Racing News Blog

25/11/21

Horses for courses

 

Monitoring your performance in trading is important, recording your trades, analysing your results and working on which areas can be improved. I do the same with my trading but also with my mentoring in Hunting for Profit. We are over four years in as a trading community, and it’s great to hear about more new success stories this year, adding to previous successes from previous years.

I have always tried to find a balance between promoting Hunting for Profit with “look at me” screen shots versus actually explaining what we are about, detailing my approach towards teaching and ultimately mentoring traders to the end goal of making consistent profits from trading with Betfair in the in-play horse racing markets.

It’s important to back up the education with genuine success stories and we have had some more members recently making great strides including a couple becoming consistently profitable, adding to a hardcore of existing profitable members in the group.  

One member who has turned their results around this year sent me their best days P&L recently, which you can see above. They have been hitting profits of £300 on some days and they have come a long way, but it has not always been like that for them. They have had some blips along the way, their ego has at times got the better of them, also their execution has been poor at times but they have worked hard to correct this. They also struggled with having the correct mindset but through hard work this has improved greatly and so I’d like to congratulate them for persevering with the system and methods that I teach.

They have asked me for advice when things have become difficult, absorbing all of the information from myself and experienced members in the group and eventually things have started to really click into place. They also understand variance, why and when poor days come along so they can protect their bank and when the good days come along, they can make the most of those first class opportunities.

I take far more satisfaction from seeing things like these than I do from my own trading results. Don’t get me wrong, on a personal note, cracking trading has been the toughest thing I have ever done but it is so encouraging when another member lands in long term profit, it also shows the education I give, works well.

Below is another member’s recent results over a 7 day period, this member is a competent trader,  but of course they can still make further improvements with their execution, as we all can. But it is their mindset that has been holding them back more than anything. So I have been working alongside them to improve this. They know how to trade and to execute. Unfortunately they make money for a few days then give it back for different reasons, so we have talked through this area of their mindset and now finally they are making good progress once again.

But our feet must stay firmly on the ground. Yesterday’s results are yesterday’s news, these results are great but you can’t rest on your laurels, you have to learn to understand why the market is not as good the next day, why you need to hit the really good markets and hold back on the poor ones. This member has been going around in circles but I do believe they will press on now. 7 days is nothing in trading, they know this now, the mindset is getting there, they are close to hitting that long profitable run and then it is just a case of rinse and repeat.

 

 

Whilst every profitable member of Hunting For Profit that I know might be slightly different in personality, e.g. some knew little about racing and trading before joining us, others were racing enthusiasts before joining, they all have one similar trait in common in that they completely bought into the service. They completed the course and they have stayed in the academy, approaching it as a long term apprenticeship, applying themselves correctly without any ego as I guide them along the way to, knuckling down, working hard and listening to the advice I give on a daily basis. They have absorbed the information by going over it, again and again.

They have looked at it with a long term view, having this approach, treating trading like real educational study, an apprenticeship. Having this approach gives you the best possible chance of success and Hunting for Profit gives people an enormous short cut to the in-play markets that I unfortunately never received.

Some have needed to talk to me on a 1-2-1 basis for chats every so often, either via text or video to get them back on track when they have struggled with something, others have needed help on the execution side of things so have sent me videos of their trades for me to critique. Some just crack on with it with all the tools in the group that they need, but what they have all done is put in the hour and hours of necessary screen time watching markets, which is vitally important and then learning from their mistakes.

So, although they might have needed help in different areas their initial belief in what they were doing and ultimately, buying into the process, has been vital. This is important because when things are not going right you will question things and if you do not believe in the process you are less likely to find success. You really do have to be willing to put the graft in so you can navigate through the many obstacles to eventually find success and that trait has been present in spades in every single profitable member.

I have helped people become consistently profitable from all walks of life, different ages, different experiences, different levels of knowledge of trading and racing prior to joining. So, if you are inexperienced don’t let that put you off. Your attitude towards learning with a long term professional approach is more important to me, I can give you the tools that you need to succeed. You must be prepared to absorb all of the information and put the hours in so as to give you the best chance of achieving real success at this.

As 2022 approaches and Hunting for Profit looks to enter its Fifth year I have been making plans for the next year. Over the past three years I have been offering courses in person in Doncaster in a hotel conference room, I added in the opportunity to attend the course online via Zoom since the summer of 2020.

Next year, I am running one course online in February of which I still have 6 places left and then I am planning on taking the courses on the road over the spring and summer months in the UK and Ireland . So, if you would like to attend one of these courses, get in touch with me via the website and let me know where you are based in the UK or Ireland, I will then add you to the waiting lists.

Check out previous success story blog posts in the two links below:

Check out our courses links below:

Good luck & stay green

Matt