No More Pattern Day Trader
By Ernie Varitimos
April 20, 2022
0:00 / 22:01
No More Pattern Day Trader

3, 2 1. And we're like, oh, what is this? What is this? Let's bring this microphone into play at the big head on here. Here we go. You doing friends? It's Ernie here. And this is the 90th episode. Of zero days to expiration 90 whole episodes. It seems only like yesterday that I started this podcast pretty soon we're going to have 500 episodes.

Well, that'd be wild, but 90 episodes and every episode I believe has exceptional. Content that you can use for your trading and in particular trading, the zero DTE, I should say the zero dash D T E because that's what we do. We are the And if you'd like to try out the service, now this isn't an alert service by.

Let me be very clear that we are not an alert service. We are not here to pump out alerts. And then have you follow like a monkey?

Yes, that was a monkey and blindly put on the trades. No, this is an educational service. I am your coach. I am your mentor. I am here to teach you not some trading strategy. Although there is a trading strategy. I am here to teach you an entire system and it doesn't matter if you are new to options trading, or if you're a seasoned professional, I'm going to show you a system that can make you a lot of money using very little cash and zero anxiety.

That's the biggie right there. Zero anxiety, stress, free trading, and very, very gratifying. I must say that. So if you're thinking of joining the service and the first thing you want to know is where are the alerts? Where are the alerts? I'll show you where the alerts are, but I'll also tell you that that's not what we're here for a man.

Whoever we're here to learn. We're here to experiment. We're here to explore. We're here to gain wisdom. We're here to make money. So let me make that perfectly clear. This is not a game. We are all here to make money and we want to make serious money and we want to. Fun doing it. We do not want to feel that pain that most other traders feel the vast majority.

And one of the reasons why one might feel pain when trading is what this particular episode is all about, and that is coming face to face with the pattern day trader rule. You could be flagged. Yes. Flagged flogged flagged. It feels like the same thing. A pattern day trader. If you do not follow the rules, you must follow the rules.

If you don't follow the rules, you could lose your ability to trade for 90 days. That's quite a blow. You've spent a lot of time and effort and money and sweat and toil to get all set up and do this thing. You might even be making a living at it or trying to make a living at it.

And then all of a sudden you're flagged and you put on the sidelines for 90 days. 90 days. And once you put on the sidelines, you can't go to other brokers and try to get off the sidelines. It doesn't work that way. However, if you had planned ahead, you could do that and try to avoid it. That's one way, but let me explain what the pattern day trader rule is.

This applies to day traders as by the name goes. And what that means is. Let's first define what a day trade is a day trade is when you open an asset in a trade, open a position, and then close that same position in the same day. That same session you close it. That is one round trip trade. Now, the way you get flagged as a day trader is if you do four of those in any five day rolling period.