For nearly 40 years, Todd “Bubba” Horwitz has enjoyed a successful career in the financial industry. He began his profession, in 1980, as one of the original market makers in the OEX Trading Pit at the Chicago Board of Options Exchange and has traded at all of the major exchanges in Chicago. In addition to his career as a skilled trader and investor, Bubba has spent the last decade as a mentor and educator to traders of all levels. Bubba continues to concentrate on the education and training of would-be investors, teaching them the ins and outs of a professional trader. As the founder and Chief Strategist of BubbaTrading.com, Bubba manages the development and distribution of market content, product development and trade ideas. As an advocate of financial literacy, Bubba has also developed a program for high school students that allows them to learn and trade markets. In his own unique manner, Todd “Bubba” Horwitz delivers in a clear, unvarnished way, his take on the markets and his recommendations for navigating the often-confusing world of investing.  Always entertaining, never bashful, and rarely filtered, Horwitz will tell you insights about the market that others either cannot or will not. In this episode of How To Trade It, Bubba shoots straight from the hip with practical, simple, yet effective, advice on learning to trade correctly, so you can trade in absolutely ANY market conditions.  You don’t want to miss it! “Bubba” Horwitz, from @Bubba_Trading, believes that all charts are the same and all patterns repeat themselves. Listen to this episode of How To Trade It to hear more! #Futures #Options #Gold #Crude #BlowOffPattern #BubbaTrading Click To Tweet

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You’ll want to hear this episode, if you are interested in…

  • [00:40] Advice for new traders
  • [01:46] Probability is the key
  • [02:32] A strategy for everything
  • [03:07] 2-time frame trading
  • [03:58] Active traders should look to futures
  • [04:41] When I started trading…
  • [07:23] Trading starts at 9 am Eastern time
  • [09:56] The Blow Off Pattern
  • [11:28] Don’t be afraid to pass
  • [14:57] Trading either side of the market
  • [16:04] Setting your stops
  • [16:49] There’s no reason to start with the big ticket
  • [18:41] Timeframes
  • [21:23] All charts are the same
  • [24:07] Entry methods

 

Listen up new traders!

The first thing I teach new traders is to be patient and disciplined. They need to learn how to wait. The markets are open 241 days a year. You have to wait for your trades, you can’t force them. When you try to force it, you will end up losing money. As we’ve learned from sports, a good defense wins championships…so, protecting yourself keeps your money. Traders, especially new ones, tend to think that if they are in front of a machine, a trade must be made. Not so! If the price action you are seeing isn’t conducive to the trade you are trying to set up, then you can’t make money. Why put yourself in that position? Just learn to be patient and wait.    

We start trading at 9 am

Even though the U.S. Market doesn’t open until 9:30 am Eastern time, for the first 30 minutes of our trading room each day, we trade EURO currency, Gold, Crude Oil, and bonds, since those are already open. The U.S. Market still trades the heaviest volume during what were the original pit hours. If you ever watch, every morning around 9:30 am, no matter what the volume was overnight, there’s a huge spike in volume.Typically, we don’t trade the indexes of the equities until 9:44 am. Strange time, yes, but that’s how it goes. 

The Blow Off Pattern

We trade this pattern when there is a big news event, such as “Jobs”, for example. The market becomes completely irrational. You get a gigantic spike in volume and also in price, either up or down.  Those two things together create an opportunity.  If it confirms on the 1 min. chart, then we make the trade, either long or short. We often trade eight different markets at this time…Euro currency, Gold, Crude Oil, bonds, and then the four indexes.  But we are also never afraid to pass, if the set up isn’t there.  

 

Resources & People Mentioned

 

Connect with Todd “Bubba” Horwitz

 

Connect With Casey Stubbs

 

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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. 

 

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