Hello guys, I'm a new trader.I can't read Trade signals.So how to get Altcoin trading signals and altcoin news ?? which site/group/telegram channels best for info...??
The problem with any of these types of things is the information source will always be biased. Any sort of information you get for free will have a hidden motive. They're either trying to use their "group" of people to have more buying power to achieve a certain price with volume to become sort of some self-fulfilling prophecy or they are using the group to try to have a paid service.. or its simply free to get traffic for bounties and other things requiring large amounts of people. Since you don't really know the hidden motivation, nor that they have really any experience or just aren't quite frankly shilling their bags, you can't really reliably use any of this data. Even if it works 3-4 times, eventually they'll make a poor call or hook you into bag holding for them and you'll get stuck. Alt positions in a bear market are going to be on a short leash, and can turn south almost immediately if bitcoin turns on you (even in the middle of a pump).
Instead, I'd look up a few actual things that can help you with altcoin "signals" you can get from simply yourself.
1. Are you monitoring bitcoin while trading alts? If not, start immediately, you have to know what bitcoin is doing at all times.
2. Buy in corrections, sell in runups (short time frames if btc is temporarily dipping or large time frames for position trades, buy alts at the bottom and ride 6-8% profit up, dont get greedy here)
3. Don't buy too early in corrections. Anything with a large parabolic runup will have an extended ABC correction where C can be super long (I don't really like Elliot waves but its good to analyze corrections and where they can go using these basic principles). Do not catch falling daggers.. wait for a pattern to reverse out of and wait for confirmation. It's better to miss some of the bottom and it reverse over keep falling.
4. Don't hold alts for long periods of time.. I still maintain that the best way to make money in this market is by multiplying bitcoin. If bitcoin bull runs or fuds, you'll lose alt comparative if not more.
5. Ignore USD value, if you aren't gaining sats or eth (ugh I prefer bitcoin), then you are losing trades. USD doesn't matter unless you're cashing out right then.
In summary, avoid trade signal groups.. even if you gain 10 times in a row, you'll get burned eventually. People giving you free information have ulterior motives. Learn to master the art of alt coins vs BTC and tether's effect on this relationship, you'll have a lot more control, more success, and be less angry over time. Good Luck!