How are you doing friends Ernie here? And this is the zero dash DTE podcast. Also a live stream on YouTube. I don't know why, but I have an itchy nose. Does that mean I'm going to get into a fight? Yep. Itchy nose. It is Monday, I had to actually look up at the calendar and say, yeah, it's Monday, Ernie wake up.
You're with it today. Today is Monday, October 25th. And last I checked. What are there? 31 days in October 30. I can never, I don't know that rhyme. Do you know that rhyme, if you do that tells you what number of days are in each month? Because I have no idea. You know what I need, I need coffee
here. I am. It's 15 minutes before the market's going to close and I need coffee. Today, I'm going to talk about something that may have the potential. It may have the potential to change your life. If you listen closely. And if you accept what I'm going to say, it's one of those life truths that, you know it's true, you know what's happened to you, you know it's the reason for a good deal of your trading success, but you won't admit it.
You'll never admit it. You know it though. So here's your opportunity to let it come out? Why you really. Successful in any one period of time as a trader. Now I'm not saying I'm making the assumption because that would be really overreaching, that you are overall successful in your trading, because the chances are, if you're a day trader or a retail trader that you're a loser pretty much, but you might've gotten lucky this year or the year before on maybe one or two trade.
That you put on? Well, let's say that we'll just wink and say, yes, you put them on, or that were put on by accident or left on because of your sloppiness. And they ended up being the biggest winning trades, not only of your year, but possibly your. And of course you'd love to just make and build a story around this and tell everybody how incredibly intelligent you were that you put on this trade that made 2, 3, 4, 5000% return on your risk.
And it was all because you forgot to close that darn trade, or you got to sign some options contract, and you didn't realize it until a week later. And you were lucky enough that the market took off.
I can almost guarantee that your biggest trades are exactly that. Wouldn't it be nice though? That might be like a real eye opener. So you're working this systematic strategy and you've got all your parameters down, you understand the carry of their, where the value is, where the momentum is.
You've got all these economic indicators and, you're doing all the right things. You've got an arbitrage grow going, and you're a little black box is feeding you trades and you're putting, and none of that is working. And then one day you wake up and you say, holy crap, maybe a Monday morning, holy crap.
There's a hundred extra thousand dollars in my account and don't laugh. Cause it happens. As a matter of fact, there used to be a trader on the S and P E-mini floor. One of the floor traders, they referred to him as number one. And he was number one for a long time. He was very pro prolific and he traded a huge amount of money, but it all came to pass.
The reason why he got into that position in the first place was because of an errant trade. He was actually trading gold and he thought he was. Busted out of an account because of a trade that he made. He came back the next day and there was $50,000 in there. He had hung an order and thought it was a bad order that it was busted.