Topic: Relying on someone else's signals (Read 297 times)

it is yours so you are the one who must be more concern , each signals has their own shill account because lets accept the fact
that they are only here to showcase their invested coins and care nothing about us,
there are some legit but majority are just money taker.
Failure is needed for us to learn more .

this will help us understand the market deeply because of the losses we encountered .

win or lose? that is part of the investment world .

I totally agree with you. You are right, signal groups try to make money from us rather for us.I followed trading signals when I was first in cryptocurrency. Cryptocurrencies are uncertain, so signals don't always work. Many people may have experience participating in premium signals, but from my experience, those who give signals are probably connected to some group, I think they just try to promote coins for their profit.I don't follow anyone right now.Because currently fake signal groups are spreading.  Those who have experience with cryptocurrencies I think should not follow the signals.

I think it is more useful to observe top traders in real time than just copying signals that are provided by unknown traders: https://www.gmx.house/arbitrum/leaderboard In this case, you will be able to analyze the reasons why a trader opens or closes a deal and make an independent trading decision.

At the end of the day, They just want to make profit as all of us wants. Receiving or checking out signal doesn't mean you don't have a good future or will have a good growth on trading. Everyone of us has our own way of learning and there are people who tend to rely on signal to learn and have growth as time goes on. There are also people who rely on signal just because they only want profit and they don't really want to spend a hassle learning trading, I know someone who don't like to spend time on learning deep on trading this is why he rely on signals. I don't find it wrong but the only thing about this "signal" thing annoys me is the fake signal groups or self declared trading guru that ask everyone to pay them for some signals.

honestly though, rely on the other signal seems like you just not ready for your carreer in investment and trading, but it's still understandable for many of the newbies that might still trying to find their way, so long you don't rely too much on these signals at the end of the day.

It's definitely better to do things on your own than relying on someone else, especially if it involves money because if you lose or fail, you will know and accept that it was your money and you lost it, and it's alright as it happens, but when you lose your money because of someone else, it becomes pretty difficult to digest that, to be honest.

Success and failure are a part of the journey, so it doesn't matter if you fail sometimes and succeed some other times, what matters is making progress and seeing growth, if you see that you are growing even if very slowly, you are obviously going to make it eventually.

In the past, I have just started to interact with this market and have also followed some famous people talking about BTC, ETH, XRP, ... but later I realized that their signals or thoughts can be affect the market but only momentary and in the long run I can feel the growth of the market.
So short-term players often complicate themselves with skills experience as well as signal indicators, to me, each person will have a different approach and goal, so this problem is just the same a small part of the market's movements, but it is also very warning to those who are new to the market to always be cautious about their behavior in every decision.

sounds like more reasonable way to grow the investment honestly, with these signals mostly just speculation, maybe someone could luckily encounter some real good signal but what
if eventually the signals turned shit and then it was all for exit liquidity opportunity made by the one who made the signal, there are actually quite many influencers out there having created some
signal group but ended up becoming shit, eventually those that trade by following signal should be independent and make their own observation in regards of the investment that they going to make.
that way they don't get taken advantage of.

I personally have not been associated with any such group till date and have no intention of joining any group. You are absolutely right that these groups only extort money from people and people give them a good amount of money every month.

Sometimes the signals of these groups turn out to be correct but only four to five percent profit is obtained. In which the trader with small amount does not earn anything.

If their signals turn out to be that accurate or if they have that much confidence in their signals, they should focus on making their own profits instead of forming groups, because the main purpose of these groups is to make money. Which they can easily earn by trading themselves.

Not a fan of signals because I do my own homeworks and yes have succeed in various time but fails sometimes but now I stopped trading as I am not successful and many times.
what I do now is staking and holding (sometimes gambling) to grow my funds inside crypto market.

You are surely right about that these signal groups only make out money to everyone and they lying about it that they give signals to buy while they already bought low and once it pumped they eventually sell such amounts to make profit. That't why never rely on someone's signal instead make a study of it inorder to make profit from trading and it is better that way.

experienced people will definitely avoid advertisements like that VIP group. it's just that most of the members who just entered the group are beginners who still lack experience. all I do is wait for the bull season to come in the coming year for now, preferring to keep my favorite coin in my portfolio before the altcoin market explodes significantly

I already experienced this before. Before when I started following them, it was kinda profitable in the early days, like they have a list or journals about their performance, and during the early days, they are profitable especially when the market is bearing market.
But afterward, they started to become a premium channel where they are not free anymore, we tried to pay it for months only and after that, they become unprofitable, like their performance went down compared to their early days.

Never believe in vip groups or groups that promise profits, it's all just manipulation to take advantage of newbies who are ignorant of the market. Crypto markets such as analyst charts are formed due to sentiment from news in the world. It's useless to read the chart as long as the news still influence situation of market

VIP groups of this type attract newbies who want to get rich quick but it's not easy. it is better to learn about chart analysis than to join a group. It's not easy to get to know graphical analysis, but I think there's a lot of this material on the internet to understand, it's just difficult to understand quickly.

Have done this 3x and sadly those 2 are total losing and the other one is just a 10%  gain that's why since then i stopped following signals instead i sometimes copy trading or better asking some expert friends opinion in certain coin/project that i am interested.
And yes luckily since then I am confidently earning than losing
Yes this is just my excess work in crypto since i have other things to do in life.

Try to prevent yourself from following signals because of like what you said, it was created for their benefits and not ours, instead ask forum members for better understanding and indeed good results.

yes, that's most certainly one way of taking advantage of these groups followers, you could always make the first entry and reap most of the benefits afterwards.
it's sort of maximizing your potential of your investment, basically turning your profits even higher.

that's the point, following trading signal should also be accompanied by our own analysis, so that it could increase the accuracy, that is even if we are capable, otherwise just follow signal blindly and see the rate of success if it's above 70% as you said, it's still good enough.

The signal providers main task is to have good number of users boarded on the channel. As said the revenue comes through the subscription and not through the trading activities. With the signal providers one thing we can see in common. When the prediction coincides with the market and gives profit the credit will be taken. When the prediction fails they don't take responsibility. Signals can be considered as a reference or as data to the analysis made by us. Slowly we'll get to know well about the market and can make closer predictions.

sometimes there are people who make altcoin signal groups even though they are the same as following other signal groups. because of the drawback they know, the more members participate it will make the volume power increase from the member's side, it will only take time, money. because the one who will win will get a big profit, only the group admin for placing the first buying and selling position. what I've experienced is joining VIP groups rarely finding learning about chart statistics or other things

Better not make yourself be reliant into someones signals or analysis but its not bad to look on what they have done because there are really some ideas which would really be that beneficial for you.

It is really just true that it would be better to rely into yourself and dont make other to be your inspiration or you would be following for the rest of your life. You should really be making yourself that

independent on which means that you could really be able to trade on your own without peeking others ways of trading. Sustenance is something that we should really be targeting or having that kind of goal.
Find yourself do able to stand out this volatile market and on this way you would really be able to tell into yourself that you could really stand on your own but of course it would
really be taking so much time and lots of engagement and experience which you would be needing to pass up before  you would be going into this kind of status.

It depends on the person or group you follow, whether they are reliable, and have a good track record.
but in my opinion it is best to learn how to trade yourself, because it will improve your trading as a whole.
and the risk of relying on the signals of people or groups, if the signal provider fails then you will also fail and vice versa. But if you learn how to trade seriously, you can make decisions based on yourself.

I don't think such sites or platform can be %100 accurate, even though you are paying for the services the signal person may or may not give correct calls sometimes. I know some people patronizes this platform to aid them in trading because making the right call is not very easy, but if you are able to get %70 out of the money you paid for the signal service that should be a win.  

I have not followed any signal groups, or have I tried to follow someone else trading signal because I already know what the reality is with signal groups, most of them are inaccurate and most cases it's a scheme just to take money out of your pocket to service their own personal greed, when it comes to trading most especially in altcoin, one need to just rely on the analysis of the current market because relying on a signal service is risky and expensive to subscribed to at some point
The answer is NO for me, and from experience of others, following A signal group is a waste of time since and you have to gamble with your capital if you relied on signal services.

As a rule, the owners of signal groups receive profit precisely through subscription, and not through trading. And if you carefully follow these signals, you will be able to notice that they are not so accurate anymore, and very often lead to the loss of the deposit. You can use such signals as an additional condition if your expectations coincide with the signal.

You're free to follow anyone else signal, prediction or ideas as lomg as you're away of the risk involved and you're taking it for yourself, there's nothing too bad in learning how to read about those signals as well, they were not also born with it, they only sir to develop themselves in learning, you have the opportunity of the use of internet, or the forum here in learning, if you don't learn, will you continually go to them for more signals each time.


Joining a group is not by force, it's a choice, some will even pay for it while they believe in whatever they were being told, well that's their own choice, it's their money at stake not ours.

Following someone else's signals can be a hit or miss experience. While some individuals may have had success in following signals provided by others, it's important to approach such signals with caution. There have been cases where signal groups have been accused of self-serving motives, such as promoting pump and dump schemes or using the group for their own financial gain. Ultimately, relying solely on someone else's signals without conducting thorough research and analysis of your own can be risky. It's advisable to develop your own trading strategy and consider signals as one source of information rather than relying solely on them.

The most stupid thing to rely with someone else's signal. it's pretty much the same like you were entering the trap that already made by others. You will be only wasting your money. I have ever participated in this kind of signal and i were only getting lose but i have only used small amounts of money. It's caused by the owner of signal will be buying it before they will give their signal to you. That's pretty much the same like trapping you to buy high.

you should try figure out the reason why majority of signal group aren't long lasting one, every one of them are build with some ulterior motive, only at their early creation that these signals are truly worthwhile.
meanwhile eventually they will just outright taking advantage of the other people that just joined in the group.
that's why so many are advising that you shouldn't just blindly follow these signal, you just need to verify whether the investment will be worth the time.
after all there's always chance you're being used for exit liquidity in which gonna cause massive loss towards your investment in general.

I tried doing this back in the day it's completely useless

1. "Free signals" are used to build group numbers
2. Once the group has so many members they start asking for subscription or make a VIP group for "premium signals"
3. The trick is they (owners of the group first buy the shitcoin) and then send the "signals" to VIP members to buy and afterwards post the signal in the bigger group.
People rush to buy due to FOMO, Price pumps and the signal providers dump off the shitcoins on those users in the free group
5. They post results of very good performance and the cycle continues on another shitcoin

The only way through trading is by learning how to trade and making technical analysis yourself.

only follow these signals if you don't have any idea about the thing you are investing.
if you can make your own analysation that's good but i'm sure we can't be all knowing about the investment of ours.
therefore these signal could sometime help when we don't have any clue about the circumstance of the coin we invested in.

Whats good about on following signals specially for free is that you could eventually learn on how they do show up their analysis on which you could really be able to apply it on your own and made out
some realizations on how you would really gonna deal with the market.Just like i said that its never been bad to join up on those groups as long you arent paying on something like sub fees or vip fees because its never been worth i would say. Relying on your trading activity is never been that good or something that referrable.

We know that if things turns out to be bad then we cant really blame out someone but rather only ourselves but if you are really that following on someones calls and signals then
you would really be mainly pointing out fingers into them. Just like i said that it wont really be that a bad idea on snipping out others analysis which could be applied to yours
and this would really be involving lots of trials and errors along the way on the time that you've been dealing with trading.

nothing wrong with rely with these signals but honestly it's like you are relying about your financial decision in other people which might have some consequences of making you lose your money eventually if the person you're relying don't have good intention.

just think of it this way: is someone so good at predicting the price why would he be wasting time in giving signals when he could make a big loan and in a short time he would be very rich and would be traveling to all corners of the world? It just doesn't make any sense, what's been going on is this: these guys who keep calling themselves trading experts know they can't make money trading so what they do is lie to people, and people pay for the courses they take. proclaimed specialists in day trading do, so with the appearance of many people who buy the courses, they take these people's money and go to luxurious places

with that, people keep thinking that the guy who considers himself a specialist in day trade is actually making money with day trade, but in fact what the scammer is doing is taking people's money and using it to pay for his expenses with luxury things, never you must believe in this thing about signals, this is all a lie, if someone intends to day trade then learn to do it yourself, watch free videos on youtube, read free books and learn by yourself, do not hand over your precious money to these damn scammers who stay lying that they are day trade experts and charge for the signals they offer.

they offer free signals, just with the aim of attracting people to delete the paid signals, these free signals don't even hit it and then they lie to people telling them that they must pay to have the paid signal which is what will be right, it's all a lie

I have some experience with this but that was free since it was coming from my friend. I've noticed that with those signals I've got from him some have work and I earn a profit. This means that not all of these signals give me a favor and it also does to him as well. Now, if we think that relying on other signals is good, I would say that it was a good start and it is actually profitable if it comes from paid signals, that is something we need to be careful of. They are actually just good for you at the start but in the later part, they will give you the wrong signals.

The issue about all these paid signal groups is that you will find out they don't actually trade themselves but either shilled their referrers or make you their exit strategy, people need to understand that it is very difficult to make money trading because it is zero-sum gaming don't buy into all these lousy influencers online shilling their profit, have you ever see them post their loss, No. The best strategy in the space is to buy low and sell high, anyone that buys now is surely going to make money just give it time.

true I think there are many coaching group that also gives signal, then that kind of paid for service is worth it mainly because not only they give you good signal in the meantime
they also teaches the fundamental of trading so basically not just giving fish but also teaching how to fish.

but stay away from some random signal group that only take advantages of its customers though there are many of them and sometime they also charge for relatively trash signal which just gonna mislead.
i'd say find signal that come from expert trading that already famous I think there are many but then again this is not financial advice.

I didn't but a friend of mine told me about this when we met all of a sudden and had a chit-chat and he said that they're all useless. He tried to join a lot of them knowing that he'll gain knowledge on how to trade properly but he ended up badly and losing money. It may not be the same story as the others but that's the reality he has talked to me about and he's no longer with those. Although, he's still into mentorship and courses that he's paying for and I'm not sure if he's doing pretty well now. Speaking for a friend of mine, that didn't worked properly for him and he's regretted that he's spent hundred of dollars into paying those premiums.

Following signal will usually turns out to be success then later on the accuracy of these signals usually decrease, since there's ulterior motive behind after that, it's always like that.
so if you are following some signals just don't rely on it forever you should eventually make your own analysis.
after all, with your own analysis you will definitely could suit your investment to your preference and many more.
but generally these premium signals are good enough for newbies that don't even have any idea how to invests, it's better than just throwing away your money into some random investment.
because generally if it's premium signals usually it was given from good technical analysis and even it got information of events that's gonna happen so of course sometimes there's also nothing wrong in using trading signal.
that only if the trading signal is of good quality.

If that signal group teaches you how to analyze as well then its a good one. We have here our local group where the coaches guiding you how to properly analyze the price trend and giving the signal at the same time.

You just need to find the real group that cares and not just about the money you paid for, signals are ok as long as you will also do your own analysis to confirm if it works for you or not.

I've followed trading signals from other people. It works by giving buy and sell signals and stopping losses that we have to follow. But unfortunately, it doesn't always work because there are times when the signal that is given misses what it gives, so some of us experience losses, including me.

And so is the pump and dump group where they give the name of the coin to be pumped but we have to be able to follow it at the right time when the name of the coin is mentioned. This is the most difficult because the time to buy the coins has to be right. Otherwise, we will buy too late and make us have to bear the loss. And since then, I have decided to learn to trade on my own and never depend on trading signals from other people. And even if I pick up on that signal, I'll look into it further for any other clues. So be careful if you want to join any trading signal group, whether paid or free.

Many other people may have experienced participation in premium signals but about how it works is probably exactly what is talked about a lot in this forum, by being told to buy the newly launched tokens to bring in FOMO and to sell maybe there will always be instructions from the owner the signal is about when, so this does include the pump and dump made by them.

Now maybe it's crowded with coin memes and some of them might be eyeing a project like this, for members to buy meme coins that have been analyzed by them as their mentors.

I myself have never followed it so I have no experience of success or not.

Does anyone have experience following someone else's signals? How did that work out?

I personally have belief that all signal groups try to make money of you rather than for you, whether it be through making group behind paywall later on, using group members for pump & dumps, using group for marketing, etc.

Has anyone here ever succeeded in following someone else's signals?