#18 – Will Maz Part 2 – Aspiring Trader Interview
This is part 2 of my Podcast episode with my son William.
Use the Episodes link at the top of this page to view part 1 if you have not heard it yet.
I hope you enjoy it!
Show Notes and Highlights from the Episode are below.
Is there an ideal market environment for your trading? 1:03
Futures or Options for commodity trading? 12:29
Explain ALGO trading. 14:56
How do you find trades, and what time frames do you use? 29:00
What charts or indicators do you look at first thing in the morning? 34:45
ARE THERE IDEAL MARKET ENVIRONMENTS FOR YOUR TRADING?
“For stocks, no ideal market environment for futures because I’m day trading them to make money day trading; you need movement. Okay. You don’t want too much movement. Too much movement causes more volatility. And again, I’m separating this because you also asked me about volatility. So with futures, if you’re day trading futures and your flat, you want some volatility at the end of the day.”
HOW DO YOU FIND A TRADE?
“With futures, I trade off a very small timeframe. It’s a three-minute chart. I think you could do a five-minute chart, too; your timeframe depends on your skill and knowledge.
Okay. What does that mean? You can have a trader who knows the markets decently and can make money, but they can’t be quite as accurate as another trader. The lower you go in the timeframe, the more noise you get, meaning some ups and downs don’t mean anything before a real move, like where you can make a decent amount of money.
Some people trade when I say a three-minute or a five-minute chart. That means every bar that closes is a three or five-minute bar. So whatever price moves in three minutes creates a bar and the next bar forms. Now those are called minute bars. You can do 15-minute bars.
You can do 30-minute bars. You can do one-minute bars. You start getting into tick and range charts when you get lower than a minute. And what that is, it’s essentially a bar within a bar. It’s a bar that closes multiple times within a minute, and you can go even smaller than that.
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