Why is trading still so heavily dominated by men?

I've been thinking about this for a while. All of the trading subreddits, crypto Discord, or FX channels are like 80% men. So what's actually going on here? A few theories I keep coming back to:

Risk appetite. On average, men tend to take bigger financial risks and women tend to be more cautious. How much of that is biology vs. how we're raised is genuinely debatable, but the pattern shows up over and over in the research. Trading rewards (and punishes) risk-taking, so it self-selects.

Overconfidence. There's a famous study ("Boys Will Be Boys," Barber & Odean) that found men trade way more frequently than women and that overtrading actually hurt their returns. So "dominated by men" doesn't mean "men are better at it."

Culture. If you're a woman peeking in for the first time, it doesn't exactly scream "you belong here." Culture is self-reinforcing so the more male it looks, the more it stays that way. You've seen the rolex/lambo ig aesthetic.

Money + confidence gaps. The pay gap means less disposable "gamble money" on average. And surveys consistently show women rate their own financial knowledge lower even when it's actually the same. Less perceived expertise → less willingness to jump in.

Worth noting it IS shifting. Younger investors and Gen Z especially are way more balanced, and crypto adoption among women has climbed fast in the last few years. So this might be more of a current snapshot than a future prediction.

Curious what people here think. am I missing something obvious? Is it mostly culture, mostly risk tolerance, or something else entirely?

TL;DR: Probably a mix of risk appetite, overconfidence, a very male focused culture, and money/confidence gaps. but the gap is shrinking!!