QUESTION - Thank you for taking the time to participate in the Q & A session. Would you like to share with everyone who you are, your background (current and previous career, education, etc).
I appreciate you taking in interest in who I am and what I am doing. My name is Brent Phillips and shortly after I left the Army, I decided that I wanted to pursue my passion for software engineering. Shortly, after I completed my Computer Science degree and started working. I then became really interested in trading. First is was stocks and then I discovered futures. One thing that kept happening to me over and over was that I would constantly think I knew better that the major players in the market. Short story, I did not! This was a costly mistake on my part. So, I decided to build a tool that would help keep me on the right side of the Bias throughout the day. This is how biasoftheday.com was formed.
QUESTION – For our readers who may not know. What exactly your company and app does, could you explain. Bias of The Day : Website https://bit.ly/3lVrhoY
When it comes to investing there is a term called Bias. This has several different factors to it but what I focused on the most was the three major indices. The Nasdaq 100 which is composed of 100 stocks, the S&P 500 which is composed of 500 stocks and the Dowjones 30 which is composed of 30 stocks. What my tool does is goes over all the stocks in each index and then does some calculations based on an algorithm and returns a bias percentage. In simple terms, it tells you what is happening to all those stocks in nice and easy way. For example, if the majority of the stocks in the Nasdaq 100 are selling off then it might not be a good time to buy.
QUESTION – Can you explain the need for the everyday trader to have the information your app provides (and at such a low cost I might add)
If you constantly buy or sell a stock/future and you are absolutely certain that its going to go your way only to watch it quickly reverse then you need this tool.
It’s not a silver bullet. It is just a nice and easy way to see the “mood” or “bias” of the market. It saves you the time and hassle of trying to figure all of that out on your own.
If used with good trading strategies and proper risk management it can help you trade with the trend and not against it.
QUESTION– Now some non trading questions. What personal or professional failure/setback have you experienced in your life that has set you up for this success?
Before I joined the Army I always believed that I wasn’t smart enough to become a software engineer. I have had the fortune of growing up with the internet and I was there
when it became widely available. However, the Army taught me to believe in myself and to have the confidence and discipline to make it. I have failed so many times that I no longer count. To me it is part of the process.
QUESTION : This is becoming a favorite question for many – plus readers get some good gift ideas from it. What purchase of less than $100 have you made in the past year that you simply could not live without now?
A New Headset! I have so many meeting throughout the day that I need a nice headset!
QUESTION – If you could choose three dinner guests dead or alive, who would they be and why?
Bill Gates – I just want to ask so many questions about how he thinks and approaches problems
Sylvester Stallone – I really need to hear “Yo Adrian” in person.
Any Founding Father – Just curious what they might think about America today.
QUESTION – Can you explain the markets today versus the markets from years ago, decade ago, etc. And where do you see it five years from now?
I haven’t traded the markets for that long. I have noticed that there are more and more trading bots for sale though. I see them everywhere and they always promise to make you a ton of money but they won’t. The future of trading to me is going to be the people versus the bots. Mostly it will be bots but I dont think people will ever stop trading.
QUESTION – What advice would you give to your younger self and to someone just coming out of school (college or high school)
Don’t second guess yourself!
QUESTION – What are your thoughts on cryptocurrency and will your app have any role in them down the road?
Crypto seems to be a hot topic at the moment. I don’t think it is going anywhere. I am not sure if I will add Crypto to biasoftheday or not.
QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.
“Think twice, code once”
QUESTION- Thank you for taking the time for this interview. How can our readers contact you, including on social media.
Website:https://bit.ly/3lVrhoY The best way to contact me is via https://www.biasoftheday.com Facebook https://www.facebook.com/biasofthedayapp Twitter https://www.twitter.com/biasofthedayapp Thank you so much!