How this entrepreneur revolutionized day-to-day trading, leveraging AI and data analytics
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Trading is often misunderstood not only by beginners, but also sometimes by semi-professional traders. Many try to break into the world of trading to have a steady stream of income, but end up with little success. Although there are exceptions, it’s usually not without reason. Although one hears many stories about what it takes to be a successful trader, it is not always luck or happy accidents, but rather the experience of accessing useful data and the right set knowledge of how markets work.
Serial entrepreneur Muhammad Haider banked on these fundamentals and embarked on his journey to create Tradytics, the AI-powered and data-driven trading toolkit.
In the words of Haider, “We believe that everyone should be empowered enough to tap into the infinite potential of stock trading. That’s why we launched Tradytics, a platform where knowledge is accessible to anyone who wants to take the control of its finances.”
Haider has always been fascinated with building technology-based businesses that positively impact people’s lives. In his words, “Growing up, germinating an idea and bringing it to life was alluring. But the aspect of building incrementally and successfully executing the plan was always the most exciting part.”
Haider’s first venture started in 2015 when he founded Dukan Walay, an e-commerce portal. He exploited it for a few years, then decided to dive into the world of new technologies. Fascinated by the allure of artificial intelligence (AI), he began to learn the finer details of the craft. Subsequently, he had built an AI-backed automated design platform called DesignwithAI in 2019. The product won rave reviews from the public and allowed users to create beautiful logos using the AI. The startup was incubated in a high-tech business incubator and won applause in business circles.
During the COVID 2020 pandemic, Haider decided to build something with his expertise in artificial intelligence and finance that could in turn help people make effective decisions in trading by giving them powerful FinTech tools.
With the mission in mind, Haider spent the early months of the pandemic building Tradytics. Tradytics is a Platform which basically uses the power of data analytics to offer live market updates, swing trade, intraday updates, crypto dashboards and many other services to its clients. Offering many useful mechanisms that traders could actively deploy to formulate effective trading strategies, Tradytics grew into a million dollar company in just one year.
Haider believes his biggest advantage is putting customers first before everything else. In the words of Haider, “I love my customers because I believe they are the most valuable reviewers who provide an objective evaluation of my products. So I always prefer to launch the product in the market and collect customer feedback to fine-tune the product for And I do this before I even build a full-fledged product development or sales team. On the one hand, this ensures external validation of the product on its own, and on the other I can find the right path to continue development in the right direction and save valuable time.” Following this philosophy, Haider initially built the platform single-handedly with his expertise and when it reached a respectable degree, he brought other employees into the business.
Journey of the Tradytics
The main reason for Tradytics’ success was Haider’s ability to solve the problem at its core and develop a pragmatic, technology-based and customer-centric solution. In the words of Haider, “Knowledge is the most crucial thing that people try to acquire by any means and that is where most fail. Knowledge is important without a doubt, but the acquisition of knowledge knowledge is what people should seek, not knowledge from any source. But the fault is not entirely on people because there are an overwhelming number of sources and it is easy for anyone to who to get confused and worse, to be misinformed. So my goal was very clear from the start – to give people the right know-how and activate them with the right set of tools.”
The platform is used daily by more than 39,000 traders and more than 3,500 users pay for the premium subscription. It has also integrated premium bots on a multitude of Discord servers to acquire more users.
Regarding fundraising for his business, Haider remarks, “I’m very traditional in fundraising. I prefer startup to external seed fundraising because I think as a entrepreneur, I have to validate the product first before everyone else and the best way to do that is to get started. This strategy in turn facilitates effective and useful fundraising. Till date, Tradytics is started and it’s already become a million-dollar business without raising a penny from investors.”
Haider advises fellow founders to keep their eyes on the target and not get lost in the spotlight of early success. He also says it’s relevant for founders to pivot at the right time and not be fixated on a single idea.