Becoming a Professional Sports Trader is not a small feat, with only a select few managing to achieve this prestigious goal.
The reason is simple: the professional must possess multiple essential qualities and characteristics simultaneously. The role of a sports trader, along with its professional demands, calls for a technical specialization and a personal skill set, which, besides being a “conditio sine qua non” for starting, also ensure the success of any planned project.
Moving beyond the purely technical and strategic aspects, let’s delve into the 10 skills i believe are necessary to undertake this profession:
Risk propensity
A Sports Trader generally has a high risk propensity.
This field is not suitable for those with a cautious attitude towards financial management or life in general.
The significant benefits that come with success in this job are directly linked to the nature of sports trading as a high-risk financial activity.
Method and control are fundamental, while prudence and anxiety are strongly limiting factors for becoming a sports trader.
This is not the place to seek certainties; the only certainty a Sports Trader has is awareness of their own method and abilities.
Budget and financial vision
A professional in Sports Trading operates with a predefined budget, just like in any other investment-related activity, and as it should be when starting any new business.
The budget must be entirely separate from personal and business financial movements. It is managed with money management techniques and is strictly independent of the Trader’s primary financial needs, which theoretically should be able to support the total loss of the allocated budget without any problems.
Personally, I have always approached this issue with an entrepreneurial mindset: defining a budget is equivalent to injecting the share capital when a new company is founded. This capital is, by definition, “risk capital” and is potentially exposed to loss.
Long-term vision
A professional must inherently adopt a long-term perspective. Their performance, as well as the return on capital dedicated to their activity (commonly referred to as ‘yield’), is typically assessed over the calendar year, mirroring the financial reporting cycle of any business operation.
Personally, when investing in football-related events across Europe’s leading leagues, I align my investments with the seasonal timeline these events follow, running from mid-August to the end of May, occasionally punctuated by standout summer tournaments (like the Euros or World Cup), which I regard as exceptional off-season opportunities.
Having a long-term outlook doesn’t conflict with short-term planning and assessment; in fact, it’s quite the opposite. My annual Objectives and Key Results (OKRs) are broken down monthly and then further divided into weekly targets.
This approach doesn’t diminish the necessity for professionals to possess patience and a long-view mindset, especially in navigating the inevitable downturns that are a natural part of the process.
Diversified income
The sports event market isn’t the only investment arena for a sports trader, though it undeniably serves as their primary and most crucial playing field.
Similar to other financial ventures, diversifying investments and professional efforts to secure various sources of income is key to spreading financial risk and mitigating the inevitable mental strain associated with trading.
My initial career, up until a few years back, was centered around the businesses I founded, managed, and helped flourish; this experience also equipped me with a mindset beneficial for navigating the world of sports trading.
Recently, however, the tables have turned: sports trading has taken the lead as my main occupation, while my now-established businesses serve as a secondary income source and a wellspring of energy. They provide a robust foundation for tackling other projects.
Specific industry competence
Warren Buffett, one of my go-to sources for investment wisdom, champions the core principle that one should only invest in areas they thoroughly understand.
I firmly believe this to be an absolute fundamental rule.
A professional, such as a sports trader, isn’t a jack-of-all-trades and doesn’t get involved in just any type of event. Instead, they possess a deep understanding of specific areas and navigate within those realms.
What exactly is the unique expertise of a sports trader? Their job primarily involves accurately interpreting the flow of a sports event and making investment decisions based on that analysis.
Thus, a profound knowledge of the event’s dynamics and the sport in question is crucial for correct interpretation.
For instance, while I have a global passion for football, I channel my investments into the major European leagues (England, Italy, France, Spain, and Germany), where my specialized knowledge lies.
Method
There’s no one-size-fits-all method, nor is there a magic formula.
Yet, at the same time, no professional exists without their own tailored, codified method.
This method is deeply personal and subjective, forged through years of experimentation and often costly mistakes, and it’s always under continuous refinement and enhancement.
Years ago, when I first realized I could turn this passion into a profession, I immediately recognized the need for a structured methodology. It was rigid, often challenging to adhere to, and a source of discomfort, but absolutely vital for instilling the kind of discipline essential for a sports trader.
Over time, this perhaps overly strict method evolved, incorporating “variations on a theme” that enhanced its effectiveness. Yet, in its initial phase, it was crucial, helping me to develop my professionalism and a solid working foundation.
Resilience
Resilience is defined in psychology as an individual’s ability to confront and overcome a traumatic event or a period of adversity.
For those aspiring to become sports traders, resilience is undeniably a strength in an uncertain world fraught with challenging phases driven by variance or losing streaks. In such situations, experience, a long-term outlook, tenacity, and self-awareness are crucial.
Resilience, like any other psychophysical attribute, can be developed.
How do I train it?
In my experience, gaining an understanding of the theories and techniques behind mental processes that influence decision-making has been immensely beneficial in enhancing and fortifying resilience against stress or adversity.
However, theory alone isn’t sufficient in any field, as true practice, akin to athletic training, relies on repetitive actions. Thus, in the realm of sports trading, it’s crucial to learn how to manage difficult periods: confronting them with the right mindset, overcoming, and emerging victorious instills a sense of one’s capabilities essential for this profession.
Humility
A humble, self-critical, and open attitude to change as a form of improvement is essential in a sector that is constantly evolving like Sports Trading.
The term and definition coachability better convey the idea:
Coachability is the combination of the mindsets and behaviors for continuously integrating feedback to drive growth and change within ourselves.
In this world, feedback is dictated by the data that should always guide the professional towards improvement through a self-critical and constructive approach. As described earlier, building one’s own Methodology is essential to profitably tackle this type of activity. Building a good method necessarily requires the ability to learn from mistakes, which in turn requires the ability of humble self-criticism. In my case, it was not difficult as I have always been predisposed to learning and change, understood as a continuous possibility of improving myself, in all respects.
Socrates affirmed, “I know that I know nothing,” to predispose himself to total openness to learning, and I have always made this concept mine.
External support
For those who embark on this profession at a professional level, I believe it is essential to have their own points of reference, whether friends or family.
Humans are social animals, and as such, they cannot thrive in isolation.
A sports trader often keeps the details of their work under wraps for various reasons, from the sensitivity of financial data to misconceptions about an industry wrongly associated with gambling and betting.
For this reason, it’s natural for a professional to share the daily ins and outs of this exhilarating yet sometimes stressful job with only a close circle, and the support from these few is indispensable.
Personally, I’ve been incredibly fortunate to have had the unwavering support of my partner, who was my girlfriend at the beginning and is now my wife. She has always been there for me, never holding me back, especially through the tough times.
If I’m here writing this blog, it’s largely thanks to her.
Mobility predisposition
On one hand, a Sports Trader has the enviable opportunity to live wherever there is an internet connection, but on the other hand, they have the misfortune to work in a destructured and often obstructed legislative and fiscal context.
Not all countries allow professionals in the sector to use professional platforms (betting exchange / betting brokerage) and especially to regulate their income fiscally.
This is the motivation that guided my fortunate move to Slovenia, a modern, open, and free country that allows me to practice this profession.
Conversely, in Italy, I would have had to work in a context of illegality: absolutely demotivating and unfair to those who have the ability to practice this beautiful activity profitably.
The first fear I encountered in my self-analysis journey was the fear of success.
It seems paradoxical, contradicting common logic. Why on earth would a mentally sound person be afraid of achieving success?
Yet, the fear of success (also known as fear of achievement or nikephobia) is more common than one might think. And looking back, it’s almost incredible to remember how this fear constrained me for nearly two decades across various areas of my life.
It usually manifested sadistically through self-sabotage.
Every time I was on the brink of surpassing my usual level of success, I would inevitably face an unexpected situation. Or, I made a stupid mistake that demolished everything and forced me to start from scratch.
Even during my teenage years, in academics and sports, I was always the one with immense talent and potential, always coming close, yet always missing something. In every endeavor, I achieved great results; starting strongly, effortlessly progressing, yet always stopping just shy of complete success.
The truth is, success is scary. I know that now.
Why is success scary?
Success is scary to yourself and others because it radically changes you, takes you away from what you have been until that moment, and how others see you and want to see you.
With success, you are the center of attention, like a 3-year-old receiving all the attention, able to desire and obtain everything. And that’s frightening. It’s scary to think of yourself as different, to expose yourself, not only to the (few) admirations but also and above all to the (many) envies.
Success means complete “Freedom,” and this can be daunting to some. Not directly in my case, as I have always aspired to achieve success, but perhaps to those who would prefer that I remain the same.
Unfortunately, I grew up in a cultural and educational context where success was always hindered. Unlike the American educational context, for example, where success is the ultimate aspiration, within everyone’s reach, and is continuously supported and stimulated.
How to achieve success?
In Italy, all the institutions contributing to a person’s formation hinder success in some way. From the State that prefers to have public employees without freedom of thought rather than forward-thinking entrepreneurs, to the School that doesn’t teach ambition, that doesn’t nurture the dreams of a child or teenager. Up to the Parents, who want their children to always be the same and always stay close to home.
If you succeed, you become free, and this is frightening. (After all, “wishful thinking” only exists in the King’s garden, they tell you… right??)Subconsciously, you perceive the risks associated with success: the risk of disappointing loved ones, the risk of changing your status, or the risk of betraying your foundational principles.
It becomes easier, then, to self-sabotage.
How did I solve the problem? As Igor Sibaldi says, by asking questions. And here are some of mine:
Are you ready to expose yourself?
Are you ready to be the center of attention?
Are you ready to be envied and criticized?
Are you ready to desire everything you want?
Are you ready to distance yourself from those who want you to stay the same?
Are you ready to overcome the obstacles of those who will put sticks in your wheels?
Are you ready, if necessary, to change status?
Are you ready to change your thinking?
Are you ready to create the life you (and only you) want?
When I answered a resounding and emotional “Yes” to all these questions, my personal journey towards success began!
Throughout my life, I’ve pursued speed relentlessly, in both personal and professional realms.
Quick decision-making, swift purchases of goods or services, and rapid morning routines. Speed was paramount, at all costs.
However, something changed, perhaps due to the times I made a correct decision, altered my course at the first negative sign, and later discovered I was right from the beginning.
Or maybe it was turning 40 and recognizing that rushing through life propels you just as swiftly to its final destination. But who wants to quickly reach the endpoint of this beautiful journey called life?
Learning from mistakes and shifting perspective
I had signs that made me reflect, like the moment I expressed my dissatisfaction to my mental coach about not immediately ending a working relationship with a manager. Right from the start, I understood that this person lacked ideas, values, and visions consistent with mine (and therefore with those of my company); however, I waited beyond the 4-month trial period and terminated the relationship after a lengthy 14 months.
I always viewed this experience as a clear mistake until my mental coach concluded one of our sessions with a question. “What if this episode is an expression of your need to extend timelines, of the pact you made with yourself to learn to wait?“
I believe it went exactly like that, and I experience it daily in other situations.
Sometimes I wake up later than usual, something I wasn’t used to before because it makes me feel behind in daily commitments.
One day, it was 8:00, and while shaving, I practiced my English by listening to the BBC on the radio until the English journalist started with a “Good Morning, it’s 7:00 o’clock.”
That moment was revelatory. According to my usual schedule, I was late, but had I been in London or any other city I frequently visit, I wouldn’t be. In fact, I’d be on time.
This realization illuminated a shift in perspective, one I believe will significantly shape my future, both personally and professionally.
Time is a convention
Time does not exist in nature; a tree doesn’t know what time it is, a cat responds to physiological needs but doesn’t know what time it is.
We, supposedly more intelligent humans (really?), ruin our lives with time and, above all, with the idea of the scarcity of time, leading us to live everything in haste, to accelerate any process since by the definition of time, there’s little of it.
Be careful; you’re already 40, and you must have a child. But who says it’s too late? Or that it’s a must-do?
In reality, we have as much time as we want if we aim to value it, to live it instead of waiting for it to pass. The key is to tune into our own frequency, rather than existing on others’.
Lately, on my Instagram feed, I read a phrase that moved me: everyone wants to extend time, but we should learn to widen it.
Moreover, recent studies in quantum physics quite clearly demonstrate the existence of multiple spatial and temporal dimensions, clearly showing that what we know about the concepts of space and time is arbitrary and limiting.
I believe that the relationship with time is one of the keys to the success of a Sports Trader and that learning to live on one’s personal frequency is fundamental to one’s success.
It’s all a matter of time, but individual time because short term and long term are arbitrary concepts if detached from the flow of one’s energy.
Eventually, it becomes easier to make decisions, easier to wait for the right opportunity, and it’s easier to have a future-oriented vision, with the awareness that we have time, always and anyway.
The success of a Sports Trader depends significantly on the ability to make correct decisions. For a Sport Trader, making the right decision is not very different from an athlete executing a perfect technical move. I believe that the bicycle kick is one of the most thrilling technical moves for a striker. It’s a blend of courage, coordination, and timing. Indeed, it requires technical competence, as all athletic actions, presuppose knowledge of the motor skill necessary to execute it. A skill and competence acquired through repetitions in training.
However, competence alone is not enough. A striker performing a bicycle kick has undergone a genuine decision-making process, much like what we all do in our daily lives.
First, the athlete decides whether to execute the bicycle kick or hit the ball differently.
Then, they must choose the right moment for execution, coordinate the athletic movement, determine where to direct the kick, and consider how to land.
The Competence Without Comprehension
We usually think that rationality guides decision-making processes.
Certainly, thoughts, as the “dialogue” with our mind, plays a significant role in any decision-making path.
But it’s equally true that often the final decision, the most important and effective, occurs through intuition.
Intuition is that faculty that goes beyond rational thought, and it’s what’s called Competence Without Comprehension.
Have you ever made correct decisions without exactly understanding why you did it, but with the certainty of being right?
That’s the intangible competence; knowledge that you can’t quite explain yet.
There are extremely rational people who don’t rely on intuition, while others, more creative, overemphasise it in the opposite direction. The truth, as always, lies in between.
How to activate Competence Without Comprehension
Intangible Competence is a faculty that activates only under certain conditions, particularly when one is at their peak potential (flow state). Self-confidence and psychophysical well-being enhance this kind of capability.
After all, which player would think of a risky move like a bicycle kick in a moment of low psychophysical well-being?
Personally, I tend to make decisions through a process of elimination, selecting from the starting situation a range of possibilities. Then I gradually exclude the worst options following purely rational logic.
However, when it comes down to choosing among a limited number of options (two, maximum three), at that moment, I step away from data analysis, pros and cons, and rely on other more subjective criteria, more closely linked to the intuition process. The better I feel at that moment, the more reliability I assign to my intangible competence.
How can you nurture this crucial faculty?
Firstly, by acknowledging its existence. Then, by learning occasion after occasion, mistake after mistake, when it works well and when it doesn’t. In my case, there are three fundamental factors that contribute to enhancing this faculty:
1. Physical Condition
My intuitive process, my Intangible Competence, works only when I’m in good physical shape. In this sense, the role of nutrition (mostly protein in my case) and movement (walking at least 10km a day) is crucial for me.
2. Routine
My intuition works mainly only when I also respect my rational path. Therefore, I can’t use it to speed up the process; it only works at the end.
3. Waiting
Intuition, when it comes, is fast, lightning-fast. No rush or impatience; it comes when it wants to. So, it works less when you have little time to decide and works more when you allow it time to arrive, at the right moment, in the right place.
In conclusion, as highlighted in other articles, to succeed in this profession, one must combine rationality with other purely mental faculties. EXPLORE FURTHER
Intuition is crucial. It needs to be trained, valued, protected. Over time, it will become an increasingly precious ally of rationality in decision-making processes.
Embarking on a new season in sports trading? Much like gearing up for a championship match, new season preparation requires meticulous planning, strategic foresight, and a winning mindset. My sports trading rhythm is closely aligned with the major European football leagues’ schedules. These competitions represent the primary playground for my investments.
The “season” has always been the main yardstick for my performance. I also evaluate my performance based on the calendar year, more as an entrepreneurial practice than as a real necessity in the world of sports trading.
Here’s how my annual timeline unfolds: the season kicks off in August and concludes at the end of May, with approximately 2 months of summer break. June and July are months I set aside to unwind and gear up for the new season.
The parallel might seem strange, but just as an athlete prepares for the beginning of a new championship, a professional sport trader needs to prepare for the opening whistle.
Optimal performance doesn’t happen by accident. It’s the result of a meticulously crafted process, much like what’s required in competitive sports and other high-performance professions.
My preparation for a new season consists of six distinct phases, spread across eight weeks
Rest (week 1-4)
The first step towards a new season preparation is, fundamentally, rest following the conclusion of the previous season.
It’s always very important for me to predetermine rest periods, so I typically finish the previous season slightly in advance.
For instance, I intentionally sidestep summer international competitions like the Euros and the World Cup. This ensures I have at least a 2-month break between seasons. One month is dedicated to absolute relaxation, while the other is entirely devoted to pre-season prep work.
Taking a break means switching my usual routines of the professional season to engage in various activities that don’t usually fit during the busy season. From the classic leisure trip to reading for pleasure, I make an effort to disconnect from everything related to work.
Analysis (week 5)
After a whole month of complete rest, I immediately feel the urge to get back in the game. It’s an almost physiological desire, Sports Trading keeps me alive, offering the chance to challenge myself daily with new opportunities.
The best way to get back on track is to conduct a clear analysis of the previous season. A deep quantitative and qualitative evaluation of the decisions made is very helpful. In this phase, my historical database, where I record every single move, is absolutely invaluable.
Initially, it was a simple Excel sheet, adequately organized to sort numbers and statistics related to my activities. However, recently, my IT consultant has set up a straightforward cloud-based program that facilitates more convenient database management.
In any case, it’s crucial to objectively and self-critically assess the previous season, highlighting recurring mistakes (to limit in the following season) and winning patterns (to amplify and maximize).
Planning (week 5)
Still in the fifth week, following the analysis, we move on to planning the upcoming season.
A season lasts for 10 months, which is a considerable period. It’s crucial for me to have a comprehensive view of which moments will be the most intense and which will be more relaxed. This awareness informs not only my travels (I often reside in different cities) but also leisure activities and mental focus levels. Having a clear understanding of the peak moments of intensity and periods of rest is essential.
Based on this schedule, I can plan my new season preparation just like an athlete, ensuring I reach the peak of my psychophysical energy at the right times. Equally important, I can schedule recovery times during less intense moments.
Budget (week 5)
After complete rest, analysis, and planning, I tackle the financial budget evaluation, fundamentally for a new season preparation.
As a Sport Trader it is crucial to meticulously plan the bankroll, which is the risk capital dedicated to this activity (by definition, the initial capital is always entirely at risk) Also very important is decide how to utilise it based on the previous planning activities.
In this phase, I make some significant decisions relying on my established strategy and insights gathered from the previous season. This includes:
determining the size of my base wager (stake)
the average number of transactions I anticipate in each period
the expected average success rate concerning the number of transactions (win rate),
the average profit for each winning transaction
the projected overall profit for each month and the entire season.
In some ways, this process is quite similar to what businesses do when defining their commercial budgets: forecasting the expected revenue for the upcoming year and the strategies to implement.
A budget is, of course, built on indicative average values over the long term but rightly doesn’t account for short-term fluctuations.
You can be refined as we go, but in this phase, it’s essential to outline the strategy broadly, including:
Initial capital
Types of events
Average number of monthly transactions
Expected win rate
Average profit
This outlines a concrete performance goal, which becomes the ultimate aim of all the preparatory work. Here’s a simplified budget example with numbers not directly relevant to my specific case:
Mindset (week 5-6-7-8)
One month before the start of the new season is also the time to progressively regain the right mindset.
I firmly believe that to achieve a high-level performance, requires meticulous attention to detail, aiming for a state of emotional, physical, and mental well-being. This benefits the decision-making process in every stage.
In this phase, it’s crucial for me to set up a daily routine that helps both the body and mind to keep the right balance. However, it’s important to note that while it’s fundamental to have a routine during a season, it’s equally important to switch things up regularly. Having a routine doesn’t mean it’s always going to be always the same.
For instance, I’m lucky enough to be able to live in different places throughout the season. Thus, I often choose cities that can particularly stimulate me, such as London, Barcelona, or New York. Naturally, the routines in these three completely different cities change significantly. In New York the time zone positively affects the setup of my days. Evening events shift to the afternoon, and those usually held in the European afternoon are rescheduled to the morning.
What is important is to find and establish a routine that encourages certain good habits. During the new season preparation period, I usually stay at home in Portorose ,Slovenia, and begin setting a suitable morning routine typically around 7:00 AM (I’m not a fan of sleeping in). I dedicate the first half-hour of the day to meditation, followed by adequate time for breakfast and a morning stroll.
This setup helps me find my ideal rhythm before diving into work. Specialised reading is also integrated into my daily routine to broaden my mindset.
Last but certainly not least is adhering to a balanced diet, primarily protein-based and rich in fruits and vegetables. The overarching goal remains constant: to kick off the new season with both a sound body and mind, fully prepped for the challenges ahead.
Warm-up (week 6-7-8)
About 20 days before the season kicks off, it’s finally time to get back in gear, to regain familiarity with decision-making processes and the daily feelings of a Sports Trader.
During this period, European championships have usually not yet begun, and daily opportunities typically involve minor leagues (Sweden, Norway, Brazil), preseason friendlies, or national team competitions.
The warm-up usually entails a capital allocation reduced to one-tenth of the ordinary amount, resulting in decreased investments and exposure. The goal during this phase is not profit but rather to regain confidence in analytical processes, their timing within the work routine, and the experimentation of successes, errors, and variability.
At times, I also use another sport as a warm-up, Tennis, which is a sport I have a deep passion for. Tennis Trading, it is highly instructive and training during the warm-up phase.
The purpose of this warm-up is to not start the activity totally unprepared. Instead, fully aware that the first 10 to 15 days of the new season preparation will require an even more intense and demanding settling-in period through daily, real-world activity.
