Erik Smolinski is a marine veteran turned millionaire options trader. With 16 years of trading experience, Erik achieved the remarkable feat of turning $2000 into millions through a risk aversion trading strategy. His journey is nothing short of inspiring. Seeing the financial burden on his mom who single-handedly raised him, he started hustling multiple gigs such as wood cutting during his high school days, and discovered stock trading as a way to generate compounding wealth.
Unlike many other options traders, Erik stands out for his strong emphasis on risk aversion and meticulous risk management. In this episode, Erik will break down common myths about trading 0DTE options and share his insights on how to approach 0DTE options with proper risk management and a consistent trading process.
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You will learn:
03:41 Trader's background of Eric Smolinski
10:59 How Eric started options trading
17:04 Master risk management at the portfolio level
24:57 Managing risk at the strategy level
31:56 Millionaire Trader Roadmap
34:56 Eric's systematic trading plan and preparation process
40:54 How to use data tracking systems to backtest trading strategies
49:15 Marine Corps experience helps his trading
55:56 Biggest trading win and loss (Dunning-Kruger Effect)
1:02:05 How to start options trading properly and avoid common pitfalls
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