Marine became Millionaire Trader using 3 Simple Options Strategy

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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
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.
#millionairetrader #optionstrading #0dte #options #tradingstrategy #traderpodcast #traderpodcast
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am sharing my opinion with no guarantee of investment gains or losses.
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[@HumbledTraderOfficial]

Salute to the Marines 👍 Comment your questions for Eric about his trading strategies and interesting career experience👇 Day Trading with Humbled Trader Community: bit.ly/3xz5GLk Get Free Stock Watchlist & risk calculator: bit.ly/3VFsXmN My own stock scanner Stox.io: stox.io/?

[@CallMeFil]

Ooorah

[@shutengloke5907]

Where's the 0 DTE part?

[@dsper1]

Everyone here watching crap videos on trading and not putting any effort to learn it. I can see based on the questions people ask. Only making humble trader richer lol

[@dohandavid]

How did you find NNE ticker?? Your weekly pick was NNE several weeks ago. I want to know how to find stocks for Scalping

[@MegaLifeHappiness]

​@dsper1 may be you could suggest legitimate training sources/platforms instead of belittling others. Not all are at the same level. It is a journey. But yes, your attention and comment also just contributed to the presenter's gain 😂.

[@CameronFussner]

Biggest lesson i learnt in 2024 in trading is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.

[@Franklin-gq4si]

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

[@williamDonaldson432]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@foreverlaura-fq4eu]

@@williamDonaldson432 Could you kindly elaborate on the advisor's background and qualifications?

[@williamDonaldson432]

Her name is Annette Marie Holt can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@CharlesArthur-fq5sx]

Thank you for sharing, I must say, Annette appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.

[@sreeraammohuna]

Wow. He nailed it. Need to listen to it 10 times to get it in subconscious mind.

[@toddmusser8555]

Eric is a very impressive person! Immersed in educating himself and extreme discipline. He is so down to earth with realistic expectations, amazing story. He seems like the kind of person that would be very successful at whatever he decided to do.

[@xacoklamon]

One of my favorite parts of this story is the power that a teacher has to positively impact a young person's life forever.

[@rusty4150]

Goner watch this again and take notes, one of the most thoughtful guys ive listened to. Thanks Shay

[@HumbledTraderOfficial]

🙌

[@OutlierTrading]

Great time chatting with you guys! Looking forward to catching up again!

[@shutengloke5907]

Did we miss the 0 DTE part?

[@user-ht7jt2gr5j]

You briefly explained 0 DTE at 40:30 didn't really understand the strategy. Your entry/ exit there. Can you explain more?

[@Mfam777]

Trading aside, you’ve been a hard worker and a marine. Thank you for serving us and what a good example you are to humanity. Your mom must be so proud

[@bubblybull2463]

We have literaly the same way to look at trading! I thoroughly enjoyed this interview, thank you for sharing in such a humble manner: you have a new follower ❤😉

[@ninetyfourclips]

i love the humbled trader content☺

[@HumbledTraderOfficial]

Thanks!

[@ordinarymatt]

Thank you for the book recommendations and the syllabus idea, you both rock!

[@stpaff]

That was a pretty awesome podcast I must admit. Thank you Humble, and God bless our Marines!!!

[@jamesnap601]

Always hit like before the viewing knowing what to expect

[@HumbledTraderOfficial]

🙌

[@alecweitl2477]

You have the BEST interviews!!!!!!!

[@ray77j]

Still not doing options...for now. Excellent interview!

[@varveloutdoors4066]

A very relatable interview for me. Thank you

[@HumbledTraderOfficial]

Cheers

[@janieart]

Great interview, great guy. I wish he would have gotten into more detail about how he brought up his small account strat wise instead of the typical "saving and working" method for all of us small account people.

[@remnant888]

So many good points in the discussion

[@jamesroberts5450]

This guy is hugely amazing! Thank you for such a great interview, and all the wonderful work that you do!

[@50Options]

This is such a good interview. Thank you!

[@unbelievable9750]

Thank you for putting time frame index. Saved me a lot of time.

[@bilw1960]

As it tends to be a solitary profession, its great to learn from the stories of other Traders.

[@TuanPham-bw6ge]

Thanks for sharing your experience and tips. Thank you very much❤

[@lisannnguyen2149]

Pure soul love you, I'm feeling what you are going through with your mom. I'm not as talented as you though, my mom is still struggling

[@chaojinoob4498]

Eric Smolinski is an experienced trader. I can tell he is a smart and hardworking guy.👍

[@accountingmaster2023]

thanks shay! this was a very informative video 🙏

[@JAE10107]

good podcast good info my key takeaway know your why know your risk tolerance avoid drawdowns on account cuase of compounding / loss on that

[@CodElevator]

I love options with the delta/theta compared to futures. It's delayed gratification vs future's instant gratification. You can only lose 100% of what you put in, but also DCA at a discount price, so long as you stay within your strike price so that once you're back in the money, Theta will begin to work for you at an astronomical rate due to building your position size. It takes foresight with the overall market, based on the information govern to you with the strike prices to be able to DCA effectively options.

[@Sketches8]

huh? i dont get it, how does theta help you make money? Isnt theta just decay?

[@LaifuLama]

@@Sketches8 The guy does not really know options. He seems to long options but theta works again long positions no mater calls or puts, in or out of the money.

[@ІгорСтепанюк-т7ю]

Thanks great interview👍

[@ihtfp004]

Ratio call diagonals are great and all but I guarantee you as he trades options longer and bigger he will find that he can express his opinions using much more simple options structures.

[@OutlierTrading]

Ratio diagonals are about as simple as they get - Long option base position with some short calls sold against to offset theta. Two total legs.

[@72CrossingRS]

Thank you both for nuggets of info. New to this journey but wish I had been in a better place years ago to start. As his Mom, I also was a single Mama whom worked hard for us to have needs met. Was never much left, if any after all bills. We did make it through and now the learning of trade starts.❤❤❤ Again thank you both for sharing your journey.

[@dmytro1933]

Thanks for the interview!

[@TomerHY]

This guy is so smart!!!!

[@lohmiperez5258]

Very informative course. Thanks

[@uaspuck587]

great content. looking forward for new videos

[@lettruthprevail9820]

I have a paper trading account. I use it to take trades in things I’m not sure about and use to follow a stock I’m not sure about. I also will buy a single share so I can keep it on my radar. Problem is there are getting to be so many stocks it’s hard to keep track.

[@supercruchynoodle]

Thank you for interviewing a second successful options trader Shay! V interested

[@HumbledTraderOfficial]

Cheers

[@jacques3819]

Very good, thank you .

[@bullringtrading]

Excellent podcast again ❤🎉👍🏼💪🏼👏🏼

[@ラッセル9728]

11:36 im the same way. 3 years in and still locked in

[@richardsanchez7709]

When you understand timing your entries and understanding Strike price, you won’t have to worry about Strategy 😅

[@rayrogalski2756]

Great experience given to learn

[@alexandermarcek1096]

great discussion...thnx

[@X-jj9zs]

As a lawyer I am laughing at everyone that believes clickbait titles without an ounce of proof to back up the claim

[@daimu7971]

I’m with you

[@bornwin-sx9oz]

Agree

[@cseliman]

He made everything sound very complicated when that’s not true…

[@alpha12th]

Disagree with the notion that trading requires constant strategy changes. Consistency and refinement in one approach can lead to success

[@andriod8014]

No it does, you have to adopt to the changes of the markets. Almost every big trader says this. Even I who started 7 years ago. Trading before and now are completely different, don’t rely on one strategy you have. If you have a strategy that works in the 1980s then it’s perfect and no changes are needed.

[@JosephSAi2HT]

Is it wierd that i understood everything he said in the abstract, i mean apart from the detailed experiential knowledge of options; but less that (which in time i will ascertain) i understood everything from process, system, to the sub/concious, and mindful psychology. Uncanny, ironic, and by far the closest, especially when it came to the broad stroke of statistical influence that others partake in; relative to his being wary of such and the relative importance to detail in its application to influence for the analytic community. And not to mention the importance of simplicity to adjoin in approach. 👏 nice!

[@JosephSAi2HT]

Oh and sorry to the army, that they A int R eady to be a M arine Y et 😉

[@Untheiceman]

Options is a depreciation asset so stay moving rolling further out as you trade the trend

[@jarrett7774]

I know the primary purpose of trading options is to make money, right? But is it a zero-sum game? If not, what strategies should you implement to pretty much guarantee that it's a win-win (or at the very least, a win-breakeven)?

[@zakisandhu2522]

Who was the first option trader so I can watch the vid?

[@Bat0u89]

Can I get his excelsheet 😅?

[@shivamasija]

29:00 Strategies he use : 1. Covered strangle 2. Ratio diagonals 3. Short straddles / strangles

[@daimu7971]

Crap strategies

[@sebastiandilauro7324]

I would like the interviews to be supported, I mean that they are supported by showing said performance...

[@tknarizona]

When he starts his strategy or technical analysis. What does he base it off of. 1 day,5 day chart? Thanks

[@kpb-fe7wo]

A Fantastic and informative interview. Well Done!

[@LaifuLama]

I admit I did not go through the whole long video. Eric is convincingly good. But I still don't get his "3 simple options strategy". Is it one strategy with three simple options?

[@tknarizona]

When he starts his strategy or technical analysis. What does he base it off of. 1 day,5 day chart?

[@Helsong2]

What capital does he have if big. I bet he will get big

[@teamtraders-10]

Is day trading legal for international students in Canada ?

[@PM-od7bk]

Sorry Shay absolutely loving this interview, however rolling trades can and should be selling part of a trade that has realised say a $1000 option trade just past the $1000 and say is now at $1,400 you sell $800 of that option therefore you have a $200 dollar risk with still $600 value presuming the trade continues in the positives. Certainly possible

[@jaytechpinoychannel]

nice talk more power

[@LilacTian]

Been struggling to find a good options trading journal That can extract my trading records from the broker directly. And recognize my combinations like risk reversal or cover the call automatically. Is there anything like that on the market?

[@OutlierTrading]

highly recommend thinking through to develop your own. it's a little tricky at first, but will help you so much more in the long run. start by thinking of the aspects of a trade that you would use to form other trade ideas.

[@sudeepchopra8583]

The humbled trader seems to be sitting in a PhD classroom with Eric being the professor 😂

[@nathanthomas1334]

35 years of gambling vs trading that's why we lose money year after year, I sell my winners and keep my losers, but I can go to Vegas and beat slot machines bc I walk away from bad machines, but not trades. Not having stop loss has been my biggest weakness.

[@richardsanchez7709]

It’s because you don’t know you and doing 😅

[@Alim-rk4km]

Hello I have been following and watching your videos couple of years. but i traied most of the brokers they do not support retail investor out of the US. So please tell me i am from Oman which broker is good and allow to trade stocks from oman

[@chcowboy5410]

ORM BAMCIS nice.

[@2023gainer]

Large percentage gains trades in the EV sector as it Surges another Summer. FSRNQ.. Fisker... Rivian... Lucid..Surf Air Mobility...Zapp .. Archer Evtol Jets.. Lillium Evtol Jets and more. Thumbs Up video/ comments. Thanks.

[@JenMarco]

After 2 and a half years of trading options, I know what the delta and the other Greeks are but wth are people talking about when they say the delta on a stocks, futures and CFDs? Where are they seeing this information?

[@user-ht7jt2gr5j]

I have been Trading options for 1.5 years. A lot of SPX. Have you figured out working strategies yet? Or still figuring out?

[@JG-cj4db]

Ooh Rah Devil Dog!!

[@slee4966]

4.2 years trading averaging 15.5K but don't know how to improve my returns.

[@options888]

What 3 strategies did he mention?

[@user-ht7jt2gr5j]

1. Ratio spread 2. Strangle / Straddle 3.

[@OutlierTrading]

Covered strangles, ratio diagonals, straddles and strangles ~29:04

[@lhr881]

6 years trading and not profitable 😢

[@islandendeavor]

Maybe....1) you're not trading to your own style. 2) almost certainly need to learn more - find a course from a reputable trader, or better, find a KZbinr who's s trading seems like something that you would like Humbled trader, peachy trader, and Imani trading are 3 good ones. 3) PAPER Trade until you get a good handle on it, and then when you do start trading with real $$$, start VERY small! 4) learn about trading psychology - that has been my biggest hurdle. Good luck.

[@user-ht7jt2gr5j]

Options or stocks? If it is Options, I am in a signal service. Pretty good. About 85-90% success. The draw down days are hard. But, overall doing OK.

[@OutlierTrading]

Have to take a hard look at what you're doing and make some significant adjustments

[@vytautas5069]

What is your winning ratio vs losing one, first

[@Helsong2]

What lot you take if 1lot you take and your capital not big you are gonna margin call..

[@serpuhvagine8595]

Nice beard, bro

[@bornwin-sx9oz]

IONQ is my latest venture.

[@yanisaradiflorida.3770]

I can’t help but he looks so attractive!😅

[@Jodytookmygirl]

He was not a Marine Commander you used the military term wrong

[@StrykezMan09]

Hey Shay, will you ever start a signals service?

[@HumbledTraderOfficial]

Never

[@StrykezMan09]

@@HumbledTraderOfficial 😭 Okay

[@user-ht7jt2gr5j]

​@@StrykezMan09--- it's against her trading philosophy

[@down-the-rabbit-hole]

Signal services don't work with day trading options. Price action moves way too fast for that. By the time you place a trade and notify others, the trade is usually done. The only time an options signal service MIGHT work is with swing trading, but even then the price can still move over $1.00+ by the time others are notified.

[@shutengloke5907]

1. Signal service is not effective 2. Signal service is for losers 3. Signal service is like spoon feeding

[@chewie1355]

23:29 that’s me

[@mosqutio88]

Ok - what are the three?

[@LifeIrony-o4x]

She's gorgeous

[@shawnzamir1]

Thanks for the information but didn't help too much. He didn't explain step by step how he pick and execute the option.

[@LyricsQuest]

He provided the plays he likes and you can infer his strategy from the nature of the strategies. Here's what I got: covered strangles (Price either going nowhere or up) ratio diagonal spreads (Max profit from price going nowhere, limited profit on the upside) short straddles/strangles (Price going nowhere, capitalizing on theta decay)

[@dovec375]

if one had invested in Apple like he did, leaving it in the account and forgetting it, from 2007 to today it was x200 and Netflix x100, so rather than success I would say luck

[@andrewjankowski5153]

Buy $VZ $41 PT $62

[@bsivoljr]

You know Drake is cooked when he is disowned by a canadian trader🤣🤣🤣

[@babyblue7798]

:( i only have like 10 yrs of trading , hopefully.. I am just learning trading at 62.

[@shawnzamir1]

I would love to listen 20 to 25 min but 1 hour and 27min talk too much. It would be better talk to the point.

[@guitarsz]

if you say individual trade one more time

[@florian5810]

that could be your new bagholder....😁🤣

[@pediclescrew]

Nice interview, but this guy is way too biased against vertical spreads. Just because some trades vertical spreads doesn’t mean that s/he is choosing that strategy before understanding anything else. Everyone has to choose and trade their strategy, and with the correct mindset and risk management can be profitable.

[@Untheiceman]

Is the act to getting a lot money take an evil element to make that happen. ?I’ve been trading since 99 really

[@KPF-I]

Kind of pointless interview. He said a lot but nothing at the same time.

[@RussellStonerComedy]

i think the term youre looking for is called word salad 🥗

[@Trade2Invest-]

Ooh Rah!😂😂😂

[@ahikernamedgq]

16% annual rate of return is very unrealistic.

[@AlanTrades]

I lost 35k this month on options. I will turn around soon with options

[@luliauburn1344]

What did you trade? I lost 38k in 3 weeks with spy 0te.

[@Nadex2015]

strategy is not as important as trading psychology

[@Blessed372]

Sooo true......most people do not understand this

[@ltlagarde3257]

Rah

[@s404n1tn0cc]

What no stop loss.

[@LyricsQuest]

Stop losses on options is asking to be stopped out, as option prices are very volatile.

[@GM4ThePeople]

how u baktes bro

[@qaweb28]

Alwaya excellent BUT longer and longer and loooongerr ?!?!

[@stdquality]

Hey Shay, You need to water your houseplant! :>)

[@javamochafrap]

TL-DW

[@Moviegobbler]

How I trade lol 😅