Okay. 3, 2, 1.
It's the pitcher coming up there? I am. All right. I know when friends or any here, and this is the zero days to expiration podcast. Zero D T E. It is Wednesday, December 22nd. Just days before. St. Nick will visit your home. Won't visit my home, but may visit your home.
And today is a very interesting day today's podcast based on a tenant of everything that we talk about here at zero DTE, zero dash DTE. Returning visitor, everything that we talk about revolves around a minimalistic approach, a very Zen approach, he Buddhist approach, if you would. And that is that less is more we're at a zero DTE practices are trying to put on trade after trade chasing after price.
Failing failing, failing, hit fail, fail, fail, fail, fail, fail, fail hit. We don't do that. We take a very sure footed approach for 80% of our trades. We only put on a position once and we might add to the position on rare occasion. Very occasionally like today. We realized that after we've put the trade on the market starts reversing for who knows why nobody knows.
We decide to put on an opposing trade, if that works great, if it reverses again and the other one works great, but that's it, after that, the game is over the most that we could possibly do. Is buyback back the short strikes of the original trade. If price keeps on going in our direction towards that second final trade, there are no adjustments.
And the only reason we do that, The reason why we buy back those shorts of the original trade is that once they become essentially worthless, the only value that original trade hat has in it is under the very unlikely case that the market decides to reverse. Again. Now we've done that actually for four different times.
And three of those times they turned out to be huge winners, pure luck, but it can happen. So we put on the first. Didn't work put on the second trade and now it's starting to go into our, our wheelhouse, so to speak, it started to move against us. Some people ask, well, what do we do now? Or any? We do nothing.
We took our shot at it and that's it. Hang out. Watch again. Be unattached. That's the key. Be unattached to the trade itself. We get three opportunities every week, every Monday, Wednesday, and Friday, because options on the S and P expire every Monday, Wednesday, and Friday, unless there's a holiday on Monday or Friday, then it's Tuesday, a 30 Thursday respectively.
So we get three chances at this now because we follow an asymmetric approach, everything about what we do. Involves asymmetry our risk to reward asymmetrical. We won't even take a trade unless we have one part risk to five parts reward that is orders of magnitude, or I should say the exact opposite of what every other zero DTE practitioner does.
So we take a one to five, sometimes a one to 10. Whatever works in our current situation. So that means that if we lose, we lose practically nothing. It cannot hurt us on a loss. We cannot be heard. If we take that minimalistic approach and you don't pile on. Now I know that there are a lot of new traders that are in the service that liked to once they put that next, that first trade on, they want to know, well, when can I add another one Ernie, what's your strategy for adding another one?