In fact, there are five reasons why your wife or girlfriend may be a better investor than you:
- Awareness : Women are generally more comfortable going through the process of gaining self-awareness than men. And self-awareness is critical to successful trading.
- Ego : Typically, women get far less wrapped up in the “I/Me” involved in the decision-making process. Remember, trading is about making money, not being right.
Strategy : Men react, while women tend to reflect. It’s reacting that leads to impulsive trading and sloppy mistakes. Reflection, on the other hand, leads to game plans and process.
Growth : Women are often more comfortable going outside themselves to find information. They have a growth mindset and are more open to learning from their mistakes.
Stability : Let’s face it, men are driven by greed, while women are more likely to be driven by comfort and stability. [CreateWealth8888: Greed can kill. Know the Concept of Enough. Know when to take regular profit to trade off for comfort and stability rather than aiming for home run by holding till the next sunset]
Guys, are you making money in the market? If not, consider handing over this task to your wife, she may better at it. Alternatively, seriously think over the five pointers.