How My Financial Education Website Survived The Pandemic
This is a follow up story for Camelbacktrading 2724 LLC.. If you're interested in reading how they got started, published almost 6 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
Hi, my name is Paul Asmar. I started the company Camelbacktrading 2724 LLC 16 months ago.
It is a voice channel trading room where I provide up to the date analysis of how and why the market is forming that day.
The purpose is to teach traders how to learn to hunt and fish for themselves while avoiding the get-rich-quick schemes that many portray on social media.
Tell us about what you’ve been up to! Has the business been growing?
The business started strongly, helped by the fact that the pandemic cost many jobs and people started working from home.
I had approximately 215 traders signed up at one point. Since the start of August 2021, it has decreased to 145-150. Many reasons for this.
People have gone back to work full time in their offices. The market is quiet has also hurt business. Traders need volume and volatility on a consistent basis to be successful.
New traders also tend to fail the 1st time as they find their way. They need to know themselves and what type of trader they want to be. They need to know their competition and also the stocks that they are trading.
What have been your biggest lessons learned in the last year?
The biggest lesson I've learned is not to take it personally when traders fail. This business has a low success rate. My goal is to be way above the average for the traders in my room.
Short-term pain can lead to long-term goals.
Attitude, confidence, and perseverance are key in this journey. Being prepared for when the market becomes volatile again, and it will, helps all not to be lulled by this lack of action.
What’s in the plans for the upcoming year, and the next 5 years?
My short-term goal is to attract more traders to join our community. Success stories and referrals are key for that to be accomplished.
Longer-term goals are to start a weekly podcast, open up a trading academy wherein a live face-to-face setting traders are taught while trading in real-time.
Have you read any good books in the last year?
Podcasts by Anthony Crudele are a wealth of information for people in the trading world.
I enjoyed reading Atlas Shrugged which shows how delicate our freedom is. Also books on the Market Profile.
Advice for other entrepreneurs who might be struggling to grow their business?
First and foremost is patience. Things don’t happen overnight. Look outside the box. Social media such as Instagram and Twitter are huge advertising platforms. So is Tik Tok.
Sometimes you need to spend to make it so.
Short-term pain can lead to long-term goals.
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
