briter & probing re: phoenix ai trading software a
briter and probing,
Cheers for getting back to my original post. That's interesting you're using the Phoenix software now briter and especially as it sounds like you intend to use it for day trading in future. That's also my objective.
Big question is are you using the Phoenix software as standard OR have spent some extra money to get the "optional" indicators that are peddled by both Gryphon and Neilsen/Inside Trader?
It's true probing that you can get the software for free (just go to Gryphon free seminar, etc)...you then sign up to a data plan with Phoenix and you're away....The extra's are the interesting point.
Gryphon offer you for approx $3k training (agree probing you can probably do without and take multimedia at home) BUT the big thing they offer is access to a couple of unique Gryphon developed indicators which magically appear inside Phoenix called the "Early warning system" (EWS) and "Break Out Fast Indicator" (BOF). These are what you are really paying for. They add extra "lines" to your Phoenix charts indicating (supposedly based on complex maths and market depth/demand trends) when you should buy, sell or hold. These tools are not part of the standard Phoenix package and the only way you can hold of them is through Gryphon (even though they have clearly been created by both Phoenix and Gryphon techo's). I've got access to these on a trial basis at the moment and they seem to work pretty good in all the back testing I've done on a daily or weekly basis....certain shares I bought or sold previously at the wrong times were indicated by the software....but of course it then suggested when I should have which is backed up by the actual way the share price moved. The ONLY thing is I also want to use these indicators for Intraday trading and I haven't had as much success doing this. They only seem to work reliably on a share that is high volume, high volatility and not so well on your QAN's for example that move within a 4c band over a days trading. No indicators can be that good to pick those highs and lows....need a bloody crystal ball.
So the other indicator you can separately buy for Phoenix is the Nielson indicator. Not quite the same as it's based on more simple maths only related to demand/market depth changes during a day. I would love to test this one Intraday though as it might work quite well for quick trading.
Are using just the standard Phoenix software briter or do you have the extra Gryphon and/or Nielson indicators?
I don't know that the standard software is anymore advanced than CommSec Professional Trader or similar software other than maybe targeted searches you can do to find e.g. volitile stocks trading above a certain volume who fell by more than 3% today.
Any further thoughts?! I'm going to be asked to front up with some cash from Gryphon soon to buy their extra indicators (can't keep trial going forever unfortunately!). My back testing shows they would have worked for me previous but I'm still uncertain. Ability to assist usefully in intraday trading is still up in the air for me!!!!
