Generally, you wear a watch on your wrist.
Not much compared to people who don't wear watches.
You can wear it on which ever wrist you want.
Usually on your wrist, but people wear watch chains on their belts or in their pockets for pocket watches, they make keychain watches, armband watches, and even finger/ring watches.
Men don't usually wear necklaces to events. Wrist watches say much more and have more class.
It doesn't really matter. It depends upon one's comfort.
The first poket watch was made in 1761 by John Harrison. The first wrist watch ever made was at the dawn of the 20th century. These wrist watches were only worn by women. All men still used pocket watches. It was only until the first world war that when the soldiers needed to use wrist watches (it would be impossible to take a pocket watch out of there pocket in battle) that men started to wear wrist watches. Half a century after men started wearing wrist watches did anyone invent digital watches.
In the 16th century pocket watches were popular for men to wear. It was more of a fad. It wasn't until world war 1 wristwatches became popular. They were called trench watches and were worn by men in the military.
A man normally wears his wristwatch on his non-dominant arm. That is, if he is left-handed, he wears his watch on his right wrist; if he is right-handed, the left wrist. However, since many watches are designed to be worn on the left wrist, some left-handed men wear their watches on the left.
I assume they are watches that you would wear around your ankle rather than your wrist. They are a watch you wear around your ankle. I sometimes wear a watch around my ankle as a piece of unusual jewellery. Not very practical, but I love the way it looks and feels so I have a few watches for my ankle now.
People point to their wrist because that is where people wore wrist watches. Many people wear wrist watches, but many do not since cell phones have taken over the time-keeping function. It would not be surprising that some folks would not understand where the gesture originated.