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Thanks for your reply. Sorry in advance for the constant newbie questions!
1. If you had to start over, would you still recommend the Cordier’s book over DeCarley’s. And specifically which of Decarley’s books would you advice for option future strategies/understanding to your style of trading.
2. Whats your opinion on MRCI reports. Recommended?
Thanks
Can you help answer these questions from other members on NexusFi?
One nice thing about MRCI is that they show charts for the seasonality of volatility. These charts help to avoid selling options just before a critical phase of the underlying, eg. the blooming period of coffee.
As far as I know you can have a look at Season Algo as well as MRCI free of charge.
1. Thanks Ron and Myrrdin. I’ll have a look at both, from my understanding both provide recommendation for trades? (Of course your own analysis is required).
2. I’ve also enquired with opening a DeCarley account. I also have accounts with Saxo. Commission /costs of trades is quite important for selling options. From your analysis how do these Saxo prices compare to the Broker’s you are used to: cannot post link. So google, ‘saxotrader commission options’ > ‘Pricing Overview’ > ‘CO- Contract Options’ > ‘Rates and Conditions’.
3. For paper trading which service/broker do you recommend. Saxo’s demo accounts usually expire in 20 days which is quite inconvenient.
MRCI does have recommendations for trades, but I do not suggest to follow them blindly. My major check is if the actual chart follows the seasonal chart for the most recent months. Additionally I check S&D and COT data.
I worked with Saxo many years ago, but left them beacuse they did not support selling options. But this was long ago and might have changed since.
How about looking at IAB regarding paper trading ? The only disadvantage I see is that they use different margin for option selling than other brokers. Especially selling naked is expensive. But for a paper account this should not matter.
Slightly higher margins might help to some degree in that they can help decrease the number of positions
and risk that we might take on. ROI is somewhat arbitrary depending on the type and size of margin.