CFD trading 'no longer only a man's world'
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Contract for difference (CFD) trading has roots tracing back to the 1990s and traditionally, it was a predominantly male endeavour. However, things are changing, it has been claimed.
According to Alistair McCaig, senior trader at WorldSpreads, while women used to be under-represented in the world of financial spread betting and CFD trading, their numbers have been steadily rising over recent years, the Financial Times reports.
He stated: "Online trading platforms have reduced the barriers to entry into financial spread betting and this has meant that one of the fastest growing areas in this [field] is that of the female client."
The expert went on to state: "With online trading there is no 'old boy's network' to worry about and female clients do not need to worry about prejudice."
Concurring with this sentiment, chief technical analyst at City Index Sandy Jadeja claimed there are "no gender barriers", adding: "Just over 12 years ago, the attendees at our seminars were 100 per cent male. Now that has dropped to about 70 per cent."
Meanwhile, managing director at IG Index Tim Hughes claimed that there are certain traits that may help women enjoy greater success when engaging in CFD trading and spread betting.
He remarked: "It is recognised that successful trading is as much about psychology as inspired stock picking ... There is a school of thought that the female psyche is better disposed to accept being wrong, realise small losses and move on. Ultimately, this behaviour is crucial to successful trading."
And he is not alone in this belief. Market analyst at CMC Markets James Hughes suggested that female traders are better at "extracting the emotional side of trading" from their decision making processes. This means they are more able to walk away from losses, rather than continue trying to "squeeze every pip out of a trade". |
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By :
Tom Jui
Submitted
2011-11-03 10:45:02 |
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