Marine Corps Discipline Crushes the Markets · Erik Smolinski

EP 272 | Marine Corps Discipline Crushes the Markets | Erik Smolinski
Growing up poor and living in violent neighborhoods didn’t stop Erik from being motivated and curious. Erik only needed to hear a few words about investing including the power of compounding from his high school instructor to light the passion and determination to take ACTION. The discipline, responsibility, accountability, and patience he cultivated as a Marine Corp officer strengthened his ability to stick with his well thought out trading plans and persevere. His use of derivatives strategies help him to minimize painful drawdowns while creating consistent, long term market-beating returns.
About Erik
Erik is a Marine veteran, options trader, real estate and angel investor. He is a strong advocate for authentic investing information. Erik became a first generation millionaire before 30 through hard work and unwavering dedication to his Outlier mindset. He started investing in 2007 and has spent more than 30,000 hours honing his skillset.
Disclaimer:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
Topics & Timestamps:
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0:00 Introduction
07:45 Early investments & obsession with learning
16:30 Early returns and lessons learned
20:42 Greed leads to biggest drawdown
23:15 Importance of mentors and trading plans
33:30 Catalyst to become a Marine Corp officer
40:00 How Erik trades options
44:40 The Meme stock craze and high implied volatilities
47:55 The explosive rise of 0 DTE options
50:48 The high long term costs of just one drawdown year
56:10 Looking for reasons to say no to the trade
61:45 The problem with a high win rate
67:20 What Erik struggles with the most
1:10:07 Compounded annual growth rate
1:12:00 How to get in touch with Erik
Links & Resources
Website: www.esinvests.com/
KZbin: / @esinvests
Twitter: / esinvests
Erik’s Compound Interest Calculator: www.esinvests.com/compound-in...
Erik’s Loss Recovery Chart: www.esinvests.com/loss-recove...
* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: chatwithtraders.com/community/
#optionstrading #stocktrading #tradingmindset

[@esInvests]

Thanks for having me on, really enjoyed chatting with you guys!

[@richhands5269]

My three favorite channels: Chat With Traders, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥

[@jle92708]

Stock brother is a shill. Making everyone’s week incomplete

[@hamisintunzwenimana8083]

Good Technical 1. Big picture / Trading Plan 2. Position Sizing / Learning Process

[@Fromtheseatoriver]

One very important take away is have your written plan. This is invaluable lesson.

[@VR_investments]

This was really good podcast

[@alphabeta8403]

27:50 Options; Leverage 50:30 0DTE options 1:07:30 Expected return 1:10:00 Being risk averse

[@timothykiernan2880]

This is crazy, I grew up in Kingston, NY!!!

[@Dgreatson]

Chat with Traders, Love it... my fav erik... eye opener

[@jamielee7022]

I’ve been listening to Chat with Traders for years. Eric is a great person to learn from. Outstanding interview. Semper Fi.

[@karimnanji4163]

Awesome... Thank you.. I pray for you, your guest and all the world for success. I learned a lot!

[@robertk6377]

A great interview.. lots of take-aways. Thank you.

[@unidentifieduser5550]

I love the comment, "I will hold it for the perpetuity". I should hold at least a share for both to reminder me of my loss and the break of the promise.

[@billybitcoin]

ERIK is the MAN!!!

[@alikhodadadi9597]

Amazing episode with lots of notes to take. Thanks. Would you also have an episode with Mr. Al Brooks?

[@hugowesley4074]

Love Erik's content

[@Gaznanov]

спасибо за труд

[@mylesreilly5912]

You need to interview Charlie Burton.

[@user-lp7dp9it3h]

wp❤❤🎉

[@sunflowerhk100]

The intro is a bit too long and the tone of voice a bit too dramatic.

[@howiesoc17]

For real. That annoyed me as well. Use a normal tone of voice.

[@donaldlyons17]

Well but he has 200K subs though so he might get enough benefit to feel happy and it comes out dramatic.

[@mostfa33]

Why dose she talk like that haha