Ep 113: Trading With Ryan Sellers
Knowledge is power when it comes to trading. It’s super important to stay updated on the news and world events so that you can have an edge when it comes to choosing the most promising stocks to trade…
However, finding reputable sources for information can be a huge challenge. On social media, it can especially difficult to cut through the noise.
Today, SteadyTrade host Tim Bohen interviews someone who he considers a highly reputable source of information for traders on Twitter: Ryan Sellers, aka @openoutcrier.
In the episode, you’ll get to know Ryan and his story, including his approach to seeking out trading news and his best advice for options traders.
What Is Open Outcrier?
Open Outcrier is a paid, integrated news service that offers subscribers the lowdown on options activity, large block trades, and commentary on chatter and rumors that are outside of the standard news outlets.
Ryan Sellers is the man behind Open Outcrier and its extremely popular Twitter account @openoutcrier, which shares a slice of the company’s offerings to nearly 50K followers.
Ryan’s account is the real deal. It’s on point, with relevant articles and links and well-curated information. It’s a must-follow!
Ryan’s Trading Story
Ryan’s decision to work in finance boiled down to a sensible decision…
After finishing school, he was considering either going to work for a concrete company or pursuing a career in finance. Standing on top of a building in Chicago in the dead of winter, suddenly the building lifestyle didn’t seem so appealing. So he chose to stay warm and work in the stock market.
Many traders start their journey as individual traders, then work their way into a firm or bigger company. Ryan’s career went in reverse: he started out as a market maker and working at a firm but eventually became an individual trader.
In the interview, Ryan offers a fascinating look at the life of a market maker. You’ll learn how they provide liquidity to the market, and how they take an edge for providing that service.
He also explains how the 2007 market crash changed the financial sphere in huge ways, and how the market and options haven’t been the same since.
A Change in Strategy
2007 was Ryan’s only red year, but it was ultimately a good time for his career because it forced him to change strategies.
Ryan is primarily an options trader. When he changed strategies, he began to focus heavily on looking to the news for cues about how to conduct himself in trades.
You’ll learn why, in the simplest sense, as an options trader his rules involve:
- Looking for calls if it’s good news
- Looking for puts if it’s bad news
He also explains how he chooses options to pursue and how he uses the news to monitor what might move them.
Getting Started With Twitter
In 2012, Ryan got on Twitter. It was a huge moment for him … Suddenly, he had access to and the ability to interact with experts.
He took advantage of these connections and began to contribute and interact with the wire, individuals, and companies. In learning what shapes the news, he began to create his own system of monitoring it. Listen to hear his incredible technique for monitoring what’s happening in the world.
Advice for New Options Traders
Interested in trading options? Be sure to listen to the entire episode, because Ryan shares some great insight.
He shares why options aren’t for everyone and why stocks aren’t for everyone. He also offers his thoughts on both paid and free resources that you can use to develop your chops as a trader.
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Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
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