19A – Idea Napkin No. 2

About Me: 

My name is Michael Almeida. I am 20 years old, and I am a Junior at UF. I am pursuing a degree in business administration with a specialization in finance. I have been trading in the markets since I was 15 years old. I opened my trading account when I was 18.I managed my parents portfolio when I was 16 and had a return of 140% over the past 4 years. I am very passionate about financial literacy taught at a young age. I love helping people financially. I believe everyone is going through their struggle, and if money is a problem, then it is a problem that can be solved. In my spare time, I stream live videos of trading, where people watch me and see how I trade. This is another way I make money. I want to revolutionize the trading world, especially the retail-traders who consistently lose money in the markets. I have connections to over 100 traders around the US who trade daily. I stream on twitch and currently have 96 subscribers who pay five dollars per month. 

What am I offering?

I am offering a product that analyses traders’ facial expressions as they trade to prevent any trades that are likely to lose money. This product is offered to all retail-traders who trade in the market, which is concerned with trading with emotion. The product will connect personally to the trader who is using the software. Not only is this product offered to retail traders, but to traders in huge hedge funds as well.

Demographics:

I am marketing my product to any all traders whose primary income is trading in the markets. As well as traders who biggest problem is getting emotional with their money while trading. Trading can be done anywhere. However, I would like to focus on US traders for my product primarily. In the beginning, I want to target smaller locations with the highest trading activity; for example, New York, Chicago, Boston, etc. Primarily, I would like to focus on customers who are associated with Stocktwits, so I can attract active traders. 

Why do they care?  

I believe that people, especially traders, whose primary income is in the markets, want to improve their ‘salaries’, their performance in the market. If there was any way to suppress their human emotion that is tied to their money, then I believe they would want the product. Every day a trader checks their account balance in their portfolio, and each day they may check several times. Every day they think of why it is that number, and they know the mistakes they made that resulted to where they are now. Most of those mistakes are emotion-based trading.

Core competencies: 

There is no product out there that connects personally to the trader. There may be some podcasts or articles that advise certain personality traits. However, it does not know the person’s trading habits. I have connections to many traders in the US who trade daily.

             I believe these five elements fit together nicely. My background supports the reason why I want to implement my product on the market. I have many connections that help grow the product, whether it may be diversifying facial expressions analyzed by the software, or marketing-wise. The demographics will solely focus on populations with the most trading activity to connect to the traders who need it most. Most importantly, I believe every trader, especially the ones living off their portfolios, want to increase their income. They want to better themselves while trading.  

Feedback Integration:

 I got some positive feedback from my recent post on my napkin idea. I incorporated performances that I had in trading. For example, the returns I had while managing my parents account and my won. I did this because they are pretty well notable achievements, specifically in trading. I also mentioned my streaming platform a bit more because it does relate to my business idea. I have a follower count, as well as a subscriber count of 96 who are active traders in the market. I also elaborated on my demographics, because I only mentioned a few cities. Including customers who are associated with Stocktwits will enable me to see which customers are active in trading.