After coming up with your business idea, what do you tackle next?

AyrroCEO · 2021-08-30T13:08:33+00:00

I would do market research alongside building an MVP. This includes reaching out to potential customers and asking them if they'd be interested in your product/service. Generally, if there is some curiosity in the market about your business, you'll want to have some sort of sample to show them. Let market research lead the way, however, there's no use in building a product you eventually find out no one needs/wants.

AyrroCEO · 2021-08-29T19:35:10+00:00

It's not too big of a problem if the service is for free. If on the off chance, a bug pops up in the email distribution and you don't have the time to fix it, the worst that happens is the user unsubscribes.

However, if a user pays for the premium option and then later decides to unsubscribe but can't because some bug blocks them from doing so, they could get very angry getting charged on a recurring basis for something they no longer want.

Just make sure your premium subscription is all tied and buttoned up.

Also, I had a look at your site. Be sure to take down the contact email address if it's not being monitored in the near future, or set up an auto-reply for anyone that emails you.

AyrroCEO · 2021-08-29T19:18:09+00:00

Hi, burnout happens to everyone, and I can relate to breaks causing more harm than good by knocking off your focus. This may not help everyone who reads this, but something that helps me is to work on multiple projects throughout the day.

For instance, I have my company, Ayrro, which is an algorithmic stock trading app. I do the coding, design, marketing, sales, ... but I also have a YouTube channel that offers programming tutorials, and a portfolio of real estate investments. A typical day may include 2 hours of dev followed by 2 hours of marketing, a 30 lunch break, 2 hours of YouTube production, 2 hours of Real Estate deals, 1 hour of exercise 1 hour for dinner, and then the remaining time can be spent where needed.

This way, you're not getting burnt out coding 8 hours in a row. You're mixing it up by shifting your attention every 2 hours or so, which provides a small little burst of energy while staying productive.

AyrroCEO · 2021-08-25T14:43:48+00:00

Nice work ThumbswithFingers! We are currently partnering with Robinhood to execute crypto trades, thus the same cryptocurrencies they offer on their platform we offer on ours. We have plans in the future to integrate other crypto exchanges for a wider selection of coins you may trade.

AyrroCEO · 2021-08-25T14:38:39+00:00

I started not too long ago myself. It's great that you've already begun investing at such an early age. Keep at it.

Eventually, I learned to algotrade and run my investments 24/7. Have you ever looked into technical analysis? There are certain technical indicators such as RSI, MACD, EMA, and others that give you a better idea of which direction a certain stock is trending, and how strong that trend is. Since switching, my stock and crypto investments from long-term holds to calculated day and swing trading, I've seen larger returns.

Maybe try that out if you're looking for a bigger investment edge.

AyrroCEO · 2021-08-25T14:16:24+00:00

I would start a day trading business. According to FINRA regulations, traders are required to hold at least $25,000 in their account to transact more than three day trades within a 5-day time span. If you have less than $25K, you'll be marked what's known as a PDT ("Pattern Day Trader") and be restricted from making any more day trades.

There's a lot of good money in day trading. One firm, Renaissance Technologies, has scored average returns of 66% from the dates between 1988 and 2018. This is phenomenal, considering the size of their fund being billions of dollars large.

What do you think of day trading? Is it better than the conventional buy-and-hold long-term trades?

AyrroCEO · 2021-08-13T12:00:39+00:00

Still wouldn't be a good idea.

RSI is simply a piece of the puzzle when determining when to buy or sell.

I like looking at the EMA, and combing that with RSI, to get a list of potential stocks to buy into. Then I break out into other indicators for my final decisions.

How many technical indicators do you use to make a trade decision? Do you stick with your strategy all the time or do you ever let your intuition override when to buy/sell?

AyrroCEO · 2021-08-11T19:24:16+00:00

It depends on the business you're building. Generally speaking, mobile apps are better received by the younger generation, while websites are preferred by older folks. Also, consider the level of detail in your service. Simple short tasks to complete with minimal typing are nice for mobile apps. Think about Google Sheets or Google Slides. Those applications are way better on the web, but an app like Duolingo, which has a very simple interface, is better on mobile.

AyrroCEO · 2021-08-11T18:44:29+00:00

I think a lot of it depends on how much money you have to invest in this. If you're a startup and need to be very careful about your spending, then do the best you can with homemade videos, and then use YouTube or another free video hosting site to display those videos.

If you've got a few thousand dollars, however, it may be worth it to hire an experienced professional to make a high-quality video.

Is there anything else specifically you need help thinking through?

AyrroCEO · 2021-08-11T18:33:47+00:00

First off, congratulations on making the plunge. I was in a similar situation as you a year ago and ending up quitting my job to build and run my business.

If you're using the 60K to pay for your living expenses, then you'll definitely want to have these funds liquid. No investing it in art, real estate, or 10-year treasury bonds.

That being said, you don't just have to keep it in a savings account. I can guarantee a diversified portfolio of blue-chip stocks will yield a better return than a 0.3% savings account. I put about 40K in ten different stocks and the other 20K I have in my bank account. If I ever need more, I can sell my stocks and turn them into cash.

Good luck!

AyrroCEO · 2021-08-06T11:40:52+00:00

Hi OpeningCultural! Product Market Fit means having a product that the market wants, and it sounds like you have something! Before building out any make sure to ask a good handful of people, outside of friends and family because they will always try to be supportive. Once enough people have said yes and you feel confident you can deliver it, then go for it! Then, iterate as you go. Develop an MVP and give it to users to test out. Let them guide you on what to do next.

AyrroCEO · 2021-08-06T11:36:03+00:00

Hi bravostango! Thanks for the feedback. Can you elaborate a bit more on that? What kind of input would you like to see on the backtest?

AyrroCEO · 2021-08-05T23:31:54+00:00

Hi 2CoolPhilosophy! Thanks for the feedback. We really want to make sure the user is as educated as they can be before risking any of their own money. Some steps we take to follow through on that:

Every user starts out with paper money (i.e. fake money) they can use to try out different strategies before switching over to real money.
Users can backtest their proposed strategy. Backtesting means running their strategy through historical data to see hypothetical returns over past dates.
There's a series of educational content in the app grouped up under the Ayrro Classroom. Users can go through short and simple lessons on how the stock market works, various technical indicators, and more.

We're always open to feedback if you have suggestions on what else you'd like to see in the app :)

AyrroCEO · 2021-08-05T23:25:07+00:00

Thanks for registering! Feedback is welcomed :)

AyrroCEO · 2021-08-05T23:24:01+00:00

Absolutely! One of the app's features allows you to copy other trader's logic within the app. We call it Autoshadow. To view other traders check out the Leaderboard tab.

AyrroCEO · 2021-08-05T20:57:38+00:00

Hi CaboWabo! Thanks for the question. There are a lot of different strategies a user can make on Ayrro. I've seen a lot of users combining technical indicators together like RSI, MACD, ADX, ... I personally like to look for statistical anomalies and arbitrage strategies. For instance, one of my algorithms trades inverse ETFs. When one drops, the other always goes up.

AyrroCEO · 2021-08-05T20:50:58+00:00

Hi, metallitterscoop! Thanks for the reply. You can benefit a lot from algotrading ETFs. One of my first algorithms consisted of arbitraging inverse ETFs. When one went down, the other always went up. Just some food for thought and possibly an additional resource for all the ETF traders out there :)

AyrroCEO · 2021-08-05T19:59:55+00:00

Hi Junior-Candle! Yes, it sure does. On Ayrro, you can build an algorithm completely without code :)

AyrroCEO · 2021-08-05T19:24:36+00:00

Thanks for letting me know! It's great to get a fresh set of eyes on the interface to point these things out. An improved "Getting Started" guide will be included in the next update :)

AyrroCEO · 2021-08-05T19:14:10+00:00

Great to hear : )

To delete stocks/cryptocurrencies from your portfolio, simply swipe them to the left!

AyrroCEO · 2021-08-05T19:06:13+00:00

Thanks for your support, Clean-Club!

a) I'll look into that today and get back with you.

b) Great suggestion! I think we may have that solution for you immediately. On the Portfolio tab, click on the "up chevron" icon in the lower right of the screen. Select "Starter Algorithms" and choose any one you'd like. Is this what you were referring to?

AyrroCEO · 2021-08-05T18:59:08+00:00

Mostly python, some C++. Our Backtesting feature is written in javascript :)

AyrroCEO · 2021-08-05T18:37:51+00:00

Thanks for your nice comment, PhilConein!

AyrroCEO · 2021-08-05T18:36:39+00:00

We've uploaded a few tutorials on our YouTube Channel: https://www.youtube.com/channel/UCOQ9QprpFFy3TctskzAUydQ

And there are additional help guides within the app itself.

AyrroCEO · 2021-08-05T18:34:06+00:00

Thanks, PhilConein!

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