The term Mother most certainly throws up an image of a loving and caring stay-at-home woman, discharging household activities and taking care of her beloved children. However, this image of the conventional mother underwent change, to some extent, in recent times, and a relatively new term Working Mother was coined to describe a mother who has managed to emerge a winner on both sides of the coin of life, namely profession and home, like a real superhero; I would rather call her a superwoman .
Yet, some women have taken the femininity baton to the next level, by emerging as successful traders in an otherwise male-dominated trading industry. This scenario would have seemed almost impossible a few years ago, but times have changed, and women, both working and stay-at-home, are opening their arms and minds to the world of stocks. They are not just willing to take the plunge but are also keen to learn the tricks of the trade, to be conceptually strong, before entering the business of trading.
Woman – Thou are Naturally Wired
A home-bound mother who spends her entire life dedicated to the wellbeing of her family, finds very little time to pursue a career of her interest or generate extra income to splurge on her aspirational lifestyle needs. She possesses the natural ability to manage funds and take calculated risks, by way of controlling the monthly household budget within the set limits. Women, thus, are naturally wired to enter a profession like trading, than men. Trading can certainly prove to be the vista to her freedom, vista to her independence.
Dual benefit of Convenience & Flexibility
Technology and a dynamic work environment have empowered many people to operate from remote locations, work with flexible timings and allowed small business entrepreneurs to work from the comforts of their home. This revolution has brought about a great opportunity for mothers wanting to dedicate a greater number of hours to their children and their family. Online trading gives them the much needed cushion of time and flexibility and the convenience of working from anywhere. Trading has evolved over the years and trading platforms have become smarter and more convenient. It is one business where the owner can decide his/her capital investment and is able to control losses.
Be Informed, Get Educated
Mothers can opt for Day trading or Position trading, based on their risk appetite, amount of time they can dedicate to trading and their level of trading expertise. However, one word of caution is that before treading this path, they should be well informed about the benefits, risks and downfalls. I would strongly encourage them to learn professional trading from a reputable institute after checking on the credibility of the trainers, before choosing to be a trader, else, they would be merely trying their luck.
Science, not a Gamble
The general perception of people outside the gamut of trading or of those who burnt their fingers by venturing into it without learning the ropes, is that, it is a gamble and one s profits or losses are purely determined by the strength of their luck. However, that is not the case at all. Trading, like any other profession, has a science to it and those who follow the method to this apparent madness have been known to build wealth by making it their full-time job. Trading requires extensive planning, effective strategy and determined goal setting. One has to be well read, self-aware about the market and also be educated in order to read the charts to decide when to buy or sell or where to set the stop loss. Mothers can start out by enrolling themselves to some of the unpaid trading workshops to learn the basics of stock market and trading.
It is the best time for mothers to consider trading as an alternate career option, due to the ease in accessibility of educational platforms today both online and offline, as also for the convenience offered by technology that makes it possible for them to do justice to their family and their career aspirations, as capable individuals.
(By Hitesh Chotalia, Head of Education at Finlearn Academy)