I do not use any trading signal service neither am I in any trading telegram group. I haven't heard any good thing spoken off about trading signal groups. It has always been negative news, from members being scammed, dropping wrong signals and many other terrible things.
You enjoy trading when you trade yourself based on your own analysis, knowledge and style. The money you make from it will make you happy and even if you lose money at least you are not losing to someone else signals. As it has been said a million times, trading makes you a better and more experienced trader.
Topic: If you must follow or use the services of trading signals providers - page 5. (Read 608 times)
August 20, 2023, 05:33:20 AM
August 20, 2023, 04:37:42 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.
In the OP it said that you can use the trading signals providers as a way to learn how they analyze the movement of the market, so I disagree to never depend on signals when you can learn from them, and OP clearly stated that you can always compare their statistics to see which one you can benefit from the most, not everyone has to be a stereotypical trader that only relies on his/her wits and analytical thinking to do trading if there are tools that might be able to help you, shouldn't everyone at the least try them to see if it really does help them right?
August 20, 2023, 04:26:07 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?
I always want it whenever someone is trying something out, they should have a good understanding of how the things work. For instance, anyone relying on signals should atleast know the market and charts, this will help the person to validate any signal they recieved. Someone who does know about trading will blindly follow signals and the ending will be an inevitable lose.
I remember when I lost thousands of dollars in acquiring and funding forex trading bot. I do not understand fully well how the forex market works and I could not control the bot. The bot ran on a very high leverage and blew my accounts several times. Someone who has good knowledge of the market would have made a better use of the bot.
August 20, 2023, 04:09:46 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?
Following trading is really not bad unless you just do it blindly, like they say you will do without full understanding. You have a point, like validating it before making an entry, because that is where you learn, and that is when you'll decide to trade on your own. There are really times that you want to copy other traders just to give you an idea, like when writing an essay. You need to have an idea first before you can start out or know where to start, but that doesn't mean that you just rely on it.
August 20, 2023, 03:38:22 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?
After you do this still it won't make you a better trader or give you any experience from trading. If you can spend time observing others trade record then you can spend time analyzing the market yourself. At first it might look boring but the more you do it the easier it gets and entertaining it'll be for you and you'll love analyzing the market so instead of running away from it, I'll advice you start making your own analysis today and learn trading well.
When you start listening to others judgement on the market you're already blindly following them as you didn't know how they came about the trade signals and you'll not learn anything from the trade if it didn't go as planned, depending on signals isn't the best way to trade.
August 20, 2023, 03:36:30 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?
I once followed the trading signal channel. they also provide a little knowledge regarding how they analyze until they finally determine a good trading position.indeed not all signals will be successful, however experts also cannot be 100% correct in analyzing the market. but I see, from the several signals that are shared there will be 1 or two that are indeed successful. and some have failed.
after getting the trading signal that is shared, in fact we also have to validate it to ensure the accuracy of the signal. I wouldn't say all trading signals are good or bad. we can judge whether it is for their benefit or indeed distribute it to their members. either paid or free.
August 20, 2023, 02:48:06 AM
If I have to follow a trading signal service, I need to know how to use those signals. They give the signal and maybe when we enter the market, the signal given is a bit late because the market is already moving.
But if we can analyze it ourselves, we will find other moments that can lead us to determine when we can go to the market. So from the trading signals we get, we can analyze them again so they can work well for us and provide profit opportunities. But people will immediately use the trading signal without analyzing or seeing how the market moves. They think fast so they don't miss taking advantage of the moment from the given trading signal.
The time when the trading signal is given will be different when we receive it and maybe we are a bit late in executing it. So that's why we also have to have analytical skills so we don't depend on those trading signals.
But if we can analyze it ourselves, we will find other moments that can lead us to determine when we can go to the market. So from the trading signals we get, we can analyze them again so they can work well for us and provide profit opportunities. But people will immediately use the trading signal without analyzing or seeing how the market moves. They think fast so they don't miss taking advantage of the moment from the given trading signal.
The time when the trading signal is given will be different when we receive it and maybe we are a bit late in executing it. So that's why we also have to have analytical skills so we don't depend on those trading signals.
August 20, 2023, 01:51:46 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?
This is a more sensible option than just trusting those signals out of the gate and putting money behind each one of the signals you receive, but you must understand that signals are geared towards a specific kind of person, and the kind of trader which could use those signals is not interested in waiting for six months and do all of that work just to verify if the signals are legitimate, in fact that is the kind of work they want to avoid by the use of signals, and as such they will never listen to your suggestions even if they are reasonable. August 20, 2023, 01:18:09 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.
In the OP it said that you can use the trading signals providers as a way to learn how they analyze the movement of the market, so I disagree to never depend on signals when you can learn from them, and OP clearly stated that you can always compare their statistics to see which one you can benefit from the most, not everyone has to be a stereotypical trader that only relies on his/her wits and analytical thinking to do trading if there are tools that might be able to help you, shouldn't everyone at the least try them to see if it really does help them right?
August 19, 2023, 10:57:16 PM
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?
Not sure about trading signals though, if it's free then yeah maybe, why not subscribe to them and see how good their signals are. However, if they are going to charge you with huge money like monthly fees, I would stay away from that signal.
Just remember that there is no exact science in trading, it's either you are going to get lucky and win and lose some trades. It will not be always on the winning side or profits regardless of what pattern or used the services of trading signals.
August 19, 2023, 05:45:46 PM
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?
Im with this but we know that majority of those people who had decided on going with follow trades are the ones who do really likes on having that kind of automation on which they dont really put up much effort with trading and this is why they do came up with this kind of option on which they wont really be bothering theirselves on making those manual trades.Usually newbies who dont have experience and knowledge about trading would came up with this kind of option.It isnt really that bad at all but you should really be that wary and be sensible that you should really be knowing things along the way. Nothing beats out if you do know tradingwith your own skills and snipping out some ideas and analysis into those people above which you could eventually apply it on your own.
You know that it wont really be that something worth if you do 100% rely with those copy trading services or to those people who are offering such thing. You could really check out
about a traders statistics which it is really that right. You would see whether this fella is really that sustaining or just simply profitable on a certain short frame. Seeing on
6 months or more and checking it out wont really be that a bad idea at all.
August 19, 2023, 04:55:22 PM
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?
Most people using the trading signals,but it’s not the recommended one by the experienced traders.Instead of following others strategy,you can build your own strategies.Some signal providers will target some users and sell their holding at good price.When they give you some buying price,it mean they going to sell their long holding coin at that price.When they ask to buy means,they are going to sell their holding coin with some profit at that price.The trade with loss teach you more lesson by your own strategy.
August 19, 2023, 04:34:33 PM
Often trading signals are delayed, and by following them, you risk buying at the highest price. Speculators are well aware of such signals - they play well on the crowd's moods. Therefore, it is better to follow your own analysis and do not give in to the provocations of signal providers.
August 19, 2023, 02:25:48 PM
Yes analysing the trades can really help to get more profits each time you trade. Also if you check the history of their win percentage, of the source that you are following, then it will make you more confident and you can get more idea about the trades. But many times I have seen newbie treat these signals to do copy trade and blindly follow the calls. If they get profits, they are good, but if bychance they make losses, they starts complaining. It’s only the main reason.
If at all copy trade is to be followed, it is not suppose to be for newbies. Copy trading is suppose to be for an experienced trader who perhaps want to better his own trade and so he could be doing a comparison with what he is following and what he is also seeing in the chart of his trade. If they correspond then he could take a bigger risk or at most be sure that the trade would turn out in his favour. But a newbie barely knows nothing nor how to analyse the trade he is following, he would just take anything in and most times it is in lose because he won't be doing a comparison check.
August 19, 2023, 12:48:25 PM
Yes analysing the trades can really help to get more profits each time you trade. Also if you check the history of their win percentage, of the source that you are following, then it will make you more confident and you can get more idea about the trades. But many times I have seen newbie treat these signals to do copy trade and blindly follow the calls. If they get profits, they are good, but if bychance they make losses, they starts complaining. It’s only the main reason.
August 19, 2023, 12:36:12 PM
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?
I read a topic on Beginners & Help by thecryptovator that might be relevant on this discussion. You read the topic here https://bitcointalksearch.org/topic/trading-signal-channels-can-be-quite-clever-so-exercise-caution-5463632 as reference.
The winning rate record of some trading signals is manipulated by making 2 predictions both sides and deleting the prediction that went weong and remains the right predictions to make a solid success rate on trade.
August 19, 2023, 10:03:20 AM
Past is past, present is present and future is future.
You can't just think the signal that work in the past will work in the future, it's really naive. This is not Bitcoin halving where we will see this event every 4 years and after a year we will see a bull season. Signal isn't something that can be predictable like Bitcoin bull season because there are many unpredictable could happen.
You can't just think the signal that work in the past will work in the future, it's really naive. This is not Bitcoin halving where we will see this event every 4 years and after a year we will see a bull season. Signal isn't something that can be predictable like Bitcoin bull season because there are many unpredictable could happen.
August 19, 2023, 09:58:45 AM
If you must follow or use the services of trading signals which is not bad in itself you should do so smartly.
If you are smart, you won't use trading signal services as you can learn trading knowledge, indicators, technical & fundamental analysis and psychology cycles of market.Quote
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 can use free trading signal groups to support your learning, it's helpful and I guess you are referring about that. If you use trading signal groups with different ways and not for learning, you will be more dependent on those groups and even after months and years, you will not gain any knowledge.Quote
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.
It is good way to learn trading but most of people who use and rely on trading signals will not care to learn as that. It takes a lot of time and high discipline to check results of trading signals. I am sure not many people are ready to do those steps and can complete their tracking process.I appreciate your guide as it can be helpful for newbies who can complete these steps and for such newbies, if they see your topic, it will be a gift for them.
August 19, 2023, 09:42:19 AM
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?
My opinion is that those who use signal groups only identify one advantage and that is the one you already mentioned. Other than that nothing else looks positive to me about copying trade. Someone who is sure of profit may not sell his money to other persons because that is what it appears to allow someone copy you off your trade even though you are also gaining or losing separately. My opinion is that most traders make losses likewise those running copy trading channels, what then is the point to copy someone's losses.
August 19, 2023, 08:51:39 AM
Since the beginning of my trading career, I haven't tried paying for trading signal services. I've seen that the most of them aren't really profitable because the majority of their indications fail to materialize. Most of them are only interested in making money off of other people. Other than that, risk management is highly important in preserving the funds in trading, but if the signals have a very low winning rate, your capital will be liquidated in the end. So, if you're going to trade using signals, make sure the person is profitable.
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