggest in the world.
By offering new routes for traders to get online and get trading, start-ups are chipping away at this dominance. And here lies an opportunity for female investors looking to make their own stamp on the industry.
Instead of going towards one of the big institutions, it’s worth getting involved with a smaller start-up and lending your expertise and nous. This way you, can become part of a bigger wave, and potentially have your name written in the annals of history as one of the inspirational women in the history of Forex trading.
Forex can yield impressive results
Forex trading is notoriously volatile, but can yield huge, impressive results for those with the right head on their shoulders. Trading is a switched-on challenge, but women are well suited to embrace it – especially as we’ve been shown to deliver better results for trading outfits.
Photo by Artem Beliaikin