Orbex talks to Solvej Rendtorff, a Director of Effex Capital about being a successful woman in the business.
- How did you start your career in forex industry?
I started my career back in 2000, where I was hired as part-time kitchen help. I quickly became interested in the financial business and moved to IT and later FX sales.
- What obstacles did you face when starting out in financial trading and how did you overcome them?
Well, I didn’t face many obstacles – I have been lucky to be trained and mentored throughout my career.
- Why do you think there are very few women in financial trading?
It’s historically been a very male-dominated industry and it takes time to change office culture and overcome the perception of women in business. As the trading floor back in the day was full of testosterone in a stressful environment, the language was usually foul and women took offence with language and behavior like that. Client meetings were often arranged in areas, where women couldn’t/wouldn’t/shouldn’t join…
Things are changing though and the attitude is getting more professional.
- In your opinion, what makes women successful in trading?
Study and understand the market (not only women)! Know your risk limits and tolerance. Understand what happens, pre and post trade execution – there’s more to it than ‘click and buy/sell’
- What advice would you give to women who are looking to get into financial trading?
Get a mentor – old school traders are different species than today’s traders. You can learn a lot from both sides.
Ask questions! Absorb information, take notes
Always double check
Have confidence
Don’t get easily offended
- Women are known to be better risk managers, how important was risk management in your success?
Very important. It’s make or break in this industry
It’s a risky industry
- What is the future for women in finance? Is the number likely to be steady, on the rise or falling?
Like any other business, women looking in to their career choices and I believe the number of professional women will continue to rise
- What has changed since you started your career in investment?
It’s basically a completely different industry I started working in 15 years ago.
Main thing I guess is the electronic trading – algo’s, platforms, automated trading, social trading etc. market participants and offerings have grown significantly.
Retail traders are being much more sophisticated.
And of course the regulations have changed dramatically.
- How did your career influence you and your personal life?
I got the opportunity for living and working overseas.
I’m very career focused and love the business.