Both the Wall Street Journal and ABC News ran stories today on the latest census figures showing that women now account for a third of the nation’s lawyers and doctors. As recently as only 25 years ago, those professions were occupied almost exclusively by men.
Doctor and lawyers, but no mention of traders? Why is it that every time I go to a gathering of self-directed traders and investors the majority of the room is comprised of men? I recently spoke at the Traders Expo in Las Vegas and out of the 30+ speakers, only three of us were women. I picked up three new coaching clients from the show and all three of them are men.
I was giving an interview at the show and noticed a man watching me. He had looked at the schedule and knew that I would be in that location at that particular time. He had read my bio and learned that I had worked for an options market maker during the summer of 1989. After I was finished, we chatted and he told me he was in charge for recruitment for a Chicago market maker. He asked me for help in recruiting women to his firm as he truly believed that women make better traders than men. He didn’t understand why women were not attracted to the field.
The ABC article referenced above indicated that despite the progress of women, an income gap still exists. In 2007 the median income for a female lawyer was $90,000 compare to $122,000 for men. The median income for a female doctor was $112,000 compared to $187,000 for male doctors.
Women interested in trading as their profession don’t have to worry about income disparity. The computer is blind to one’s gender.
Laurie Itkin is Founder of The Options Lady, a mentoring business launched to inspire, educate and empower women to become successful self-directed traders and investors. Laurie teaches women how to trade covered calls, an options strategy that is less risky than “buying and holding” stock and also generates monthly income. For clients who don’t have the time or inclination to manage their own accounts, they can be professionally managed by Coastwise Capital Group, a boutique investment advisor specializing in options strategies to reduce risk and generate income in clients’ portfolios.