Racing News Blog

13/11/22

Maturing as a trader

Seeing traders mature over time and make consistent profit is the best part of mentoring, I know the dark depths they have been to turn their results out and grind out consistent profits on regular basis. 

I have talked about the “trading jigsaw” in previous blog posts but it is so true you need every part of the jigsaw to profit from this. To drive a car you need fuel, oil and water. In trading you need that correct mindset and edge. You can have the strongest mindset in the world but without an actual edge in the market you will just have random results that over the long term won’t be profitable. You might have an edge in the market but without the correct mindset applied to your trading every single time you press that mouse then you will not make money from the market long term. 

The screen shot above is from a long term member who messaged me how they are chuffed their trading year has been going, I joked with them to post it on twitter and their reply was “I don’t really want to but you can use it if you want” I love their response, no ego there at all. They just wanted to report into me how they are getting on nothing else. I know they have struggled at times, gone around in circles dealing with altering their mindset to work so much so they refuse now to let anything affect their ego, one post on social media of a winning P&L and even the slightest bit of an ego trip they could take that into the next market and have their pants pulled down and then the cycle continues. 

I get it, I really do and 99% of profitable traders will get it too, your ego really is your enemy. Rewiring that brain to a traders mindset can be a difficult task for many, it is not easy but it can be done. We are all different too so telling someone to stay disciplined and be patient is not enough, you are just scratching at the surface. You need to dig a bit deeper into your mindset, work on your strengths and weaknesses. 

At Hunting for Profit members get that from a full course and academy library of videos and guidance covering in detail both a winning mindset and an edge that works long term. It is then down to the individual to put the hard work into practice by studying the videos, listening to the guidance and then applying it at the correct time in the market.

Some will come to me for help 1-2-1 be it a chat, they might have hit a brick wall with the mental side of trading and so just want to get it off their chest, reset and make a plan going forward. They might need detailed guidance on a specific trade, so going through the execution of their trade breaking down into detail where things went right and wrong. These issues can be entwined too which is no wonder many struggle to end up in profit, these issues need ironing out and worked on and at Hunting for Profit we have everything in place to support students with this. 

If you seek a mentor or not it is important to be brutally honest with yourself. If you can’t look in the mirror and work on your mistakes then what is the point? It is a sign of madness doing the same thing over and over again. 

You need to be prepared to go to the trenches and rewire that mindset whilst learning an edge. below is another screen shot from another long term member, they know how to trade, they have an edge however every so often they kept blowing up and let bad habits creep back into their game. They would place a random trade outside of their trading rules that would then lose big and undo all the good work they had done in the days before and so giving back all of their profits. We have had several chats about it over several months and they have worked so hard to iron out this from their game and slowly but surely it is starting to work but this didn’t happen over night, you need to allow time to alter bad habits and losing methods you bring into your present trading from the past.

So understanding trading, building that knowledge and correct mindset takes time. You need to treat it like an apprenticeship, put the study in, be aware of where you are on your journey, work on that rewiring of the brain and work on your edge. Then in time it all clicks into place, then the profit rolls in.

Hunting for Profit will be going into it’s 6th year next year, people have come and gone over that time, some however have stayed with us from practically day one. Roughly 30% have been with us the five years and there are many that have been with us two, three and four years. Not many long termers leave the group now, the odd person leaves mainly due to personal circumstances. We have a very settled group, there is a real maturity in the group now which is so good to see and it is kind of where I wanted it to end up. Whilst I don’t expect everyone to agree on everything I wanted the group to blossom into experienced traders all pulling in the same direction which it has done. Yes we do have some very raw, new traders recently joined but they are very lucky to be able to feed off not just my experience but the long term profitable members who have stuck around and are now giving back. Whilst I don’t expect this from every member, some like to quietly do their trading in the background which is fine I totally understand however some like to interact and give back which is great to see. 

It is very tempting to just close entry into the group now with how settled and good the group is however I do like to leave the door ajar a bit because someone new might come along who could only improve what a great group we have. Plus I really do enjoy delivering the courses in person at hotels and enjoy the mentoring online.

So next year I will offer four small courses with a maximum of 8 people on both, two in the spring and two in autumn, two of them will be in the north of England and two down south. If you can’t attend a course in person I am still offering our online course, numbers are limited each month, the online courses can be done in your own time at your own pace. Every new applicant will have a 1-2-1 chat with me first before joining to make sure the course and academy is right for you or not. You do not need to have huge experience of trading or horse racing but you have to understand if you lack experience it is probably going to take longer for you to progress so you have to come into it with the right attitude and desire. I will keep a waiting list for both courses so to be added drop an email via the contact boxes on this website. Please state which course you are interested in and if it is to attend one tell me where you are from, roughly how far you are prepared to travel and your availability to attend. 

If you want to know more about learning to trade horse racing on Betfair in-play check out the previous success story blog posts below and check out the courses links too. Drop an email via our website contact boxes for more details and if you have any questions we can arrange a zoom or skype chat if you wish to know more.

Good luck & stay green

Matt

Links:

Some of our successful members have joined me on podcasts so check them out from the link below 

https://huntingforprofit.co.uk/podcasts/

and check out the link below to our testimonials page 

https://huntingforprofit.co.uk/testimonials/

If you want to know more about me check out my about page with links to a Youtube interview I done with Simon Nott from Star Sports

https://huntingforprofit.co.uk/about/

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

Check out our courses links below: