beginner trader: Are trading signals and bots worth it? - page 3.

iv4n

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Quote from: andthereyou on May 09, 2021, 03:04:07 AM

I think it's a bad idea to use trading signal and bots because it might hindered the learning process of a beginner. Maybe as a reference trading signal can be use. Remember that a trader should develop his/her own system that consistently made him/her money.

It's a bad idea to try something new with all-in! If you are trying something new with money you can afford to lose then why not?
Don't get me wrong here, I am not saying you should run for every signal, or to run any trading bot... first do some research about them, how trustworthy they are, did anyone else tried them... and if you like what you see, you should give it a try!
In crypto (and pretty much everywhere else) there are people who are honest and fair, and people who are just using everything they can for their own benefit! So everyone should be careful with new things, but bad things that can happen are not reason for not living a life!

andthereyou

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I think it's a bad idea to use trading signal and bots because it might hindered the learning process of a beginner. Maybe as a reference trading signal can be use. Remember that a trader should develop his/her own system that consistently made him/her money.

boyptc

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Quote from: cute nmp on May 08, 2021, 04:53:17 PM

Sometimes most of those signals given are wrong so it is better to use your own knowledge and experience to trade than relying on bots and signal groups.

Most of the time, not only sometimes.

Relying on signals won't make your trading experience better. But using some bots, I think if you're really liking it and that's helpful to your trading strategy, it will help you a lot.

Yamifoud

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Quote from: goaldigger on May 08, 2021, 05:30:37 PM

Quote from: cute nmp on May 08, 2021, 04:53:17 PM

Not all the time.As a new trader it is better to have the basic knowledge about market structure, technical analysis and sometimes fundamental before going into trading.Sometimes most of those signals given are wrong so it is better to use your own knowledge and experience to trade than relying on bots and signal groups.

If you’re going to start to trade, you must have a basic knowledge about it and don’t rely too much on Trading Signals and Bot because they are not accurate and in BOT it is still good if you’re going to input your personal strategy. Trading signal might trap you on top so this is not also an advice for newbies. Spend at least a month of learning about trading, it will be worth it for sure just dedicate yourself and time in trading.

Because the truth is that, it was useless acquiring trading bots that you never know how to trade. That certainly be going nowhere and just a waste of time and money. Because the reality is that these trading bots don't run on their own but it just relies upon us.
And talking about trading signals, pretty obvious that these people are just milking on us. It all just a simple prediction, they are not seeing what will happen next, and that is no reason why we have to believe them.

magneto

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Absolutely not.

These Telegram groups are simply pump and dump groups where the owner of the group ultimately benefits more than anything else.

The way they function is essentially a self-fulfilling prophecy - the owner first buys the coins themselves, before sending out the signal. People who see the signal then buy in and push prices up, and ultimately the owners cash out their positions for a handsome profit.

Passive income needs hard work to set up. If the trading signals do actually work, why would the owners share them with you at any price? Credit is dirt cheap right now.

goaldigger

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Quote from: cute nmp on May 08, 2021, 04:53:17 PM

Not all the time.As a new trader it is better to have the basic knowledge about market structure, technical analysis and sometimes fundamental before going into trading.Sometimes most of those signals given are wrong so it is better to use your own knowledge and experience to trade than relying on bots and signal groups.

If you’re going to start to trade, you must have a basic knowledge about it and don’t rely too much on Trading Signals and Bot because they are not accurate and in BOT it is still good if you’re going to input your personal strategy. Trading signal might trap you on top so this is not also an advice for newbies. Spend at least a month of learning about trading, it will be worth it for sure just dedicate yourself and time in trading.

cute nmp

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Not all the time.As a new trader it is better to have the basic knowledge about market structure, technical analysis and sometimes fundamental before going into trading.Sometimes most of those signals given are wrong so it is better to use your own knowledge and experience to trade than relying on bots and signal groups.

boty

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Quote from: ?? on ??

Quote from: fullhdpixel on May 02, 2021, 01:53:04 PM

Quote from: tvplus006 on April 30, 2021, 12:45:52 PM

In a bull market, all these trading bots almost always show a profit. But in the bull market, not only bots work with profit, but also beginners who have not yet gained enough knowledge about trading. The problems start when the market changes to bearish and because the bots can't trade short, they start working at a loss.

But in last two weeks we are not having strong bull run for bitcoin markets. I mean even we are having another good year for bitcoin markets currently, we are facing bearish trend also time to time. So, making use of bots cannot assure anything just because of bull market. You may assume continuation of bull market but market may turn bearish at least for very short period of time.

So, going for buying signals and trying for making use of bots just because of ongoing bull market, may not produce expected results. It is always better to go for our own technical analysis to generate our own signals so that we can trade manually without any need of bots.

the use of bots seems ineffective when at a certain time, for example during a price rally, it is feared that bots will actually give a sell signal, even though Fomo is happening at that time. I agree, it would be better if we use technical analysis

bot trading could not anticipate un predicted moment in market such as sudden dump, its only work on ranging or clear trend direction. and also using bot could not improve our skill in trading , we only depend on this bot algorithm which is we dont understand at all. manual trading always be best way for us if we want stay longer in crypto market.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Kong Hey Pakboy on April 29, 2021, 11:41:15 PM

Bots if they are used correctly can help you trade conveniently because you will not be actively managing your funds since you are using a bot that automatically does the orders and stop loss, it looks easy but you have to know how to tweak so you can use the bot's full performance and to your liking.

There is a craze among programmers to use a bot to automate trade. There is no difference in using a bot to day trade and gamble that same money. Whatever reasoning you do to explain one or the other, end result becomes same. Of course if you have a bot that is making your loads of money you would keep it to yourself instead of giving away your trade secret for years to come.

But the foolish newbies think that everyone can create such strategies when they only work in a 50-50 scenario. So they buy a bot, only to get ripped off their money.

So the bottom line is that if you wish to use a bot, use a legit one like Gunbot, or develop your own bot. Never put your trust on a bot that you bought from a shady site.

fullhdpixel

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Quote from: tvplus006 on April 30, 2021, 12:45:52 PM

In a bull market, all these trading bots almost always show a profit. But in the bull market, not only bots work with profit, but also beginners who have not yet gained enough knowledge about trading. The problems start when the market changes to bearish and because the bots can't trade short, they start working at a loss.

But in last two weeks we are not having strong bull run for bitcoin markets. I mean even we are having another good year for bitcoin markets currently, we are facing bearish trend also time to time. So, making use of bots cannot assure anything just because of bull market. You may assume continuation of bull market but market may turn bearish at least for very short period of time.

So, going for buying signals and trying for making use of bots just because of ongoing bull market, may not produce expected results. It is always better to go for our own technical analysis to generate our own signals so that we can trade manually without any need of bots.

Rengga Jati

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What kind of trading signal did you use or join?
Honestly, at first, I also followed a VVIP trading signal and also used the signals from the channel. I know that many members here don't believe in this kind of signal and better to analyze my own. However, as a beginner at that time, I really couldn't analyze the crypto market and didn't know whether how to analyze the chart of cryptocurrency.
And yeah, fortunately, I knew the owner of the signal group and I believe them so that I followed them. However, what I always learned from them is that "a signal or any kind of prediction or analysis will never be 100% correct, it will always own risks to use the signals, and we need to cosnider the risks"
Additionally, they also educated us about cryptocurrency, its fundamentals, hot issues, technical analysis, and others.
As a beginner at that time, it is very helpful for me.

And now, after knowing little about the way to analyse, I can use those signals in order to be one of the considerations to take the decision whether to buy or sell or hold certain coins in certain periods, combined with my own analysis.

geegaw

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Quote from: tvplus006 on April 30, 2021, 12:45:52 PM

Quote from: Kong Hey Pakboy on April 29, 2021, 11:41:15 PM

Bots if they are used correctly can help you trade conveniently because you will not be actively managing your funds since you are using a bot that automatically does the orders and stop loss, it looks easy but you have to know how to tweak so you can use the bot's full performance and to your liking.

In a bull market, all these trading bots almost always show a profit. But in the bull market, not only bots work with profit, but also beginners who have not yet gained enough knowledge about trading. The problems start when the market changes to bearish and because the bots can't trade short, they start working at a loss.

Indeed, the bull market guarantees a relatively high luck to most investors, from novice to experienced traders or bot users, choosing will always achieve a high degree of victory, which is the advantage but when market layouts and conditions change, decisions are suddenly redirected and inaccurate, even for good investors, they choose to escape while some of the bot users were constantly participating, an unnecessary contradiction and resistance to market trends, that proves the bots are not too special and worthy to invest

tvplus006

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To the Moon

Quote from: Kong Hey Pakboy on April 29, 2021, 11:41:15 PM

Bots if they are used correctly can help you trade conveniently because you will not be actively managing your funds since you are using a bot that automatically does the orders and stop loss, it looks easy but you have to know how to tweak so you can use the bot's full performance and to your liking.

In a bull market, all these trading bots almost always show a profit. But in the bull market, not only bots work with profit, but also beginners who have not yet gained enough knowledge about trading. The problems start when the market changes to bearish and because the bots can't trade short, they start working at a loss.

Kong Hey Pakboy

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Bots if they are used correctly can help you trade conveniently because you will not be actively managing your funds since you are using a bot that automatically does the orders and stop loss, it looks easy but you have to know how to tweak so you can use the bot's full performance and to your liking.

LUCKMCFLY

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Quote from: andriarto on April 29, 2021, 10:02:00 PM

Quote from: cryptolord2077 on April 29, 2021, 05:05:41 PM

Quote from: Vaculin on April 14, 2021, 06:49:35 PM

Quote from: cryptolord2077 on April 14, 2021, 06:15:48 PM

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Yes, it works, especially on an uptrend. A good group of signals is something like scalping, they tell you which coins will grow by 5-20% and you fix the profit in parts, 50% orders for 5% growth, 30% of the deposit for 10% growth, and so on. They tell you what coins, but not when. Thus, you need to wait, you can place an order today, and it will work in a month. I've never had enough patience. In general, I consider a group to be good if 60% of its signals hit the target, and the remaining 40% are closed by stop loss.

60-40 is already a good result for me. means we can still make money from trading activities. but sometimes for beginner traders they ignore stop losses, because they feel heavy hearted to do so. and in the end they failed in trading

A 60-40 can be something acceptable for many, but it must be borne in mind that the market will not be in an uptrend all the time, also if the majority that follows the signals put all their balance and trust the signals that they can. give a big failure. When novice traders trust signals, it goes into the statistic of 95% of traders losing in the market.

It is better for newbies to make a good plan based on technical analysis and fundamental analysis, it is better that by entering the market under their own analysis they understand the market better than with the signal analysis provided by a group, these kinds of things are named in a book written by Malkiel Burton called "A Random Walk on Wall Street" where they state that technical analysis based on chartism tends to fail most of the time, just like fundamental analysis, here it is analogous to the crypto market.

andriarto

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Quote from: cryptolord2077 on April 29, 2021, 05:05:41 PM

Quote from: Vaculin on April 14, 2021, 06:49:35 PM

Quote from: cryptolord2077 on April 14, 2021, 06:15:48 PM

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Yes, it works, especially on an uptrend. A good group of signals is something like scalping, they tell you which coins will grow by 5-20% and you fix the profit in parts, 50% orders for 5% growth, 30% of the deposit for 10% growth, and so on. They tell you what coins, but not when. Thus, you need to wait, you can place an order today, and it will work in a month. I've never had enough patience. In general, I consider a group to be good if 60% of its signals hit the target, and the remaining 40% are closed by stop loss.

60-40 is already a good result for me. means we can still make money from trading activities. but sometimes for beginner traders they ignore stop losses, because they feel heavy hearted to do so. and in the end they failed in trading

Kelvinid

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win lambo...

Quote from: cryptolord2077 on April 29, 2021, 05:05:41 PM

Quote from: Vaculin on April 14, 2021, 06:49:35 PM

Quote from: cryptolord2077 on April 14, 2021, 06:15:48 PM

snipped...

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Yes, it works, especially on an uptrend. A good group of signals is something like scalping, they tell you which coins will grow by 5-20% and you fix the profit in parts, 50% orders for 5% growth, 30% of the deposit for 10% growth, and so on. They tell you what coins, but not when. Thus, you need to wait, you can place an order today, and it will work in a month. I've never had enough patience. In general, I consider a group to be good if 60% of its signals hit the target, and the remaining 40% are closed by stop loss.

That is too bad to see. I have no such patience and neither to wait for that long, I'm wasting my time. Because even we say that 60% it works from their signals but for that long, I can't still imagine if that really works as the market price moves high and low. That just be a big coincidence, right?

This is to imply that signals are just a trick, these groups tell lies only. That makes no sense having them, they are not helping us but instead, they are milking new traders.

cryptolord2077

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Quote from: Vaculin on April 14, 2021, 06:49:35 PM

Quote from: cryptolord2077 on April 14, 2021, 06:15:48 PM

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Yes, it works, especially on an uptrend. A good group of signals is something like scalping, they tell you which coins will grow by 5-20% and you fix the profit in parts, 50% orders for 5% growth, 30% of the deposit for 10% growth, and so on. They tell you what coins, but not when. Thus, you need to wait, you can place an order today, and it will work in a month. I've never had enough patience. In general, I consider a group to be good if 60% of its signals hit the target, and the remaining 40% are closed by stop loss.

TastyChillySauce00

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Trading signals honestly are just speculation. I mean, what could anyone do without internal information regarding some projects and capital?. The market itself always choose some random coins to get pumped and these signals provider are too small to affect high market cap coins aswell.
Even if it's warren buffet that gives out the signal there's no guarantee that the trading signal gonna be correct and a trading signal that's 100% correct and always accurate are those signals that are created by pump and dump group which means market manipulation but of course they definitely gonna take advantage of the people who follows them blindly. But in the other hand could help you making some trade based on your preferences, bot in my opinion is worth it if you are like me who really getting tired of watching the market 24/7.

Vaculin

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Winding down.

Quote from: cryptolord2077 on April 14, 2021, 06:15:48 PM

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Topic: beginner trader: Are trading signals and bots worth it? - page 3. (Read 1064 times)