Over the weekend, I encountered two pieces that in my mind are delightful evidence that women can find success at forex trading. In fact they answer three questions that are often brought up during our forex seminars:
- Can retail traders make money through forex trading?
- Does technical analysis work?
- Can women trade at all?
To anyone who is not convinced yet, give it a thought (especially after the video) and follow me on Twitter to look at some of our daily encounter with the forex market.
Japanese women find income and freedom from forex trading
Housewife investors were a feature of the Japanese financial landscape during the prolonged recession of the 1990s. Marooned at home because of the lack of career opportunities in a male-dominated business world, lacking child-care support and penalized by a tax system that didn’t encourage their participation in the labor force, many Japanese women found that they could bolster tight budgets by performing online forex trades in between chores and shopping for groceries.
They became such a force that the market gave them a name: Mrs. Watanabe (in Japan, Watanabe is a common surname, the equivalent of Garcia, Jones or Wang). And now they have returned, only this time they’re younger and more aggressive. Perhaps Ms. Watanabe would be a more accurate title now.
This is Etsuko Someya – married for 8 years with a young child. But in forex markets, she’s known as Mrs. Watanabe – one of hundred of thousands retail investors in Japan trading currencies. Many of them are housewives, and they are sophisticated — using technical analysis just like professionals do.
Etusuko herself earns 12 thousand US dollars a month from trading. “I will fix a time and will trade only within that timeframe. The other times I will spend doing my chores and playing with my son.”
Some of these Mrs. Watanabes have become so famous that they’re regarded as celebrities by the Japanese public. And for many, the current crisis provides a way to boost positions in high-yielding currencies.” Meet ‘Kimono Trader’ Yukiko Ikebe: A mother of three and an investor with 40 years of experience. She’s concealing her face because she fears for her life – having made what she says is millions of dollars trading currencies.
Japanese women not the only ones: meet our own Ms/Mrs Watanabes
Here at TerraSeeds Market Technician, we are proud to report a similar trend among Singaporean women: they make up nearly 40% of our forex trading community. In addition, we are convinced that female traders here are also driven by family, income-sufficiency, self-achievement and freedom, the same reasons that drive Japanese women to trade.
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