If you must follow or use the services of trading signals providers

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Quote from: Renampun on November 02, 2023, 03:29:48 PM

Quote from: alastantiger on August 19, 2023, 01:38:24 AM

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make use of or follow trading signals channels or services. What is your opinion?

For now I don't really believe in signal groups or the like, I'm sure they only want to take advantage of weaknesses/inabilities in trading, trading with own minds is the best so far in my opinion because they are able to make decisions independently, I've forgotten, but there is a well-known telegram group that includes a professional trader, he often shares information there, I often use every prediction he makes as a reference, Using trading signals for some people really helps them but in the long run it is not good.

There's no wrong if you listen to some trading signals from a trusted friend or from a reliable group, but applying it to your own trades is already a different story. Know that what other traders' trading signals that work for them may also work for you. You have to not imitate but develop your own trading signals that's best for you trades and that will only happen if you learn trading on your own and from you varied experiences and mistakes in trading.

Trading signals provided from certain groups have no guarantees that they will be successful on our trades. They are not to help us but to take advantage of our funds. We should have known that earlier so that we won't end up falling on their traps.

Renampun

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Quote from: alastantiger on August 19, 2023, 01:38:24 AM

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make use of or follow trading signals channels or services. What is your opinion?

For now I don't really believe in signal groups or the like, I'm sure they only want to take advantage of weaknesses/inabilities in trading, trading with own minds is the best so far in my opinion because they are able to make decisions independently, I've forgotten, but there is a well-known telegram group that includes a professional trader, he often shares information there, I often use every prediction he makes as a reference, Using trading signals for some people really helps them but in the long run it is not good.

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Quote from: Assface16678 on November 02, 2023, 12:42:55 AM

When I'm a beginner in crypto trading, I also used to follow signals, and I'd say it didn't and did well at some points. What I mean is that sometimes their signals are not on point because their trade is not suitable for mine in terms of my equity, as I only have limited equity to trade. I did well because sometimes their trade is on point or I earn from it. And because of that, I don't want to rely on signals anymore, as I want to earn by using my own analysis and chart mapping. In short, I don't want to rely on them. Even now, I still look for signals, but only for reference; I still always follow my own.

You are right. Trading signals didn’t work every time as wanted, and sometimes there is some analysis that you will do yourself and get profit, but if you use trading signals, you may lose. However, most of these things still depend on how reliable your signals are, and maybe your experience has gone far in your trading journey. So now maybe the reason why you didn’t enjoy it at that time is because you were new in the industry, so you lack the main knowledge by then, and without the knowledge, you will not be able to use signals correctly.

Even though I know signals make traders lazy to learn more and do the needful, sometimes they still help, but it cannot happen without the fundamental knowledge of trading, which is when we will be able to set them up well and work properly for us.

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Quote from: cheezcarls on October 25, 2023, 06:14:21 PM

Ain't a fan of trading signals as they are not accurate and doesn't guarantee anything at all.

At first I give it a try from a Polish colleague of mine who is a foreign expat. I visited his house in a subdivision within the central Philippines where I stayed at least a few times. He show me his trading room full of monitors where he's trading both stocks and crypto.

As I have learned about his trading signals and encourage me to try follow his calls, I give it a try provided that I only risk amounts that I can afford to lose for every call he had in his Telegram channel.

Based on my experience, it's not worth it. Despite I've won like 10% to 20% of the time, but overall I've lost a lot in my short and long positions of certain crypto pairings that he called. Then he even introduced me to his "VIP signals" in which I should be paying for a ridiculous monthly subscription or so.

That's where I slowly distance myself from him and never came back to visit him ever again every time I travel there to the central part of the Philippines.

No matter if it's free or paid signals, it won't promise or guarantee us profits. It's much better for us to self-learn about trading like reading and mastering the charts, TAs, etc.

Others signals or even your own analysis is never been accurate and there's no thing that would really be that precise specially into this market considering the market is really that unpredictable and totally random.
There's no one that could be able to make out that on point calls on where it would be going on which considering that the market moves on random basing up on the demand and with those market makers
in between buyers and sellers on which there's no way that you could really be able to make yourself that precise predictions in the first place. Also just like what you have said that never ever in my
trading or investment career on taking up some advises or getting those signals yet i do always consider myself on making one and sticking with it. Somewhat there are really moments on which i dont really
make myself that going solo and consider out on taking up some ideas with others and snipping it out and applying it for myself.

Its not necessarily that you would be needing to put up something but to consider out that combining ideas and methods would really be that something that much better
rather than on making yourself that too restricted or really that mattering on sticking on your own ways.

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Quote from: Assface16678 on November 02, 2023, 12:42:55 AM

-snip-
Because there are a lot of signal providers that only aim to have an investor or get paid, and the free signals they give are cheap signals, which we understand because they are free, it's so hard to find legitimate and accurate free trading signals. That's why it's better to learn and execute your own analysis.

You will never be able to find free, accurate, and legitimate trading signals, even though the premium signals will not find accurate ones,
there will definitely be errors on some of the signals provided.
Just remember how this kind of signal practice is run by people with many communities to get a lot of profit from new investors who do not understand anything about real crypto trading.

Self-study to master the science of trading is the best choice.
Do not jump on a platform that you have not mastered, because you will not know how the platform works.

Quote from: Best-mary on November 02, 2023, 09:57:58 AM

Exactly or even still, if they are occupied and won't have the chance to look at every trade, they could make use of these exchanges Binance and even bitget known for their copy trading to get what they want. All these paid signals sometimes ain't real

You can take advantage of the copy trading feature on Binance or Bitget, but you also have to know how to use it, you have to know how the trade works.
And choose traders who have good experience with a good portfolio.
Paid signals are only a place to make profits for the signal owner and you will only receive a lot of risk.

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Quote from: Oshosondy on August 19, 2023, 03:05:38 AM

The best that a trader can do is to never depend on signals. The best thing that a trader can do for himself is to learn, have knowledge and experience about trading even if he wants to use a signal or not.

As for me, I do not use signal because I know that the signal providers are only looking for ways to enrish their own pocket and nothing more.

If a trader follow the right thing to do in trading and is not greedy, he will make money from it.

Exactly or even still, if they are occupied and won't have the chance to look at every trade, they could make use of these exchanges Binance and even bitget known for their copy trading to get what they want. All these paid signals sometimes ain't real

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When I'm a beginner in crypto trading, I also used to follow signals, and I'd say it didn't and did well at some points. What I mean is that sometimes their signals are not on point because their trade is not suitable for mine in terms of my equity, as I only have limited equity to trade. I did well because sometimes their trade is on point or I earn from it. And because of that, I don't want to rely on signals anymore, as I want to earn by using my own analysis and chart mapping. In short, I don't want to rely on them. Even now, I still look for signals, but only for reference; I still always follow my own.

Because there are a lot of signal providers that only aim to have an investor or get paid, and the free signals they give are cheap signals, which we understand because they are free, it's so hard to find legitimate and accurate free trading signals. That's why it's better to learn and execute your own analysis.

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Signal providers get money from the members mostly not from their trade. I do believe they trade only using a small margin just to show the percentage of profit to lure some of new users.
Tho Im not say all the signal provider is fake because some of it are made profit and educate their member to not depend on signal but it is rare case.

the thing is if you have a signal provider try to understand why they made the decision to take the position. Like I said some signal provide tell the user why they create that decision not just plain entry tp and sl without any trading view related.

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Quote from: cheezcarls on October 25, 2023, 06:14:21 PM

Ain't a fan of trading signals as they are not accurate and doesn't guarantee anything at all.

At first I give it a try from a Polish colleague of mine who is a foreign expat. I visited his house in a subdivision within the central Philippines where I stayed at least a few times. He show me his trading room full of monitors where he's trading both stocks and crypto.

As I have learned about his trading signals and encourage me to try follow his calls, I give it a try provided that I only risk amounts that I can afford to lose for every call he had in his Telegram channel.

Based on my experience, it's not worth it. Despite I've won like 10% to 20% of the time, but overall I've lost a lot in my short and long positions of certain crypto pairings that he called. Then he even introduced me to his "VIP signals" in which I should be paying for a ridiculous monthly subscription or so.

That's where I slowly distance myself from him and never came back to visit him ever again every time I travel there to the central part of the Philippines.

No matter if it's free or paid signals, it won't promise or guarantee us profits. It's much better for us to self-learn about trading like reading and mastering the charts, TAs, etc.

I couldn't agree more. For the reason that the main purpose of trading signals is just to serve as your guide, but it does not necessarily mean that you will have to follow it and do what it exactly said. Because at the end of the day, everything is still up into you and you're going to decide for yourself.
There's nothing wrong with utilizing trading signals, but we also have to use it wisely. I don't think that fully depending on it would be a great idea, because you're not allowing yourself to think critically and allow yourself from making decisions about your trading. Maybe if you are a beginner, you can try using it as your guide, but you do not have to prolong your usage of it. It's fine to make other call as your basis in your trading habit, but do not let it decide for you.

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Quote from: cheezcarls on October 25, 2023, 06:14:21 PM

No matter if it's free or paid signals, it won't promise or guarantee us profits. It's much better for us to self-learn about trading like reading and mastering the charts, TAs, etc.

That's the straight fact with the vip signals they call. No matter how good it was advertised by a friend of yours, they're not guaranteed at all.
They may sound optimistic and that but, you'll never know if you won't try. But the good thing is what you'll hear from those people that have actually tried it and discourages people to step on it.

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Quote from: poodle63 on October 25, 2023, 06:29:54 PM

...thats why many newbie would just either go full relying on signal or simply follow copy trading, more convenient, no need so much commitment and investment to learn something new for them...

The problem is that there are no 100% correct signals, otherwise everyone without exception would use them. Why trade at a loss, which without exception happens to both experienced traders and beginners, if you can pay $ 100 and get a profit of 1000? But it doesn't happen that way. In order for someone to get a profit, someone else must fix the loss.

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Quote from: tvplus006 on October 07, 2023, 12:07:48 PM

Every beginner is faced with such a dilemma, to spend money on training or to spend money on signals. And despite the fact that the choice is obvious here, many still follow the second path and obviously this comes from excessive laziness to learn something new.

spending money for experience or basically training to trade, is sometime can be resource exhausting though therefore why many would prefer spend for signal
because they don't need to do the hard work of analysis from scratch, just follow some signal and call it a day.
thats why many newbie would just either go full relying on signal or simply follow copy trading, more convenient, no need so much commitment and investment to learn something new for them.
but of course this will be detrimental in the future, but if they don't really plan on making career in trading in the first place i guess thats fine.

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Ain't a fan of trading signals as they are not accurate and doesn't guarantee anything at all.

At first I give it a try from a Polish colleague of mine who is a foreign expat. I visited his house in a subdivision within the central Philippines where I stayed at least a few times. He show me his trading room full of monitors where he's trading both stocks and crypto.

As I have learned about his trading signals and encourage me to try follow his calls, I give it a try provided that I only risk amounts that I can afford to lose for every call he had in his Telegram channel.

Based on my experience, it's not worth it. Despite I've won like 10% to 20% of the time, but overall I've lost a lot in my short and long positions of certain crypto pairings that he called. Then he even introduced me to his "VIP signals" in which I should be paying for a ridiculous monthly subscription or so.

That's where I slowly distance myself from him and never came back to visit him ever again every time I travel there to the central part of the Philippines.

No matter if it's free or paid signals, it won't promise or guarantee us profits. It's much better for us to self-learn about trading like reading and mastering the charts, TAs, etc.

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Quote from: FahriZah on October 07, 2023, 12:48:36 PM

I'm following some trading strategy for my best services and i joined some telegram channels for trading signals which one short term and which one long term and what is for the holding all everything ideas provided to us many telegram signals channels.

Of course you can take advantage of it - but in any case you should not depend on other people when it comes to making trading decisions. Learn to do your own analysis instead of paying someone else to predict things for you - that's wise advice for you to consider.

From day one until today - I have never used any service to get trading signals. Paid or free is equally bad for my knowledge development - meaning I tend to push myself to learn instead of hoping that other people's analysis will bring benefits to me. The conclusion is - learn analysis, it is more reliable.

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I'm following some trading strategy for my best services and i joined some telegram channels for trading signals which one short term and which one long term and what is for the holding all everything ideas provided to us many telegram signals channels.

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Every beginner is faced with such a dilemma, to spend money on training or to spend money on signals. And despite the fact that the choice is obvious here, many still follow the second path and obviously this comes from excessive laziness to learn something new.

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Quote from: alastantiger on August 19, 2023, 01:38:24 AM

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make use of or follow trading signals channels or services. What is your opinion?

In my own opinion, this is more like saying its best you even learn how to provide the signal for your self, because if you put in all this work you are to do all together, its probably what they are doing too RESEARCH, READ, and GAIN the KNOWLEDGE . Rather than to waste it in trying to investigate how come about the signal, and their past presentation or RESULT

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most times you wont have access to analyze the performance in their VIP signal group. the one that is available to all is only the free group where they will mostly drop highly promising signals so they can get you to feel like thats how the VIP group is and then you pay to join. Even in the VIP group, some will delete their lost trades especially the telegram guys and leave mostly winning trades so when you join you will think its all bed of roses. i will say once you join a VIP group and you are experiencing losses then you should stop taking the trades to protect your capital. if you manage to find a truthful and profitable signal group then you will enjoy it and earn some money as well.

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Quote from: doomloop on September 06, 2023, 03:33:10 PM

Quote from: inthelongrun on August 26, 2023, 03:34:49 AM

It is good that we have a lot of members here who love to give advice about trading. And it is also true that as much as possible we also have to study and understand the signals that we are trying to follow.

But I also wonder if you guys are very good traders. Grin

My last trades always started with a profit but then again, it only needs one bad trade and all profit will be wiped out. Maybe trading is not my luck since it's always been my fate when it comes to trading. But maybe it will change next year once we are in a bull run.

You probably need to learn more and practice your skills before you get involved in trading if you lose all your profit with just a single loss, it means that you are not doing something right. Maybe you should learn about risk-management techniques that can save you from excessive losses and even if a trade doesn't work in your favor, you won't lose a significant amount and this can be stopped using a well-placed stop-loss for every trade that you open.

And one can never be perfect. You can't even expect the experts to have all their trades getting success because profit and loss are parts of the process just like a win and a loss in a game. So, you might win one day and lose the other day, but that should make you stronger for the next game.

Traders need to accept the obvious truth, they are going to lose many trades during their careers, and if a single loss is enough to wipe them out then they have no business trading at all, a good trader will instead have mechanisms in place to protect themselves in the case of a loss, like a stop loss and a small position size in order to counter this, and once you have learned how to do this then the chances you could become profitable long term will greatly increase.

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Quote from: inthelongrun on August 26, 2023, 03:34:49 AM

It is good that we have a lot of members here who love to give advice about trading. And it is also true that as much as possible we also have to study and understand the signals that we are trying to follow.

But I also wonder if you guys are very good traders. Grin

My last trades always started with a profit but then again, it only needs one bad trade and all profit will be wiped out. Maybe trading is not my luck since it's always been my fate when it comes to trading. But maybe it will change next year once we are in a bull run.

You probably need to learn more and practice your skills before you get involved in trading if you lose all your profit with just a single loss, it means that you are not doing something right. Maybe you should learn about risk-management techniques that can save you from excessive losses and even if a trade doesn't work in your favor, you won't lose a significant amount and this can be stopped using a well-placed stop-loss for every trade that you open.

And one can never be perfect. You can't even expect the experts to have all their trades getting success because profit and loss are parts of the process just like a win and a loss in a game. So, you might win one day and lose the other day, but that should make you stronger for the next game.

Topic: If you must follow or use the services of trading signals providers (Read 661 times)