#17 – Will Maz Part 1 – Aspiring Trader Interview
We have a very special episode today that I’m super excited about. Today we have with us William, who is my oldest child. I have a daughter as well who is a couple of years younger, but my son is 14. And the reason why I am having him on here is that he has expressed interest in finances, stock investing options, and trading.
He sees what I do, looks at the charts and things, and has always been curious about it. We answer his trading and investing questions in Part 1 of this Interview. Part 2 is coming soon.
Show Notes and Highlights from the Episode are below.
Welcome 1:42
Directional or volatility trades, which are better? 1:43
What are ETFs? 4:34
Do all traders follow the same guidelines and fundamentals? 7:02
Do you trade from the technical or fundamental side of the market? 15:15
What is your favorite asset class to trade? 21:40
How do you choose your stops with options and futures day trading? 26:12
WHAT IS AN ETF?
“ETF is an exchange-traded fund. So basically what an ETF is, for example, we bought stocks for you. We bought some Disney, we bought some Facebook. Those are just individual stocks. An ETF is a collection of stocks and it could be, it doesn’t have to be for an index.
It could also be for a set of, for example, fidelity just came out with a new metaverse ETF. So what they’re going to do is they’re going to basically say, instead of you trying to figure out. Which are the hot stocks in the metaverse, for example, you would just buy the ETF and then their managers. In other words, you don’t have to worry about it on a day-to-day basis.
Their managers will go and buy and sell stocks within that fund. And then hopefully you can make a profit.”
TECHNICAL OR FUNDAMENTALS WHILE DAY TRADING
“I trade technically, especially with the day trading and the medium-term trading. And when I say the medium term, usually with futures, and again, everybody does it differently. There are people who trade futures, they call it position trading, and that means they just buy futures and they’ll hold them for sometimes two, three weeks, or more.
That’s a little dangerous with futures because futures are very expensive. So if it goes against you because of the leverage that you’re given with futures you could make a lot of money in a short period of time, but you can also lose a lot more money like 10, 20, 50 times the amount as with a stock.
So I always enter based on technical reasons on what I think that the other traders were doing, 95% of traders lose. So part of the criteria for me entering trades for futures is understanding that 95% of the traders lose. And if I know where they are buying or selling and they’re losing, then I would just do the opposite.”
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