Better to have a trading knowledge than depending on signals. - page 4.

UchihaSarada

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Quote from: milewilda on June 26, 2023, 05:58:13 PM

Copy trades and those signals are still that notable in todays time on which there's still lots of people who do prefer on doing this and wont really be bothered on creating their own on which it would really be just that they would be simply doing those on what most people been doing

Use must use Copy Trade strategies with trust on people who made that strategy. But think does one strategy can succeed in all market conditions? I believe that you can not have such strategies in trading so using Copy Trade is very risky if you use it at wrong times when the strategy gives you bad trading results.

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Yes, its convenient since there's no much that you would really be doing but its not something that you could do forever. There's really a time that it wont really be that effective or not profitable or simply that someone had been stopped on providing signals.

Market usually has normal movements within price channels and after a while sometime it will have big changes to move up or move down. Those times are when most of trading strategies will fail and same for Copy Trade strategies.

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Then what would you do? Transfer out on other trader? You are really that putting your capital at risks

Don't trade is the best.

If you trade and win a lot after a while, it's good time to think of stopping your trades. Because market will likely move to a big changing time like a big up or down movement. If you close all your positions and only watch the market, you will be a winner.

TelolettOm

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Quote from: letteredhub on June 20, 2023, 03:39:33 AM

Trading in crypto could be a difficult task that not so many persons involved in trading do actually make the kind of profits people assume that traders might be making when compared to investors that are only into HODLing. As a crypto trader a lot of serial capacity building in knowledge is needed on a daily as it is a necessity for sufficient and profitable crypto trading journey.......

Ideally yes, of course before we do anything, especially trading that is indeed high risk, we must have a good understanding first. Understanding of trading is complex, not only on what coins, but also various analysis on market charts, fundamental analysis, and so on. Also, this includes an understanding of how to manage our emotions, risks and funds for trading.
Learning indicators and how the market is always moving is also necessary. So that at least we have the provisions to carry out this high risk trading activity. So, if you're not ready, it's better to study first.
regarding trading signals, in fact, this can be used as an aid for analysis, not for the only thing that is followed. So it can be for consideration and also ideas for in-depth analysis.

milewilda

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Quote from: Dr.Bitcoin_Strange on June 25, 2023, 05:48:11 PM

Quote from: TimeTeller on June 25, 2023, 04:56:48 PM

So far, I haven't encountered a really legit trading signal group that everyone talks about.
Let alone those paid trading signal groups. Most of them will exhaust your funds and you won't get anything from it.
Learn the basics, slowly acquire some tricks because experience will give you those tips.
Because even if someone is suggesting you to do such route, you won't understand up until you apply it in your trading activities.
Better be slow rather than in a hurry. You will incur big losses if you will not equip yourself on this market.

Although a few people have testified that they were able to make some profit through those signal and copy trades, I know it still doesn't put away the fact that a lot of those copy trades or signals that are sold are scams. If it were those days when I was really active in trading and on Telegram, I would get some DMs from most of those guys, requesting that I join their Telegram group so I could get free signals, but trust me, all those signals were bullshit. Even on YouTube these days, there are quite a lot of fake videos that will still refer you to a link to their course or signal group.

Copy trades and those signals are still that notable in todays time on which there's still lots of people who do prefer on doing this and wont really be bothered on creating their own on which it would really be just that
they would be simply doing those on what most people been doing.Yes, its convenient since there's no much that you would really be doing but its not something that you could do forever. There's really a time that it wont really be that effective or not profitable or simply that someone had been stopped on providing signals. Then what would you do? Transfer out on other trader? You are really that putting your capital at risks
considering that not all would really be that profitable with this kind of set up.Nothing beats out if you do have that own trading knowledge which it would really be giving out that kind of
advantage on the time that you would really be going for yourself.

Slow death

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there are people that it is very difficult to understand their way of thinking, how is it possible for a person to take their money that they got with a lot of effort and keep trading based on the signal provided by someone unknown, this is a great absurdity, and if that person that you provide these signs disappear how is the person who is depending on him? these people are left without a signal and are desperate, and that is if the signs that were given to them had any result because the truth is that they are not something reliable, it is not something certain.

just think if people are so good at predicting the price why are they creating signal groups and charging for subscription? Wouldn't it be easier for those people who charge for signals to take their money and trade without telling anyone? in my country and I need to have a license to be a financial advisor, but even so I have seen people from my country providing forex trading signals even though they are people without a license, I keep asking myself why the hell do people from my country fall for this kind of scam , they are following the signs person who also lives in my country. I see a very bad end for the person who gives the signals and those who follow him.

tvplus006

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Quote from: letteredhub on June 20, 2023, 03:39:33 AM

...As a trader that relies on buying signals, how confident are you about the continuous availability of those signals. Would they always be accurate and dependable? Heavily depending on signals is parallel to same thing as someone else trading for you with your money. How ironical!..

As a rule, buyers of signals are beginners who lack trading skills and knowledge about how the cryptocurrency market works. And after a while, when they acquire the necessary knowledge, they refuse such signals, because they understand that he can independently determine the level of buying/selling.

Finestream

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As a significant trader, one should always aim to improve his trading knowledge and skills because these are the best keys so you will be capable to trade successfully. Otherwise, if you keep relying on paid signals that you’re not even sure if those were actually made by professional traders, then you will only trade gambling your own money while seeing most of your trades losing. That’s why stay away from buying trading signals as they can never be trustworthy in the long run. It’s always your asset and skills as a trader that will make your forever profitable in your chosen career. While trading is very profitable but only for those who gained adequate knowledge and experience in the market that let them win their trades over an uncertain market.

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Quote from: Russlenat on June 25, 2023, 03:17:57 PM

Quote from: slaman29 on June 20, 2023, 05:42:25 AM

First of all, better to say what I've always said before, even before crypto, even when forex was new. Signals are not guarantee of profit. They CAN be useful if used together with strategy as a sort of alert to follow your strategy anyway.

Same thing for gambling, people sell all kinds of arbitrage tips and signals (like trading but with odds) and you won't make money if you blindly follow them.

Knowledge and strategies are certainly very useful in trading, as a trader can never be profitable if he only trade like gambling knowing nothing. Just like trading which greatly depends on signals, it can be profitable at some point especially if you are also knowledgeable and strategic at the same time, but trading relying on signals alone can never guarantee successful trading. The reason why a trader must be knowledgeable and skillful at first because that is a must when trading, otherwise we cannot expect trading to end up based on what we planned.

Half of your statement is repetitive but anyway, I have to sort of disagree with traders never being profitable if they gamble. A lot of traders gamble and became profitably in the bull run of 2017. That's why they thought they were good at it. They thought strategies worked, gambles work. But most people make money in a bull run, problem is not knowing when to stop and not understanding that they got lucky.

I think trading for commissions is the only true profit Tongue

omgitsmehehe

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Quote from: Viscore on June 25, 2023, 04:52:15 PM

Buying trading signals can be good and a lot helpful if you come up with the right providers. Otherwise, you are wasting your own money relying from those paid signals that are no longer effective. This is why having trading education is the best key to achieve success and profitability in trading. You need to mold the knowledge within yourself and hone every skill that a trader needs. That way, even if the market suddenly crash, at least you know how to back up your trades and still end up successfully.

Crypto signals are only important in cases were the trader or investor have no single time to create out to understand how the market operates, we all have what's keep us busy, always ready to aim higher on every level. Paying for signals is another way of paying for irrelevant services, bitcoin is the only project that seems to be prominent in the space accompany by Ethereum and other promising altccoins. Knowledge is power, and possessing one would mean mean diverting from the path of broke or struggles, rather focusing on the path to financial freedom.

Dr.Bitcoin_Strange

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Quote from: TimeTeller on June 25, 2023, 04:56:48 PM

So far, I haven't encountered a really legit trading signal group that everyone talks about.
Let alone those paid trading signal groups. Most of them will exhaust your funds and you won't get anything from it.
Learn the basics, slowly acquire some tricks because experience will give you those tips.
Because even if someone is suggesting you to do such route, you won't understand up until you apply it in your trading activities.
Better be slow rather than in a hurry. You will incur big losses if you will not equip yourself on this market.

Although a few people have testified that they were able to make some profit through those signal and copy trades, I know it still doesn't put away the fact that a lot of those copy trades or signals that are sold are scams. If it were those days when I was really active in trading and on Telegram, I would get some DMs from most of those guys, requesting that I join their Telegram group so I could get free signals, but trust me, all those signals were bullshit. Even on YouTube these days, there are quite a lot of fake videos that will still refer you to a link to their course or signal group.

Botnake

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Quote from: isaac_clarke22 on June 24, 2023, 10:37:55 AM

Quote from: letteredhub on June 20, 2023, 03:39:33 AM

Don't get me wrong. I am not condemning buying of signals perhaps it would be more accrue-able, profitable and less vulnerable for you if you're knowledgeable in crypto trading and decide adding up with buying of signals if need be. Learning about crypto knows no boundaries.

I learned more in applying my knowledge in trading back in the days. I think that's more than enough for everyone on what to choose between choosing signals or having a trading knowledge. Having signals would just be another pain instead of just going to do your own research.

In cases of tight assurance, I would guess that would be the best for buying signals though, but it shouldn't be like a habit.

Buying signals may bring a good advantage for beginner traders but that will never guarantee success in trading. The only way to make your trades successful and profitable is to acquire sufficient knowledge and develop your best strategies and skills as well so that even if you trade against the market condition, you will still have chances to overcome the loss. However, I don’t blame traders who also rely from paid signals, that’s also their strategy but it can be more reliable if they are also equipped with knowledge and skills when trading.

TimeTeller

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Quote from: Viscore on June 25, 2023, 04:52:15 PM

Quote from: EarnOnVictor on June 20, 2023, 07:50:55 AM

I will not totally discourage a trading signal, that's if a good one is located. There are some that could be trusted, and there are some copy trade programs that are worth joining. But the best is to learn how to trade yourself, after all, you will be using your own hand to lose not that someone would cause the loss of your money.

Still, the question is, how many people have time for trading or can profit from it? It's easy to trade and be successful in your imagination than being practical, which is why they are looking for external help, and I will not blame them.

Buying trading signals can be good and a lot helpful if you come up with the right providers. Otherwise, you are wasting your own money relying from those paid signals that are no longer effective. This is why having trading education is the best key to achieve success and profitability in trading. You need to mold the knowledge within yourself and hone every skill that a trader needs. That way, even if the market suddenly crash, at least you know how to back up your trades and still end up successfully.

So far, I haven't encountered a really legit trading signal group that everyone talks about.
Let alone those paid trading signal groups. Most of them will exhaust your funds and you won't get anything from it.
Learn the basics, slowly acquire some tricks because experience will give you those tips.
Because even if someone is suggesting you to do such route, you won't understand up until you apply it in your trading activities.
Better be slow rather than in a hurry. You will incur big losses if you will not equip yourself on this market.

Viscore

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Quote from: EarnOnVictor on June 20, 2023, 07:50:55 AM

I will not totally discourage a trading signal, that's if a good one is located. There are some that could be trusted, and there are some copy trade programs that are worth joining. But the best is to learn how to trade yourself, after all, you will be using your own hand to lose not that someone would cause the loss of your money.

Still, the question is, how many people have time for trading or can profit from it? It's easy to trade and be successful in your imagination than being practical, which is why they are looking for external help, and I will not blame them.

Buying trading signals can be good and a lot helpful if you come up with the right providers. Otherwise, you are wasting your own money relying from those paid signals that are no longer effective. This is why having trading education is the best key to achieve success and profitability in trading. You need to mold the knowledge within yourself and hone every skill that a trader needs. That way, even if the market suddenly crash, at least you know how to back up your trades and still end up successfully.

Ziskinberg

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Quote from: letteredhub on June 20, 2023, 03:39:33 AM

As a trader that relies on buying signals, how confident are you about the continuous availability of those signals. Would they always be accurate and dependable? Heavily depending on signals is parallel to same thing as someone else trading for you with your money. How ironical!

Signals can be helpful when you are just about to start learning how to trade but it doesn't mean that we keep ourselves fully reliant on it otherwise, we never learn anything. Well, I'd never participated in paid signal, might be a different experience when joining free signals but for sure nobody went successful in having this stuff. As I come to leave from asking for free signals in the group, I've found myself confident in every decision I've made and see better results compared before. Now I realized that it was better to have our own analysis rather than relying on others and besides, I am building confidence in what I do.

Russlenat

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Quote from: slaman29 on June 20, 2023, 05:42:25 AM

First of all, better to say what I've always said before, even before crypto, even when forex was new. Signals are not guarantee of profit. They CAN be useful if used together with strategy as a sort of alert to follow your strategy anyway.

Same thing for gambling, people sell all kinds of arbitrage tips and signals (like trading but with odds) and you won't make money if you blindly follow them.

Knowledge and strategies are certainly very useful in trading, as a trader can never be profitable if he only trade like gambling knowing nothing. Just like trading which greatly depends on signals, it can be profitable at some point especially if you are also knowledgeable and strategic at the same time, but trading relying on signals alone can never guarantee successful trading. The reason why a trader must be knowledgeable and skillful at first because that is a must when trading, otherwise we cannot expect trading to end up based on what we planned.

imamusma

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Trading signals are sometimes helpful, but sometimes they are fake. I don't always want to believe in trading signals because I tend to do my own analysis in making decisions. Paid signals sometimes also perform well because their analysis is done by experts, but they never guarantee consistent profits. I also tend to be more confident in what I do than what other people say. I am in charge of whatever risks I will incur in trading sessions, so I don't think relying on trading signals will make me more independent and solid in experience.

tjtonmoy

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I take signals as a way to learn, not to depend on it totally. It is a great tool for you to compare your own analysis with it and learn from it. If you think you are making a mistake on your analysis, you can double-check that with a signal provider and adjust your strategy based on that.
Human analysis or signal/bot analysis will always have flaws and not 100% accurate! Remember, the market runs on trading. It's other people's sentiments and their decision to buy or sell which moves the market. It could change at any time, thus making the market unpredictable. This is the reason why we can never predict the market with 100% accuracy.

Why should someone only depend on something else? Do it yourself and in that process you will learn something which will be beneficial for your future. What if one day, signals are gone! Out of existence. What will you do then? This is the time when your raw skills will come handy. As long as it's in your head, no one can take that away from you. And trading should be fun. But signals takes that away from us.

bitzizzix

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You need a lot of knowledge and experience to be a successful trader in the long run rather than just relying on signals.
and if you start trading without proper knowledge most likely you will suffer losses so I advise you to first understand and learn about crypto market then start trading with small capital once you have enough knowledge and confidence with your skills. You can trade large amounts and within your means, and once you have solid knowledge, you can also use signals only to help your trades get better.

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Quote from: jeraldskie11 on June 20, 2023, 05:12:00 PM

I lost a lot of money when I first started trading and didn't know what I was doing. I'm really stressed, and then I discovered a trading signal group to see if their signals work. When I back read, I noticed that their signals were functioning because they were posting it. It encouraged me to join, but I was still uncertain, so I extended my observation period, and then I understood that they were merely posting a signal that only works. And I'm not sure how many signals failed. That's why I made the decision to learn how to trade by participating in a mentorship program. I never regretted my decision because trading your own money is far better than depending on trading signals.

I also had a similar experience when I started trading cryptos it was a sad one because I got liquidated in few occasions while trading because I was trading via Cross and Isolated margin of course with a high leverage unfortunately I wasn't equipped with adequate knowledge and skills required to become a profitable trader, though I tried few of my strategies it's seems nothing works then, I also tried to follow trading signals unfortunately some of those signals is contradicting with my own, thereafter quit trading to learn all the necessary skills because from my research numerous hours of charting time and Price Action are some of the prerequisite needed to a become successful trader.

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Quote from: AnonBitCoiner on June 20, 2023, 02:08:26 PM

Trading knowledge is very necessary because signals not always work and as you buy signals so sometimes you have dual problems like your signals will be wrong so buying and selling will take place in wrong direction and your money will be wasted by buying wrong signals.

I think those who have complete knowledge does not have any need to buy signals because they are experienced and they know what should be your next step. Experts not always buy signals but actually they use their own mind which should be a better way of earning so try to learn by yourself so there will be no need of spending money on signals.

If we don't have a trading knowledge we will still not know how to operate a trading signal but both are not guaranteed that our trades are going to be successful because at the end of the day, we are only predicting here.

If we don't have a trading knowledge we will mostly rely on someone else signals but it's risky because like you said a signal can be misleading or we can end up joining a scam signal group. That will be a double loss for us because most of the times we need to pay for a subscription first to access them. This is why it's always better to learn on our own and if we are already knowledgeable, someone else signals will not make sense anymore to us.

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The argument is simple. A successful trader had to rely on tools at some point besides just the foundational knowledge of trading.
That's where the innovation of these signals come in.
Someone who depends on the signals first and then begin to trade, is either being self taught, plain silly or a millionaire with much money to spare.

Thank goodness for social media like Twitter and how it has helped those who don't have the tools, have access to the right information at the current time.
Get the knowledge anyhow you can, take few risk trade investment, use signals to do better after learning from errors during unsuccessful or loss trades. The wisdom is in knowing how to apply the knowledge.

Topic: Better to have a trading knowledge than depending on signals. - page 4. (Read 940 times)