Traditionally, day trading has been a male-dominated field. But take it from these four women in day trading — that’s changing now.
2020 has been a huge year for trading. Earlier this year, we experienced the ‘wildest 100 days in stock market history.’ More new traders have entered the market than ever before — and many of them are women.
In today’s episode of the SteadyTrade podcast, co-host Kim Ann Curtin is leading a round-table discussion with four up-and-coming women traders.
These women may come from very different walks of life, but they are united by a common passion for day trading. Learn from their stories and trading journeys — prepare to be inspired by these bold, brave, and savvy women in day trading.
Four Women in Day Trading
For today’s episode, Kim gathered four women traders who are at varying stages of their day trading careers — from the studying phase to newly profitable.
Here’s who’s in attendance:
You may remember Tessa from Ep. 154: Eat, Sleep, Trade, Repeat with Single Mom and Newbie Trader Tessa Lamping. She’s a relatively new trader who’s learning the ropes while raising a two-year-old son.
At the time of our last interview, she’d just started a live account. As she reports, after a few red months, she’s “five months green” now — and excited to see what the future holds.
Connect With Tessa:
When Michelle wanted to generate faster account growth than her retirement accounts could offer, she turned to day trading.
While Michelle has been in Tim Sykes’ Trading Challenge since 2018, her full-time retail manager job kept her from studying as much as she’s like. But in November 2019 she was able to quit her job and study more — and now she’s hooked.
She’s had ‘good days and bad days’ since opening a live account in February 2020, but she’s continuing to improve every day.
At the age of 16 or so, Emily joined her parents in attending a class with businessman Dave Ramsey. It opened her eyes to “all the things you don’t learn in school” like compound interest and developing wealth.
She knew financial literacy could help her attain financial and geographical freedom. When she discovered Tim Sykes, she felt that his day trading strategy could be the right direction for her.
Both she and her boyfriend recently joined the Tim Sykes Trading Challenge and continue to learn and improve as they go.
Connect With Emily:
While Brandy’s interest in the stock market was piqued during high school, it lay dormant for years as she pursued different career paths.
But when her job was affected by the pandemic, she decided to circle back to day trading. She started studying with Tim Sykes in May of 2020. Right now, she’s still very much in the learning phase. Her biggest struggle right now? Bag holding: “once I marry a stock, I’m committed.”
Women in Day Trading: What’s Holding You Back?
The male-dominated world of the market can be intimidating for women in day trading. But today’s guests have broken that barrier. Kim wants to know: what’s their advice to other women who might want to step into this world?
Plant Seeds and See What Grows
Since Tessa appeared on the SteadyTrade podcast a few months ago, a lot of young mothers interested in day trading have reached out to her.
They want to know: how are you able to trade while raising a toddler?
It’s not always easy, admits Tessa. For instance, when her son jumps in her lap during a trade, she sometimes has to exit her position. She knows she won’t be able to concentrate on the trade.
Nonetheless, Tessa notes that it’s important to stick with it. You’re planting seeds now that can continue to grow as your kids do.
That means even if you don’t have a lot of time for trading now, developing the skills will serve you as your kids become more independent and you have more time.
Invest in Your Education
Michelle shares, “I’ve always been a big fan of investing in your education.” If you believe in something, you’ve got to invest time and energy.
“Doctors aren’t doctors overnight,” she says. Trading can be an intimidating world for some women, but if you take the time to invest in your education, you’ll be able to develop the confidence and skills to make great things happen.
Make It Happen
For a lot of women, trading is like uncharted territory. As Emily shares, at times like these, you’ve got to “carve your own path.”
She acknowledges that women may approach money differently from men, but that’s OK. In fact, it might even be a good thing in the long run.
She shares that by continuing to increase your trading know-how, you’re developing skills that will never “go away.” It’s like a solid foundation for continued growth.
Just Do It
Brandy’s a fan of getting down to business. For women who may be hesitant to jump into trading, she advises, “Take the plunge and absorb the wonderful amount of support that the women in trading offer because it is phenomenal.”
Women in Day Trading: ‘Aha’ Moments and Milestones
We’ve talked about ‘aha’ moments on the podcast before. In today’s episode, Kim asks the women traders about theirs. Learn about some of their biggest epiphanies, including:
- Knowing when to adapt. Tessa shares how she originally started trading morning panics, but when her strategy wasn’t working anymore, she had to change it up.
Learn how she got inspired by trader Jack Kellogg to try different patterns, and how it revolutionized her trading.
- Get laser-focused. While it can be tempting to try out any and every trading technique, it scatters your attention too much to truly find consistency in trading. These women in day trading talk about the eye-opening benefits of focusing on one thing at a time.
- Getting real with the basics. All of the women featured in today’s episode have this in common: they’re extremely dedicated to learning. They share the importance of staying humble and always going back to basic trading rules like cutting losses quickly.
- Keep records! Brandy shares how early in her trading journey she didn’t see the benefit in saving charts — she figured she’d remember the important stuff. Nope! After consulting with SteadyTrade host Stephen Johnson, who’s been extremely diligent about tracking data in recent months, she had a turnaround. Tune in to learn about it!
Routines, Community, and Staying Motivated
These women in day trading from this episode come from very different backgrounds. They’re all from different places, came to trading with different motivations, and lead different lives.
Yet they’ve found common ground with trading.
To round out the episode, they share the trading routines that keep them grounded, how they approach each trading day, and how they support each other to keep trading another day. Listen and learn!
We hope you’re inspired by these go-getter women who are killing it in trading.
Did you learn anything new in the episode? Do you have any questions? Please reach out.
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Kim Ann Curtin