Topic: [For newbies] Should you follow signals for trading? Newbies, have a look here! (Read 91 times)

thank you for your kind information

Signals generally are data analyzed based on past behaviour of the market trends and there are always likelihood this trends might repeat itself if certain candle stick formation occur at a specific point in every trend. I might not condemn the use of signal if it is not done in total isolation except it is used solely as a key strategy then it becomes a way of gambling. No one is perfect at predicting the market trend so this signals can serve as a confirmation or a reevaluation to an existing strategy anything outside this is tantamount to personal risk.

I tried my best to explain them above. I'm sorry if I was unable to provide a good explanation. These are my experience, what I gained as a newbie trader.
And i think it is important to learn chart, graph, support before you can run past to use signals. That's what i tried to tell. Learn the basic and then make your self familiar with those things. That way newbies won't jump straight to signals. Because everyone is after easy money. Correct me if i'm wrong

What signal are you talking about? You main signal from paid group?

Except you mean not to patronize pay group and pay money to them because some are fake but signal itself is the way to understand how market can move and you can get signal by yourself with your indicators, chart, graph, support and resistance measurement, candlestick base on your strategy. All those are signal providers.

Meanwhile, are those words your personal efforts? Otherwise you have to provide link or source.

YES and Also NO.

Many of us newbies, like me, are now in this platform trying to make money by trading. But not knowing the actual risk involved in trading. Although you can make a living with trading in this market, it is important to know the risks too. There are ups and downs in every situation. Also bad and good too. Trading is fun, but also a reason of sorrow for those who doesn't understand what trading really is. Today, I'm not here to talk about that. But you can do your research on them to learn more. This one is dedicated to only newbies. Professionals can ignore this or if I'm wrong in any information, be sure to leave your thoughts on that and correct my mistake.

So now let's talk about Signals.

What is signal, to be more precise, What is crypto signal?

Depending on the market's movement, people analyze the previous data available on the market and using that they can predict the next market movements, if it will go up or down. Although it's not 100% accurate, it could provide some decent results. You also have to keep in mind about the risks.
There are many people out there giving you free services of their analysis. I advise you to stay away from those free services. Keep in mind that you need to have deep knowledge about the market in order to provide accurate signals. This is hard work in my point of view. Why would someone share their hard work with you for free? Remember, Nothing in free. You have to pay something to gain something. In this case, TIME. So to be honest, this is a work of a group of scammers.
They will encourage you to put money in some shitcoin projects and the scamming group will control the market. Show you the up market that they created with their money and make you buy it. The second you buy the token, they will sell their end of bought tokens and make more money by scamming you. So it is safe to stay away from those signals groups. Study and learn market movements by yourself and analyze the chart for your own signal creation.

Should you use signals?

This is a tricky question.

I think it is safe to say that you don't use them. Because previous data doesn't provide or decide the next market movements.
Always look at the market as it is now. Make your analysis based on current market situations.
Try to study and learn as mentioned above.

Now, for those who are not mostly active on trading but wants to start from somewhere.
Here's what I think will be wise to do.
There are lots of paid signal bots available on the internet. Do some research on them and try to understand what they do. Bots are programmed in such ways that they should give us at least 90% accurate signals. But as far as I know & think, every machine could make error. Machine errors and human errors are everywhere. Use them at your own risks.

So lastly what I want to say is, you may use them if only you understand what they really do and also the risks they involved.

You may find other posts about this topic in the forum. I advise you to have a look at those too. You can never learn enough.
Forgive me if I'm wrong anywhere in this. These are just my thoughts here. Do your own research on anything and everything you do. Never trust anyone.