Topic: Better to have a trading knowledge than depending on signals. - page 8. (Read 940 times)

Of course it is way better to have the knowledge than waiting for signal to decide on. The knowledge in itself is however only justified by the right application.
Joining communities of like minded traders, following news and listening and reading articles can very much improve ones trading knowledge that it becomes very easy to follow the guts when trading.

The knowledge also helps a lot to save one from scammers who pose as buyers or sellers inorder to swivel you off your funds, but you having gotten the right knowledge and terms and learnt the tricks to catch a thief will soon learn that trading is beautiful with much gains.

Knowledge itself is helpful but not enough. You must practice, if you don't practice, the knowledge you learned can not help you. From knowledge to practice is a long journey and you will need lot of time for practice to master what you learned. If you don't manage capital well, you will lose all capital in practice.

Traders must be independent in their thinking and decisions. Joining signal groups, receiving signals and depending on signals and groups are not good. If those signal deliverers are right with their analysis, you get profit but oppositely you will lose capital.

In addition, many people will buy coin before you receive those signals. They can be those signal group owners or members of internal groups and you will be like liquidity provider for those people to take profit more easily.

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 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.

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.

Yeah close to that, like you pulling the trigger at the instructions of a commander behind you. I think signal patronizers are not really interested in the act of trading, to them the act is boring and they want to quickly go in for the profit. They go through this risk and not concerned with the losses if it comes. Maybe there is a set of class of traders like that, that only do copy trading while they invest their time in other businesses.

Exactly, this is what i have in my mind from the start about these signals because at start i thought why we should give 20$ per month to a stranger to whom we only know via Youtube, and tryst our valuable money on behalf of there signals. But then i thought many people are doing it and they are sharing some of there VIP member's profits too in the group. So i thought i should calculate there signals's accuracy manually.

Well, by doing that, i have narrowed down some good signal provider, who not only provide the signals but also provide the back story of it, which is really good. Making money and earning both at the same time is what i meed and they are providing. But still i do not know why i hesitate to join them, maybe because they have asked us to come with a capital of 500$ if we want to start trading in spot.

Because till now, i have not manged to save that much money which i could risk. So from now i am just ignoring this and trying to learn on my own and tbh when you have a person (experienced one) near you, you grow faster. So i prefer there is nothing bad in following signals which tells the backstory of that signal too, but there is no benefit in following the signals with no background knowledge like why we are doing it and why we should set these target what premises are we calculating it on.

As a trader, you will need the full knowledge and experience from learning how to trade coupled with other trading indicators that could help you fastrack your trading experience and the required informations needed through the use of those trading indicators or signals, if we can afford buying some there's nothing bad while most are there for free, however we are to note this that the use of these indicators are not a guarantee means that we must have a positive trading experience by all means, we are expected to reminis on different data and statistics to arrive with a desirable outcome.

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.

But, a wrong trend I observed among some group of crypto traders is that of a framework of so much interest in paying for trading signals stead of taking the pain in keenly learning  to build a robust knowledge about crypto trading.

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!

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.