Topic: Better to have a trading knowledge than depending on signals. - page 2. (Read 940 times)

Taking other's thoughts as guidelines and doing your own research on top of it can be a good idea, but relying totally on them is definitely not a good idea in my opinion too. Even if you join a signals group or subscribe to a service or something where you get signals from, you shouldn't just see the signals and go ahead straight into the market and make the trades as they say, you should first analyze the signals yourself and the coins and their buying and selling points provided.

To be able to do all that, one must definitely equip themselves with the necessary knowledge about trading and trading tools and techniques so that they can do the basic research and analysis about the signals they might receive or they might not even need them if they can do all that themselves.

You should really removed this kind of belief into your mind that there are people who are really that making out that sure money into this unpredictable market.Yes, there might be some profitable but doesnt mean that

they do make money most of the time. Its true that nothing beats out if you do have your own analysis and different taking on the market and not really just make yourself that depending on others.
I agree on some points on here is that on the time that you would really be making some losing trading positions and this is the result on what you've been following then that anger or rage would really be able to come out or mostly be felt because you could really be able to point out fingers on whose the one should really be blamed. Unlike when you do make your trades with your own ways and methods then you wouldnt
really be having this kind of reaction.

When you do commit errors then you would just basically be not that affected if it do came from your own analysis and methods which is totally opposite if you do follow or depend on someone.

I guess everyone has tried buying trading signals and I can say that not all of them have made profits after that. Simply because paid trading signals do not guarantee success. That is why traders should never be involved in trading if they will only rely for other people’s knowledge in trading. They should have their own knowledge and mastery in their skills to trade, even set their own strategies that will make their trades successful. That way, they will trade because they know how to deal with the market’s volatility and with their own knowledge and develop strategies in trading, most likely they will end up trading with profits rather than see theirselves at the losing end.

In this case, it will be a pointless waste of money, since in any case, the beginner will lose his money, even if he clearly follows the recommendations.If as a beginner trades independently, the result will be the same, but at the same time he will be able to gain experience and analyze the mistakes that led to the loss of the deposit.

Indeed, with trading knowledge and working strategy you can generate decent benefits, though it's not an easy way to create a good patterns but it is much better compared to lean with signals, most of the time signals are for those who react quickly if you react late or if you take your action in a late timing your chance of being trap or stuck is possible.

Trading knowledge is important if you are into this business for long-term process, instead of waiting for any sign you can anticipate your next steps because of the knowledge that you already possess.

Trading signals may not be often reliable especially that the market is very unpredictable and that the market is easily affected by different serious factors that hit it. The reason why trading knowledge and skills are of high necessity because these are the most reliable ways to trade in a market successfully and profitably. Most especially that trading is never easy and is quite complicated, and relying to trading signals will not guarantee successful trades. But with trading knowledge and working strategies in the market, trading will be highly profitable in the end.

Being lazy do really put up someone on a situation on which it wouldn't really be that wise or good for long term on which it would really be that sensible that you should really be
finding up ways on learning up something on your own without trying out to rely with others.Its not that bad to snip out some others idea but you should really be that mindful that it would really be worth if you do tend to learn up on your own because time will come that you would really be going solo and wont really be tending on following into someone.You would really be finding yourself to be that able to survive this market since you do already know on what you should gonna do compared to those who doesnt really tend nor have the plans on learning on their own.

Good thing about on having that own trading knowledge is that on the time that you would be losing a trade then you wouldnt really be having that feeling of regret because you do know that its your own error on which you would really be accepting it whole heartedly compared when you do lose up a certain trade because of others trade then it would really be creating out that kind of feeling
on which it isnt really that pleasant at all.Therefore, it would really be always preferred on losing with your own ways and strategies.

A lot of newbie traders are actually relying on signals alone and are not looking to make their minds work by doing their own analysis on top of what they already got from other traders. This is dangerous and also leaves the copy traders in a spot that might be the cause of them losing money in the long run. I myself am doing copy trades and get signals from other people, but I know a thing or two about trading that helps me to create informed decisions. It helps you understand why things are happening and what could be the possible movement from there just from the things that you know currently.

Been doing that lately since I don't know how to read charts and sometimes I get tired and lazy enough to check it. But the good thing is stop depending on signal groups, at first I even pay my monthly subscription but end up losing more money because sometimes the trader didn't check the market so keenly. In any of you want to learn to trade, better to have a basic knowledge rather than having nothing at all.

Joining signal groups would only result with upset in the end and you shouldn't do that at all. There is really nothing that would benefit anyone from any signal group ever, that's just not a solution at all. Too many people think that there could be a solution if they keep buying and all that but the reality is that you are not going to end up with a good result at all, it is going to be a terrible one.

I personally believe that the best thing about signals would be knowing how they figure those out, if you can find the way and not the path, that would be a lot better for you in the end. I think having your own "signals" is the way to go, you would be able to know what to buy and what to sell and that would be a lot simpler in the end.

Obviously yes, trading is very very difficult task. Signals are just for fooling peoples. Signals just provide you a very big idea that where is the action happening. After that you'll have to use your knowledge to make use to actually materialize the signals and actually make profit. So yes knowledge is very necessary for all the traders.

I think that’s normal for beginner traders to rely from paid signals since they are not well capable to trade and expect bigger profits. The rule is, no one should be trading unless he’s knowledgeable and skillful enough to trade, but newbies fail to follow this because of their greed and hunger to make quick profits. That’s why they resort into trusting paid signals and when they start losing, that’s when they realized that paid signals do not work and are not reliable all the time.

That's very much true. There is no easy money in this world, we have to make effort to earn it. In crypto the real effort is understanding the market and its fundamentals. Those who rely on Signals are the one who want to earn money without making any significant effort. There are not many success stories about investors getting rich via following Signalling group but there are countless stories about people losing money to these Signalling group. Its better to use your own mind rather then following these signalling groups since you will learn about trading in the long run.   

Aa a trader I have used technical analysis for over 5 years now. I visited a seminar on trading signals in the stock market organized by my university and bought a few books afterwards. Most financial assets move in cycles, there are bull and bear markets which can be identified by technical analysis. There are plenty of trading signals coming out of technical analysis than give a good indication if we should be buying or selling. I am confident that there will always be signals available we can use, the question is how reliable these signals are going to be. During times of high volatility in the markets we might see completely different signals by various indicators. The question than will be which we trust the most. Personally I find the short term trading signals the most unreliable and prefer to look at more medium focused indicators. These trading signals are always just a recommendation and I think that we also should focus on fundamentals to get a general idea of the current state of the markets.

I definitely agree.

I've experienced asking for a friend about his trading signals and I'm not satisfied with it, I mean the profits I was making since it's not always he's gonna give me trading signals. So I did some research, watched tutorial videos in YouTube, and trade on my own and I was happy with it, until my own laptop got broke and my internet connection in our are got pretty slow. So I quit trading for a while now, I'm just hodling and saving Bitcoin for now.

The point is that, trading on your own in the long run is much profitable than buying trading signals.

Actually there is no problem being in that group if the goal is to make comparisons or add some insight that can be used as material for discussion. but indeed sometimes this is a little misinterpreted where indeed when there are so many beginners who are in the signal group they are fixated as if it could be an advantage for themselves when following the signal given even though looking at the conditions, actually what gives the signal is also the results of the research they did and it's a 50/50 chance. But for those who follow them with faith and hope that they will definitely benefit and that's what's wrong.

We have to realize that in conditions like now nothing is free and of course it's very rare to see people giving signals to other people when they really don't expect anything because that's really not going to be possible.
When we really want to trade, indirectly we also have to try to learn it. nothing is simple and nothing can be obtained simply with instant capital from other people because basically we only stand by ourselves for this kind of thing.

They are really just that simply lazy and they do really like those things to get involved without exerting much effort or not really that much doing such work on which it would really be just that normal
that to those people who are really eager to learn would really be having that advantage later on time which to those who have not would really be still remaining as a noob in terms of trading knowledge.
There are really just those people who cant really be able to think up properly on what are the things should really be done for you to be able to learn up  trading on your own. Its not bad on following someone but you should really be obliging yourself to learn up on your own because on the time that you would really needing to go alone or you havent been following someone then this would really be the best time that you would really be testing up the knowledge that you had gained up earlier.

People who depend on trading signals without the patience to acquire the proper crypto trading knowledge are those who would lose a lot of money. Any people would agree that knowledge comes first and cannot be replace by something else. This is a personal thing though, but you spend or waste a time looking for trading signals to follow on telegram. You end you learning nothing, losing money. In summary any trader who does not know about fundamental and technical analysis coupled with trading psychology and risk management shouldn't even dare think about trading signals.

If you depend on someone else signals or someone opinion there is a high probability that you will burn your capital in a matter of time, can you win big by depending on signals and someone's analysis? the answer is yes but remember that trading is about possibilities and there is always a high chances of losing. Once you became dependent on someone else decision, your mind will be closed to learn new things, skills and knowledge. In the end you will be a parasite that will destroy yourself, I'm really against on joining on signal groups or depending on signals by some self proclaimed "best investor/trader".

It is really better if we will learn on how to trade by ourselves because in this way we will become independent and we can have confidence to execute our plans without help of someone else and also without the signals of others. Remember that there is no successful trader who depends on signals by someone else, their common traits is they plan, trade and execute by theirselves.

One should never rely only on signals, I would even say that traders should do their own trading with their own analysis and everything because you have your money on the line and you can't just risk it because someone else gave you a signal, even if someone wants to use signals, they should at least learn to trade themselves first so that they can check the authenticity of the signals provided because these signals are not always accurate.

So it is obviously important for someone to learn to do at least basic analysis and chart reading so that they don't lose their hard-earned money using signals from people who are earning money by them and don't really care if the users using their signals lose money or gain profits.