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Many just want to talk about the winning side of trading and never want to address the losing side but if you want to profit long term you need to fully understand both sides. If you have a true edge in the market then you need to understand when and how you can maximise profits but also minimise losses by understand market conditions.

If you don’t understand market conditions, what is riskier, what is a poor liquid market, where the value has gone, what is actually going on in the market at that point in time then you don’t fully understand your edge. Your edge must cover both outcomes, winning and losing. But built into it must be the safe guarding of your trading bank. 

The problem with some novice traders learning the dark art of trading is when variance hits instead of going out of their way to fully understand the negative side to their edge, they beat themselves up, lose faith in the process they are going through then go off track looking for a new edge. 

We have all seen it right? you have a bad day, turn on social media and see trader x on X (formally known as Twitter) telling everyone he/she made loads of money today and proudly displaying their P&L for all to see. The trouble is trader x rarely shows when their variance hits or explains why and what is going on. It is not as cool to show as it is them big winning days right? 

Naturally these are the sort of periods some novice traders will look for other ways and methods to crack this when in fact this is the time you need to be intelligent and savvy in your approach. Learn to understand how variance effects what you are trying to do. If you fully understand a market that does not meet your criteria then it is about applying the correct mindset and patience to see this period out. Many won’t do this though, they want the action, the green trades. But you have to see out the ugly side of the markets too, do that and you will find yourself in profit. 

Of course the way traders understand and tackle variance will differ due to what their edge actually is. At Hunting for profit you learn the good and the ugly side of trading so you are well equipped to progress to profiting long term. You get to fully understand the market, understand how to read the market, execute correctly, so you can make them all important decisions and tackle the variance head on. 

So whatever you are trading, what markets, understand you must fully understand the market to profit long term. If you decide not to fully understand variance then the positive results will just be fooling you and you will go around and around in circles, get dizzy and break even at the very best. 

At Hunting for Profit I created this environment for people to thrive and have the best chance of success. It works very well, it does not matter what your current knowledge and ability as a trader is, what matters is your attitude towards learning this new skill, your willingness to embrace every part of the process handed to you, the good side and the ugly side of trading so you can then profit long term. 

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 podcasts and 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



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Some of our successful members have joined me on podcasts:

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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:

Check out members success story blog posts below: