Better to have a trading knowledge than depending on signals. - page 5.

Quidat

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Quote from: AbuBhakar on June 24, 2023, 12:32:13 PM

Quote from: Huppercase on June 24, 2023, 12:20:05 PM

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.

It's absolutely wrong and a bad practice to engage in signal, it makes a trader to be lazy without focus, it makes trader become unanxious of its trades, it make a trader become over dependent and the zeal to learn becomes a problem, once they are used to that practice of signal, it also becomes too difficult to convince them about the self trade practice and personal knowledge, this is why any trade that is willing to trade and plans to stay long in the game need to avoid free and paid signals, most of the time you may not make anything from these signals if you calculate the average trades in daily, weekly or maybe monthly.

I think you are describing a squammy trading signal that you can often see on public channel on telegram. Premium trading signal is different because they provide analysis in both TA and FA for the user to analyze themselves and decide if they will enter on not. The advantage of using premium signal is you will save time browsing coins that has a buying signal indicator since your subscription will do it for you. It will not make you but will cut you some time on browsing to the bunch of altcoins available in the market.

Self trade is not but it’s very hard to enter in the right coin if you are doing it by yourself due to the quantity of the choices available.

Well, you are right into this on which if you are on a subscription then it would really be saving up your time on making up some research since the one would be making is the one you are following
which it is really that convenient but this one would really be having its toll because you would really be ending up on being that too dependent. You cant really be able to make it on your own on the time that you would really be deciding to go solo. There's really that an advantage for you to be on these vip groups or paid or whatsoever but this is really just that in exchange of being convenient.
But if you are that someone who is really that not having that interest on spending some sub fees then you would really be going into your own path which it isnt really that hard.
We know that information that we could really be able to know is really just a few clicks or taps away, somewhat it would really be needing that effort but its not something that you would
really be making yourself that exhausted and its all for free.

goaldigger

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Trading should be learned by your own mind and have a good strategy on your own because this can bring you on a good place while depending on signal will just make you money in short term but in long term you’ll ended up losing the money as well. I don’t know why many sacrifices this instead of learning on their own, we should realize the importance of having a great knowledge about trading. I prefer to trade on my own, learn from my own mistakes than to depend on any signal.

Dzwaafu11

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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.

I have a friend who disputes my claim that traders earn more money than investors, but I made it clear to him that I believed this to be untrue and told him to test their claim for themselves and see how it goes for crypto traders. However, it still surprises me when people think that traders make more money than investors. While some investors can gain money after investing for a long time, others may do so in just one month, it is very rare to see traders achieve the same results. This is because traders lose more money than they make, whereas investors can only invest and wait for their money to return with a profit. So

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!

However, depending on a signal can cause a crypto trader to become lazy because they will constantly be waiting for the signal to work, which I believe sometimes they may experience a very big lose. As a trader, depending on a signal is like sitting down and risking your money by letting someone else take it off. Although these signals are not as reliable as using your brain to conduct the proper analysis and obtain the desired results, this does not mean that traders cannot use signals; rather, they cannot be used in the manner that some people believe they should be used.

SOKO-DEKE

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Sincerely, trading with personal experience is much more effective and trustworthy than relying on signals.Because many of these signals aren't always trustworthy, buying it sometimes just a waste of money because many people that do buy signals are complaining they don't always profit from the signals they receive. So what's the use of buying a signal if you're not sure if you'll make money from it or not?Get signal is not awful, but the truth is that it is unreliable; however, with personal experience , one can determine whether the signal is good to use rather than whether it is poor. Infact it eagerness to make quick money always the causes solidly rely only on signal.

AbuBhakar

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Quote from: Huppercase on June 24, 2023, 12:20:05 PM

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.

It's absolutely wrong and a bad practice to engage in signal, it makes a trader to be lazy without focus, it makes trader become unanxious of its trades, it make a trader become over dependent and the zeal to learn becomes a problem, once they are used to that practice of signal, it also becomes too difficult to convince them about the self trade practice and personal knowledge, this is why any trade that is willing to trade and plans to stay long in the game need to avoid free and paid signals, most of the time you may not make anything from these signals if you calculate the average trades in daily, weekly or maybe monthly.

I think you are describing a squammy trading signal that you can often see on public channel on telegram. Premium trading signal is different because they provide analysis in both TA and FA for the user to analyze themselves and decide if they will enter on not. The advantage of using premium signal is you will save time browsing coins that has a buying signal indicator since your subscription will do it for you. It will not make you but will cut you some time on browsing to the bunch of altcoins available in the market.

Self trade is not but it’s very hard to enter in the right coin if you are doing it by yourself due to the quantity of the choices available.

Huppercase

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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.

It's absolutely wrong and a bad practice to engage in signal, it makes a trader to be lazy without focus, it makes trader become unanxious of its trades, it make a trader become over dependent and the zeal to learn becomes a problem, once they are used to that practice of signal, it also becomes too difficult to convince them about the self trade practice and personal knowledge, this is why any trade that is willing to trade and plans to stay long in the game need to avoid free and paid signals, most of the time you may not make anything from these signals if you calculate the average trades in daily, weekly or maybe monthly.

KingsDen

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It is not everyone understands the charts;
It is not everyone that is willing to take the pains of learning;
Some people wants it the smart way;
There is nothing wrong with signals if it produces results;
Even if it fails sometimes, we understand it's the nature of crypto;
The bad part of it is when the user has zero knowledge of trading;
But for a good or an amateur trader, signals can help because you already understand what is happening in the market;
For a total novice trader, signals isn't where they should start;
Both trading by oneself and using signals, people lose money;
So, everyone should choose what works for them.

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Quote from: wtsimis on June 24, 2023, 09:41:50 AM

Having trading knowledge is much more beneficial than relying only on trading signals. Maybe you entered a trading signal with some money or some signals worked for you but it doesn't give you any knowledge about trading. A sudden failure of this signal can lead to serious loss of your assets. To become a professional trader you must acquire crypto knowledge. Trading signals are often generated by third-party services. You can analyze the market yourself by knowing the trading principles, market dynamics analysis techniques etc. well and then come to investment decision. One must strive to make investment decisions based on one's own skills and gain one's own confidence and valuable skills.

If a trader continues to rely on signals, then when will they advance and when will they have good knowledge? because I see that most people like that are people who just want to be comfortable, in the sense that they don't want to try but they want to get benefits.
I will not blame traders like that, because it is their full right. But I only regret it when they can't develop later because they continue to rely on signals. The failures that we achieve through our own analysis can be a lesson for the future, we can know why we could lose and what went wrong from our analysis, and that can be greatly improved. Meanwhile, what experience will we get when we fail to follow the signal? we don't know what is the reason why our entry is wrong, because we don't do analysis and just follow.

isaac_clarke22

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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.

wtsimis

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Having trading knowledge is much more beneficial than relying only on trading signals. Maybe you entered a trading signal with some money or some signals worked for you but it doesn't give you any knowledge about trading. A sudden failure of this signal can lead to serious loss of your assets. To become a professional trader you must acquire crypto knowledge. Trading signals are often generated by third-party services. You can analyze the market yourself by knowing the trading principles, market dynamics analysis techniques etc. well and then come to investment decision. One must strive to make investment decisions based on one's own skills and gain one's own confidence and valuable skills.

irhact

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Quote from: Dr.Bitcoin_Strange on June 23, 2023, 03:03:14 PM

Those that depend on trading signals will lose a lot of money on crypto trading unless they have some basic knowledge and skills already and only want to try out how accurate other strategies that are advertised out there. But for someone who is new to trading and only wants to rely on paying for signals, it's likely to result in a lot of losses because you might not even know if the signal you get is correct or wrong. And the facts here are that most of those signals that are being advertised online are just scams trying to rip traders off their money,

Trading signals are for only individuals that just want to make money from the market without gathering any knowledge they'll need for future trades. We have those that have made millions from copying other traders but this individual aren't real traders. They don't gain any experience or knowledge but are still making money. It's very rare to have a legit source to rely on their trading signals as most of the ad you see online are scams.

If you want to be a profession trader you have to ignore those signals groups or those pump and dump groups as they're of no benefit to you. You might make money but what happens when that channel is no longer functioning, you stop making money and can't trade yourself.

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Quote from: danherbias07 on June 21, 2023, 05:44:36 AM

I'd prefer it that way. I respect those who think they are making profits out of buying signals, it might be doing good for them. But I know a lot more people that are scammed this way.
So why not just learn it instead of asking what to do next? You save some money and maybe a headache. Leaning on something or someone else will not do us any good in the long run. What if they are suddenly gone? What weapon do we have afterward?
It's not like we are losing every day in trading, we fall then we learn. The experience will always be new. That's my point of view on how to do things when I realized that crypto trading is not something that is idle. It will keep on moving, upgrading, and changing, so we just have to adapt to it.
Having someone telling you what to do next is not adapting, it's called relying. There will be a point in our life where we cannot rely on anyone anymore.

I agree, people who are learning something all by themselves is a better thing and should be considered a big deal, I personally would love that to happen as well as hoped for and should be considered a good job. I know people are not approaching this subject like it would make sense, but that is the reality and if we want it to make sense then we need to make sure that we are at a good level and can do as well as hoped for without relying on anyone.

I think it would be very important considering how it is not that easy to make that much profit. Realize that you need to learn yourself, and not rely on anyone is the number one thing anyone should do, that's the trick of it, everyone would do a lot better that way, and should be considering it a lot easier to handle.

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Quote from: bitgolden on June 23, 2023, 10:44:43 AM

Quote from: shivansps on June 22, 2023, 06:18:28 AM

Quote from: Natalim on June 20, 2023, 08:10:58 AM

That was bold and clear to understand OP. I know signals could help but not to the point of relying on them because they are just good at first but in the long, it was not helpful anymore and the people who got involved with this will benefit the most while the trader will get losses and less knowledge.
- if we want to improve and succeed in trading, therefore, we have to stay away from these signals instead, do it on our own. Because it was easy to do TA when we have knowledge of the market and most especially in trading where profit can be unlimited. Unlike in the situation where we just rely on others' ideas and our future relies on them as well. If they fail, we fail the same.

I agree with you. Often, people use successful signal advertising to attract new customers and advertise successful trades, keeping silent about unsuccessful ones.
Of course, we can use these signals, especially when there are explanations for these signals and we agree with this. It's better than blindly following someone without understanding what's going on. I'd like to say that there is a difference when you follow the signals without understanding trading or when you already have experience

Signals are basically a way of making money for the people who give them, and that's the biggest trouble. Most people trust these signal givers and pay them money, and those people who share signals do not even have to trade, they just share the signals and get paid for it. They could be super wealthy today and not need something like that if they actually made money.

Think about it, they are getting paid a lot of money most of the time or at least they want to be, and if they are actually good at what they do, after first few thousands, use that to become a millionaire, if you can't then you shouldn't expect anyone else to be neither.

Having on that sense that if they are really that a good trader then they wouldnt really be minding or wasting up their time on letting others be their followers and paying up some commision or some fee just for those

signals and with that alone then you could assume out that they arent really that good eh? Cheesy

. Even myself if i would really be reaching into a point on which im a profitable trader then i wont really be bothering
myself on having that kind of spending of my time on handling or letting other trader who would really be following me. If its free then its not bad for a beginner to make some considerable peek up with those trading analysis or styles on which you could copy on but you should really be wise on learning out of those steps because not all the time those traders would really be there forever.
Its impossible that you cant really be able to formulate for yourself about on those trading strategies on a specific period of time.

It all matters about your mindset and perseverance of learning trading because if you do lack of this then you wouldn't really be seeing any progress into your career.

Dr.Bitcoin_Strange

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Those that depend on trading signals will lose a lot of money on crypto trading unless they have some basic knowledge and skills already and only want to try out how accurate other strategies that are advertised out there. But for someone who is new to trading and only wants to rely on paying for signals, it's likely to result in a lot of losses because you might not even know if the signal you get is correct or wrong. And the facts here are that most of those signals that are being advertised online are just scams trying to rip traders off their money, meaning they are not going to make any profit out of those trades. I will just advise traders to endeavor to learn how to trade by themselves rather than just relaying on signals online; perhaps you don't even know how professional the person giving those signals is.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Fivestar4everMVP

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The fact fact remains that most traders will always opt to buying of signal, it's mainly due to laziness though, trading requires time and effort, you wake up in the morning, you don't just jump into the market and start buying and selling coins, you first of all have to watch the market, look at the news, analyze and compare patterns, plus a host of others vices to make sure that you make the best decision of what to buy or sell and at what moment.

Many traders don't have the time for all that ive mentioned above, most especially those who have a major work they are doing aside trading, those who trade as a side hustle, this type of traders clearly would never have the time required to trade on their own without help from other traders, and this is where they feel need to buy signals from those who they presume to be professionals - not trying to justify buying of signals though, but this is the reality.

bitgolden

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Quote from: shivansps on June 22, 2023, 06:18:28 AM

Quote from: Natalim on June 20, 2023, 08:10:58 AM

That was bold and clear to understand OP. I know signals could help but not to the point of relying on them because they are just good at first but in the long, it was not helpful anymore and the people who got involved with this will benefit the most while the trader will get losses and less knowledge.
- if we want to improve and succeed in trading, therefore, we have to stay away from these signals instead, do it on our own. Because it was easy to do TA when we have knowledge of the market and most especially in trading where profit can be unlimited. Unlike in the situation where we just rely on others' ideas and our future relies on them as well. If they fail, we fail the same.

I agree with you. Often, people use successful signal advertising to attract new customers and advertise successful trades, keeping silent about unsuccessful ones.
Of course, we can use these signals, especially when there are explanations for these signals and we agree with this. It's better than blindly following someone without understanding what's going on. I'd like to say that there is a difference when you follow the signals without understanding trading or when you already have experience

Signals are basically a way of making money for the people who give them, and that's the biggest trouble. Most people trust these signal givers and pay them money, and those people who share signals do not even have to trade, they just share the signals and get paid for it. They could be super wealthy today and not need something like that if they actually made money.

Think about it, they are getting paid a lot of money most of the time or at least they want to be, and if they are actually good at what they do, after first few thousands, use that to become a millionaire, if you can't then you shouldn't expect anyone else to be neither.

Patrol69

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God has given equal knowledge to all. If everyone is created with equal knowledge then why should we rely on other's signals. Why can't we trust our talent? Why can't we experience from the person whose signal we follow? We have to try. Mount Everest can be conquered if you try.

Many of us have enough knowledge about trading but we can't apply our knowledge in trading just because we don't believe in ourselves. When we go into trading ourselves, we think maybe it will be better to take someone else's signal and he might have better understanding of the market than me and then create a signal. It is completely wrong idea in our mind. First we have to believe in ourselves. Only by believing in ourselves can we refrain from relying on others.

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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!
.

Paid signals are nothing but manipulation and scam so never rely on that even if someone offers the service for free cause it's impossible for anyone to predict the future and anyone will common sense can get that. Instead of buying signals paying attention to enhance our trading skills like analysis, finding the right strategy, looking for price difference on exchanges, etc can make some actual money for yourself.

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Quote from: savetheFORUM on June 23, 2023, 12:24:33 AM

Quote from: shivansps on June 22, 2023, 06:18:28 AM

Quote from: Natalim on June 20, 2023, 08:10:58 AM

That was bold and clear to understand OP. I know signals could help but not to the point of relying on them because they are just good at first but in the long, it was not helpful anymore and the people who got involved with this will benefit the most while the trader will get losses and less knowledge.
- if we want to improve and succeed in trading, therefore, we have to stay away from these signals instead, do it on our own. Because it was easy to do TA when we have knowledge of the market and most especially in trading where profit can be unlimited. Unlike in the situation where we just rely on others' ideas and our future relies on them as well. If they fail, we fail the same.

I agree with you. Often, people use successful signal advertising to attract new customers and advertise successful trades, keeping silent about unsuccessful ones.
Of course, we can use these signals, especially when there are explanations for these signals and we agree with this. It's better than blindly following someone without understanding what's going on. I'd like to say that there is a difference when you follow the signals without understanding trading or when you already have experience

I don't think it's too difficult to learn trading and reading charts, anyone with the ability to understand technological terms and reading charts can be able to learn how to trade cryptocurrencies or how to use indicators to get a general prediction about the price movements of certain cryptocurrencies, so it's definitely better to do that instead of following someone else's signal by paying them money for that.

It is your money and you should be the one utilizing it for trading, whether you get profit or face losses, you will be the one to be blamed for that and believe me, it never feels the same when you have a loss because of yourself and when you face a loss because of someone else.

I understand you perfectly. Losing money because of yourself is not the same thing as losing money by trusting someone. I repeat that there are different signals, from different people, but no one can give you any guarantees. And if someone gives you guarantees, then this is a sign not to mess with him.
So if it would be easy to learn how to trade (!!!!) and read charts there, then everyone would have become rich a long time ago, but this is impossible, if someone has earned money in the market, then someone else has lost it. Probably it's not only about graphics, numbers, and several books and crypto-tutorials

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Quote from: Aanuoluwatofunmi on June 23, 2023, 01:04:02 AM

Quote from: Jocuserious on June 22, 2023, 12:44:57 PM

If you are a smart traders then you Shouldn’t buy trading signal service. Every success hand of learning so that's why we should Learn more for increase our knowledge. If you have lot of experience about how manage trade then no need back look and keep your work continue and make profits everyday.

I don't see a reason why they should buy a trading signal service if they are really food at trading, some have been thinking of the using of trading bot to me more effective than the normal way of trading through personal experience but yet they have nothing much different from what others are also having through their personal experience, some steps taken in this were just nothing but a waste of money.

Having these tools will help us learn about trading but we should stop thinking that this will lead us to success. Because what I notice is that those traders who succeed had carried themselves alone, not by relying on others' ideas like signals and trading bots. It was their own strategies, hard work, and patience. But why some are preferred to get used to these signal groups and bots - because they want instant success and are too impatient? And sad to say that they had fail and most of them are leaving crypto.

Topic: Better to have a trading knowledge than depending on signals. - page 5. (Read 955 times)