Here are a few things that helped me, especailly on the sim.

Hover in really close. The closer you are the easier it is to stay ahead of the plane. As you get farther away it seems to get behind a lot faster. The key to hovering is to avoid needing to play catchup. If you get ahead of the plane and stay ahead of the plane its a whole lot easier.

When you are hovering with the belly facing you look at the tail or the lower half of the plane, just use the rudder stick to push the tail in the direction you want it to go. I guarantee you that this is the exact same thing you are doing with the nose when the canopy is facing you.

Hovering takes TONS of practice, especially belly in. It may take you months before it starts to click so be patient and just keep putting as much time on the sim and with your real planes as you possibly can.. It will come eventually if you are persistant, I promise.

Also setup is key when you are learning. You need to have lots of elevator rudder and aileron throw but you need to add a good bit of expo.. One of the things that wil kill you is OVER CORRECTING. But you need the throw to help get you out of a bind when you need it.. Lots of aileron throw is a big help when hovering and torque rolling, the more the better.