Africa is a prime illustration of the rise in popularity of forex trading. The continent itself is multicultural and active, with a bilingual culture, and it offers a plethora of the greatest spots for women to have a successful trading profession. Foreign currency or forex trading has generally been a male-dominated business, although some female traders have conquered the markets and overcome gender prejudice.
Women are often subtly steered towards sales-focused positions in the trading world, face casual or overt sexism, and are consistently undervalued despite the profits they generate, but statistical evidence collected by Warwick Business School shows that women traders outperform men by 1.8%, despite trading less.
So, despite the fact that women deal less than men, why do they appear to trade "better" or "smarter"? Women consistently outperform men in this sector, according to research, thanks to the following characteristics: being risk-averse, careful, and thoughtful.
Women flourish in Forex, and a recent survey found that 48.1 percent of female traders define themselves as trading at a professional level, compared to 45.5 percent of males. Professional or private trading provides a stable and reliable source of income for thousands of women not only in Africa but across the world, and these numbers emphasize the disparity between gender prejudice in trading and women reporting high levels of expertise.
A competent trader will be able to regulate their emotions and remain cool in every scenario, whether they are winning or losing.
According to Time Magazine, research undertaken by behavioral economists Terrence Odean and Brad Barber revealed that men trade more on average than female traders, while a recent study from early 2018 discovered that one out of every seven internet dealers is female. Female dealers are becoming increasingly common, according to these statistics. There are many female traders at the top of their game right now in the trading and investing sector; therefore, establishing a thorough list of the top 5 female traders in Africa is no simple assignment!
To be honest, forex trading is a high-risk industry in any country, including Africa, and not everyone will end up among the top forex traders in the world. While forex trading is not for everyone, everyone may achieve success in it. The success tales of African traders will guarantee traders of this.
Nelisiwe Masango
Nelisiwe Masango's tale is amazing. While still in college, her goals were to become a neurosurgeon, but she soon learned her true interest was economics and investing. When it came time to complete her education, she enrolled in entrepreneurial management, followed by learning how to trade. Masango has now become one of South Africa's most successful female forex traders.
Nelisiwe Masango founded three financial firms with the goal of increasing financial stability and knowledge among South African women.
Danielle Lester and Paballo Nkwe
These two ladies are ranked as one of the top five dealers, owing to the fact that they trade as a team. Danielle Lester and Paballo Nkwe are South Africa's best and most successful female Forex traders. The major goal of this team is to provide the younger generation in South Africa, as well as start-ups and organizations, with adequate Forex trading education and strong tools to trade effectively.
Danielle Lester and Paballo Nkwe co-founded iSelect Wealth, where they develop platforms and models using cutting-edge technology and financial intelligence. Danielle Lester and Paballo Nkwe also spend time touring universities to help women acquire financial intelligence, learn about forex trading, and make good investments.
Nobuhle Catherine Anajemba (Bosslady)
Nobuhle Catherine Anajemba is now Africa's richest forex woman, having a net worth of around R100 million as of 2018. Nobuhle Catherine Anajemba is trained and mentored in Forex, Binary Options, and cryptocurrencies through her online institutions. WIF also has subsidiaries that provide signal subscriptions to people who are currently trading but losing money.
Reabetswe Shongwe
Reabetswe Shongwe, who was born and raised in Botswana, is one of the most successful women in banking and entrepreneurship today. Reabetswe gained success in currency trading and entrepreneurship. Her success began when she chose to leave one of the largest retail conglomerates and join Women in Forex & Entrepreneurship, a section of Trade4africa.org.
As evidenced by her hard labor, Reabetswe leads and represents the W.I.F.E. division as a living testament, a born leader, a woman of power, and a regal queen.
In conclusion, the rise of internet trading platforms is paving the way for gender equality and gradually eroding the conventional male trader image. With this in mind, let us look at some of the world's most prominent female merchants who have pioneered the way for women in Africa and business as a whole.
Tracy Britt Cool
Tracy began her profession by farming fruits, vegetables, and flowers for her parent's business. Her talent was recognized when she worked at Berkshire Hathaway, where Warren Buffet was the CEO, and while she attended Harvard.
Abigail Johnson
In February 2014, Abigail Johnson, the organization's president and CEO, succeeded her father, Edward C. Johnson III, as chairman of Fidelity Investments. With more than $3.5 trillion in assets under administration and approximately $2.25 trillion in assets under management, the organization has a lengthy history.
Jennifer Fan
Jennifer earned degrees in finance, statistics, and operation research from business school. She began her career at Morgan Stanley before joining Arrowhawk Capital Management as a partner and portfolio manager. Jennifer, a fund manager who specializes in identifying relative value in the energy and agricultural industries, has established a $650 million hedge fund that she is expertly managing.
Linda Raschke
Early in the 1980s, Linda Raschke started working as a day trader for herself after spending six years each at the Pacific Coast Stock Exchange and the Philadelphia Stock Exchange.
Both of the organizations that hold her initials, LBR Group Incorporated as a commodities trading advisor and LBR Asset Management as a commodity pool operator, are led by Linda Raschke. Raschke devotes time to giving trade lectures for a variety of important institutions, such as the Managed Futures Association and Bloomberg. He also wrote a book on high-probability trading tactics, which has received considerable attention. Linda Raschke is a seasoned trader with a background in Wolfe Wave technical analysis.
One of Linda's trading rules is to have a plan that enables you to respond to market changes as they happen because you can't predict the future. Nobody has the slightest idea of what will happen in the future in the world of money, which is a realm molded by human behavior, according to Linda. Mark "Nobody" with a marker.
Raghee Horner
With a specialization in Forex, currency ETFs, and futures, Raghee Horner is a reputable contributor to John Carter's Simpler Trading. She is a great trader because of her zeal and a mix of technical knowledge and analyzes. When Raghee Horner first began trading in high school, she manually drew the charts and calculated each indication independently. The well-known 34 EMA wave technique was developed by Raghee. The Forex Factory has conducted several studies that contain a few uses of this strategy.
Trading is not a "one-way" endeavor. I employ what I employ, and I have faith in what I have faith in. -- Raghee Horner
Kathy Lien
Kathy Lien started working at Wall Street after earning her business degree from New York University's Stern School of Business. She spent 13 years in the financial markets, mostly concentrating on G20 currencies. She began her career at JPMorgan Chase, working on the Interbank FX trading desk and trading foreign exchange. Later, she moved on to the cross markets in the proprietary trading group, where she traded a wide range of instruments, including FX spot, options, interest rate derivatives, bonds, equities, and futures.
Later, Kathy joined FXCM, where she supervised a team of analysts as a female professional trader and chief strategist, offering research and analysis on foreign exchange markets while also contributing to the creation of DailyFX.com, a well-known global foreign currency research platform. In 2008, Kathy made a shift to Global Futures & Forex Ltd., where she served as the Director of Currency Research, oversaw a global team of analysts, and provided customers with research and insights. In addition, Kathy has written two books: "The Little Book of Currency Trading and Millionaire Traders: How Everyday People Beat Wall Street at its Own Game" and "Day Trading and Swing Trading in the Currency Market," both of which have achieved international bestseller status.
Lucy Baldwin
At Goldman Sachs and Bank of America Merrill Lynch, where she was in charge of trading European stocks, Lucy Baldwin obtained the highly sought-after position of Managing Director. She also managed to make it onto the Forbes "30 Under 30 in Finance" list for two years in a row. At the moment, Lucy Baldwin has a key position at Credit Suisse and is a pioneer in the equities trading industry.
Lucy offers advice to be emotionally intelligent and to have a high IQ when trading. These two components help traders develop their discipline, which is essential for trading success.
Lauren Simmons
At the age of 23, Lauren became the NYSE's sole full-time female stock trader, making her the youngest ever. While attending Kennesaw State University, she studied genetics. After moving to New York City, she met the CEO of Rosenblatt Securities and began her trading career. Lauren is now working on her debut book, which is about women and millennials in finance.
Lauren's trading advice is to be astute with money. Making informed decisions rather than relying on luck is necessary for market success.
Muriel Siebert
Muriel Siebert, the first woman to have a seat on the New York Stock Exchange, launched her own brokerage business in 1967 and ran the only brokerage firm on the exchange controlled by women. She was an activist for women's rights, a philanthropist, and a firm believer that, due to their complementary skills and perspectives, men and women should hold leadership roles in business and government.
Mary Callahan Erdoes
JP Morgan Asset & Wealth Management's Chief Executive Officer, Mary Callahan Erdoes, is in charge of managing more than $2.8 trillion in assets. Mary has been in her position for more than 10 years and worked her way up to it. She claims that a willingness to give up investing ideas that aren't doing well is one of the keys to success. Her organization has a reputation for shutting down underperforming funds and creating new ones. Mary Callahan Erdoes was listed as the 66th most powerful woman in the world in 2014 by Forbes Magazine.
Sallie Krawcheck
The creator of Ellevest, a website where women can get financial guidance, is Sallie Krawcheck. She has held a variety of prominent positions, including president of Bank of America's Global Wealth and Investment Management business, and is qualified to give guidance and assist women in achieving their career and financial objectives.
These are the top professional female traders to follow on social media:
Kristin Bentz
It is highly recommended to follow Kristin Bentz because she is a notable character in the field of trading. She may be found on Twitter under the handle @talentedBlonde, where she has around 11,000 followers. A former Wall Street trader, she currently trades, weighs in, and blogs on the most recent market movements.
Mella
Mella is a professional female trader who can be found on Twitter at @Mella_TA. When it comes to Twitter finance, Mella is one of the highlights, providing traders with fantastic charts, funny comments, and timely information about the trading sector.
Abigail Doolittle
You can follow Abigail Doolittle on Twitter at @TheChartress. As her handle on social media suggests, Doolittle is an expert in charts. Doolittle provides traders with the most recent information on 10-year Treasury rates as well as other market movements on Twitter. Doolittle's feed also includes a lot of motivational sayings that might boost traders' spirits when the market is down.
Lydia Idem Finkley
Finkley posts regular updates, particularly on the basic market factors, on Twitter under the handle @faithmight. Finkley is a well-known expert in foreign exchange who focuses on silver and currencies.
Cathy Curtis
Cathy Curtis is an RIA, CFP, and financial advisor who can be found on Twitter at @cathycurtis. She provides excellent advice for young women investors looking to rise in a traditionally male-dominated field, and her presence on social media has inspired many women to start investing.
Stephanie Link
Anyone who is interested in learning about Forex and other financial markets should follow Stephanie Link, since she is a wonderful resource for the most recent news updates and analysis. She is a well-known financial pundit who covers a variety of topics, including equities and economic statistics. For any crucial financial information, follow @Stephanie_Link on Twitter.
Kiana Danial
Kiana, @KianaDanial, is the CEO of Invest Diva, an online platform that teaches investment strategies for families. She is also the bestselling author of three books, including Invest Diva's Guide to Making Money in Forex.
Chioma Okezue
Chioma is a forex coach and the founder of the Financially Fit community. an online platform that teaches forex traders how to become profitable. Follow her social handle, @madamfinanciallyfit_fx She is known for her unique strategies.
Chantel Snyman
Chantel is a professional forex trader known for her educational tips and massive online presence. Follow her social handle, @tradewithchantel.
Ndukwe Happiness Chiemela
Happiness is a professional female trader and also a coach who owns an online trading academy. She can be found on Instagram at @hcnfxacademy. Happiness is one of the highlights, providing traders with fantastic trading tips.
Precious Madueke
Precious is a forex coach and the founder of the Presh Forex Academy. an online trading platform that teaches forex traders how to become profitable. Follow her social handle, @preshbae_forex.
Lamidi Sikira
Lamidi is a forex trader, a coach, and the founder of the Kira Forex Academy. an online trading platform that teaches forex traders how to become profitable. Follow her social handle, @kira_forex.
Angela Johanna Haimbodi
Angela is a forex trader and coach, who teaches forex traders how to become profitable. Follow her social handle, @angela_fibonacci.
In Conclusion
These women have demonstrated that successful trading is not solely the domain of men, and they are ushering in a new breed of female traders. In fact, according to a Citi study on the state of the retail foreign exchange market, the women involved in the industry are no longer just career women but also housewives who are taking an interest in it. Women now have many chances for job advancement and personal improvement, thanks to the rise of the internet trade sector.
More and more women thrive in the markets and open up the trade world for themselves. The most skilled women traders improve their abilities through consistent practice and strict discipline. Additionally, in order to understand what motivates their transactions and learn how to remove emotion from the equation, traders should regularly engage in honest self-analysis. Any forex trader should develop these skills. Key components are discipline, knowledge, and practice.
Frequently Asked Questions
Are women in Africa allowed to trade in Forex?
Yes, despite traditionally being a male-dominated environment, women in Africa have very successfully overcome gender bias and taken over the market.
Do female traders perform better than their male counterparts?
Despite trading less than men, according to data gathered by the Warwick Business School, women outperform men by 1.8%.
Why do women perform better than men in forex trading?
Being cautious, considerate, and risk-averse are qualities that contribute greatly.
What stereotypes do people have about female forex traders?
that women are poor mathematicians.
Women don't have enough time to conduct thorough research.
They see trading currencies as risky.
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