Just like trading options, always watch the charts for the underlying stock before touching the warrant. Time is of essence, the longer until they can be exercised, the better for you. If the stock is on the uptrend on the monthly, even weekly, warrant is worth touching, otherwise, not.
I'm following this guy
http://www.preciousmetalswarrants.com/ , have a couple of positions, and am waiting the market to go up as it usually does during Sep/Oct. Last year, every decent miner you bought in September, it doubled by December, so, maybe we'll share the same fortune this year as well