{"id":13647,"date":"2012-05-09T06:00:46","date_gmt":"2012-05-09T10:00:46","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=13647"},"modified":"2012-05-08T17:00:25","modified_gmt":"2012-05-08T21:00:25","slug":"are-women-better-traders-than-men","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2012\/05\/are-women-better-traders-than-men\/","title":{"rendered":"Are Women Better Traders than Men?"},"content":{"rendered":"

By: Chris Irvin, Veteran Instructor & Trader at The Wizard<\/a><\/p>\n

The answer may be yes.\u00a0 How do I know? My wife told me\u2026 that\u2019s how.\u00a0 Actually there is some scientific evidence that may back up this idea.\u00a0 Now keep in mind that I am about to explain something that is way above my pay grade, but I will do my best.\u00a0 The brain, in both men and women, is divided up in hemispheres typically known as the left brain and the right brain.\u00a0 The left brain is the side responsible for logical, sequential and rational thought.\u00a0 The right brain deals with random, intuitive and creative processes.\u00a0 There is no difference between the sexes in this regard.\u00a0 The difference between men and women comes in the link between the two sides.\u00a0 It is called the Corpus Collosum.\u00a0\u00a0 The Corpus Collosum is a thick band of nerves that connects the left and right brain. According to a number of studies, including one by L.S. Allen, MF Richey, YM Chai and RA Gorski, which was published in the December 14th<\/sup> 2011 issue of the Journal of Neurosciences, there are differences in this connection between the sexes.\u00a0 The study was called \u201cSex differences in the corpus callosum of the living human being.\u201d\u00a0 The researchers concluded this:<\/p>\n

\u2026subjective evaluation indicated that the posterior region of the corpus callosum, the splenium, was more bulbous shaped in females as a group and in women, and more tubular-shaped in males as a group and in men; mathematical evaluation confirmed this observation in that the maximum width of the splenium was significantly greater in women than in men\u2026<\/em><\/p>\n

If you glazed over for just a second, come back, there will be no more scholarly information.\u00a0 What does this mean?\u00a0 Well, if you consider that the corpus collosum acts as a bridge between logical and emotional thinking, research concludes that the bridge is a very narrow road for men and a six lane super highway for women.\u00a0 What does this have to do with trading you may be asking?\u00a0 Here we go\u2026<\/p>\n

I believe that every trade begins in the left (logical) side of the brain.\u00a0 We develop criteria and scan for stocks that meet that criteria.\u00a0 This would all be on the logical side of the brain.\u00a0 After we find a suitable candidate, we place the trade.\u00a0 Why do we make the trade?\u00a0 Because we are confident, based on our logical criteria, that this position will move in our favor and make us a wheelbarrow full of cash.\u00a0 Traders don\u2019t make trades unless they are confident they are going to be right \u2013 right? Upon placing the trade every trader runs, with their hypothetical empty wheelbarrow, across the bridge (corpus collosum) to the right (emotional) side of the brain to get a better view of the trade.\u00a0 From the emotional side of our brains we hope like heck this trade works out.\u00a0 Here is where things get a little dicey for the male chauvinists.\u00a0 Because the bridge between logical and emotional is very narrow for a guy who is trading, it is sometimes hard run back to the logical side to continue evaluating the trade on the original criteria.\u00a0 Instead, the guy stands on the emotional side hoping that his trade works out even if it is falling apart before his eyes.\u00a0 He might hear himself say things like \u201cIt will come back!\u00a0 It\u2019s only down 80%.\u201d\u00a0 This is called Ego.\u00a0 In my opinion, the male ego is a result of the corpus collosum being a one way street in a dude\u2019s brain.\u00a0 See ladies, it is not our fault when we have big egos \u2013 we can\u2019t help it.<\/p>\n

How does a broad corpus collosum benefit the female trader?\u00a0 Women have the ability to freely travel from the logical side of their brains to the emotional side. (By the way, this is the same reason that men think women are crazy sometimes.)\u00a0 From a trading perspective, female traders can use logical criteria to evaluate trading candidates, just like male traders.\u00a0 They place the trade based on that logical criteria, just like their male counterparts.\u00a0 They run across the bridge with the same wheelbarrow to watch the trade from the emotional side just like male traders.\u00a0 The difference is this \u2013 if the trade begins to \u201cfeel\u201d like it is not working out, the ladies have the ability to run back to the logical side to view the original criteria again and determine if they should stay in or get out.\u00a0 Unfortunately, given the same situation, the male trader would just sit in his wheelbarrow watching the trade fall apart.\u00a0 Again ladies, you should actually feel sorry for the guys \u2013 we can\u2019t help ourselves.<\/p>\n

Gentlemen, here the good news\u2026there is hope!\u00a0 Our hope lies in the form of a stop loss.\u00a0 I know, I know, we all know that a stop loss is designed to take you out of a trade automatically if it goes against you.\u00a0 But many traders think that stop losses are a sign of weakness (the guys might grunt in unison at this point.).\u00a0\u00a0 There are some guys, although they would never say this out loud, think that placing a stop loss on a trade contradicts why they got in the trade in the first place.\u00a0 \u201cIf I am willing to place my hard earned cash into this trade, it is because I KNOW that it will work out.\u201d\u00a0 \u201cIf I place a stop loss, I am admitting that I could be WRONG.\u201d\u00a0 Ladies, this type of struggle can make a guy\u2019s head explode!\u00a0 The man\u2019s ego steps in at this point and says \u2013 \u201cYou know the trade is going to work out, otherwise you would not have made it \u2013 right?\u201d\u00a0 \u201cIf that is the case, you don\u2019t need a stop loss\u2026do you?\u201d\u00a0 \u201cOf course not,\u201d says the man sitting in his wheelbarrow.<\/p>\n

Gentlemen, here is what we have to start doing.\u00a0 We have to see the single act of placing a trade as both pressing the trade button and<\/em> placing the stop loss.\u00a0\u00a0 Consider that you have not totally finished the act of entering a trade until you have put in an auto exit, knowing you may not make it back to the logical side of the trade once it has been placed.\u00a0 At The Wizard<\/a> , where I am a senior instructor, not only does the software projects a potential entry price, but it also gives the trader a specific price point where the stop loss should be place.\u00a0 This is an unbelievably important feature.<\/p>\n

\"\"<\/p>\n

(CAH, CAR, and DUK are not recommendations.\u00a0 They are being used to demonstrate the stop loss feature in The Wizard.)<\/p>\n

So guys, use the logical side of your brain to find a stop loss position, and put it in place before pushing your wheelbarrow across the bridge.\u00a0 Trading is much less stressful when our egos are taken out of the equation. \u00a0Whether you use a scanning tool like The Wizard<\/a>, or you\u2019re trading on your own criteria, you will become a more successful trader if you keep your losses small, and let your winners run.\u00a0 Using stop losses will help to keep the losses small.<\/p>\n

Regard,<\/p>\n

Chris Irvin<\/p>\n

\u00a0The Wizard<\/a><\/p>\n

Try The Wizard\u2019s Market Trend Indicator<\/a> for free. Click here<\/a> and sign-up in the upper right-hand corner of the web site<\/p>\n","protected":false},"excerpt":{"rendered":"

By: Chris Irvin, Veteran Instructor & Trader at The Wizard The answer may be yes.\u00a0 How do I know? My wife told me\u2026 that\u2019s how.\u00a0 Actually there is some scientific evidence that may back up this idea.\u00a0 Now keep in mind that I am about to explain something that is way above my pay grade, […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4336,4166,7948,4108,4279,4335],"class_list":["post-13647","post","type-post","status-publish","format-standard","hentry","category-general","tag-better-than-men","tag-chris-irvin","tag-guest-bloggers","tag-the-wizard","tag-tips-and-tricks","tag-women-traders"],"yoast_head":"\nAre Women Better Traders than Men? - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2012\/05\/are-women-better-traders-than-men\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Women Better Traders than Men? - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"By: Chris Irvin, Veteran Instructor & Trader at The Wizard The answer may be yes.\u00a0 How do I know? 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