Trading Signals vs Own Analysis - page 7.

South Park

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Quote from: Mudara on April 02, 2023, 08:15:05 AM

In the past, what I did was joining 2-3 signal groups and buy/sell according to their instructions. However, I realized 2 points.

1. No one can generate signals with a 100% accuracy.
2. When the winning percentage is 80%-90%, we have to make use of all the signals to get that percentage.

For example, if the results are
1-Win
2-Win
3-Loss
4-Loss
5-Win
6-Win

and we only take 3,4 and 5 trades, we are in a loss. Therefore, now I am not doing trading all the day. When I am free, I spend some time to analyze the charts and find some opportunities to enter the trades. Please share if someone has a different story.

Do not rely on signals for your financial future, there is a reason why the money manager profession is a thing, and that is because the circumstances and goals of each person are different, you cannot possibly believe that a bunch of simple instructions like signals are enough to help you, stop wasting your time and instead dedicate your time to learn how to trade on your own as it is the only realistic option you have of making money on the markets while you trade them.

lalabotax

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I ma not that good in analyzing the market. That is why sometimes I am using trading signals from several groups to help me. But, I ever used them for 100% tarding activities. How is combining both of them? Own analysis and also trading signa.because msotly, I am not really sure with my own analysis, ahha

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Quote from: Mudara on April 02, 2023, 08:15:05 AM

In the past, what I did was joining 2-3 signal groups and buy/sell according to their instructions. However, I realized 2 points.

1. No one can generate signals with a 100% accuracy.
2. When the winning percentage is 80%-90%, we have to make use of all the signals to get that percentage.

Trading signal groups often provide random signals, so they base their success rate on the number of successful trades among those random signals. By doing this, those who join such trading groups can never make regular profits, because it will not be possible to trade in all coins by following those signals, for this, big funds will be needed. So it is not possible to become a successful trader by joining a trading group, rather you should rely on your own analysis and develop trading skills.

ethereumhunter

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Quote from: Mudara on April 02, 2023, 08:15:05 AM

1. No one can generate signals with a 100% accuracy.
2. When the winning percentage is 80%-90%, we have to make use of all the signals to get that percentage.

Indeed, no one can generate signals precisely and we must realize that by trying to analyze it ourselves. Maybe we can take signals from other people for us to analyze again so that we can find more useful information for us. The signal will only be useful for the person who analyzes the signal while other people will not know how the signal can provide an opportunity for them to make a profit. Maybe the signal can be useful for other people but that won't guarantee that the signal will be useful for us. That's why we must be able to learn to analyze ourselves to determine the position of entering and leaving the market.

bittraffic

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If you can trust your trading system and what the charts are telling you why not just trade on your own of course, you need not get out of the signal groups you joined. Maybe just use it to confirm whether your analysis of the market is correct. That's the perk.

Analyzing charts on your own is fun to do and will make you learn on your own. You lose some coins yet it's a win-win still becuase you learn. You wouldn't have to worry about the winning percentage as long as you gain experience.

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Quote from: omgitsmehehe on April 04, 2023, 08:51:17 AM

Trading signals are mostly scams but not all, the ones selling them only makes their profits from the stipends you pay for or subscribe to. It's none and void, I don't follow signals, I create my own signals with the market charts either from technical or Fundamental analysis, but I based fully on technical analysis. Trading signals are mostly hinted for newbies in the market because they understand nothing and trading for the first time triggered fear especially when the trade is not going according to plans. We should be able to analyze the market by ourselves rather than depends on false signals that's totally wrong with the market, giving more room to losses.

To be honest, I have joined several signal groups, after several months of following the group's signals it turns out that my loss level has increased, after I reset, it turns out that most groups only seek profit from members, and cannot contribute to their members. In addition, now I realize that everyone's trading style is different, everyone has different technical and fundamental analysis.

So now I prefer to practice my own strategy rather than relying on other people, because this has proven to be more effective even though I experienced a loss, but at least this can be a learning material not to repeat it and be a little more advanced. Create your own strategy.

alik111

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Own analysis is much appreciated than following trading signals. We should analysis to find out a good buy range or sell range so that we may have a decent profit. Following technical analysis from experts are also a good idea as we know deep analysis gives good result in crypto trading.

touseefahmad1999

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You raise some valid points. It's important to understand that no signal or strategy can guarantee 100% accuracy, and traders need to be prepared for losses as well as wins.

Joining multiple signal groups can be helpful, but it's also important to do your own research and analysis before entering trades. It's a good idea to have a solid understanding of technical analysis and market trends so that you can make informed decisions.

Additionally, as you mentioned, it's important to take all the signals into account and not just the ones that fit a specific pattern or strategy. This can help to improve overall profitability and reduce losses.

Ultimately, every trader will have their own approach and strategies that work best for them. It's important to constantly learn and adapt to the market conditions, and to have a solid risk management plan in place

Pandu Geddon

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Quote from: Mudara on April 02, 2023, 08:15:05 AM

Therefore, now I am not doing trading all the day. When I am free, I spend some time to analyze the charts and find some opportunities to enter the trades. Please share if someone has a different story.

and now you can do your analysis? it will be good for your trading. I also follow trading signal channels and even my friends follow paid channels. I don't recommend it, to follow like what I do. even after the signal is distributed, we also have to check and try our analysis. not all signals will be accurate. hope you understand it. trading also not all of them will be profitable. we have to organize our thinking not to stress in the trades we do.

Mudara

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Quote from: adaseb on April 02, 2023, 11:54:07 PM

Those trading signal groups are all scams.
If they actually paid off why would they be selling memberships when they could just trade themselves?

I suppose they do not want to risk their own money. Although there is a risk associates with trading, there is no risk when publishing a signal on a group. 😁

omgitsmehehe

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Quote from: MoonOfLife on April 03, 2023, 12:08:38 AM

Trading signals are scams, nothing more, nothing less. If they are good at analysis and can win the market easily, they don't need to sell signals and just focus on trading they will make a lot of money.

For me, don't trust anyone in this market but yourself, maybe we won't be equal to them, but at least we make money by our own ability, not giving our money to others to use.

Trading signals are mostly scams but not all, the ones selling them only makes their profits from the stipends you pay for or subscribe to. It's none and void, I don't follow signals, I create my own signals with the market charts either from technical or Fundamental analysis, but I based fully on technical analysis. Trading signals are mostly hinted for newbies in the market because they understand nothing and trading for the first time triggered fear especially when the trade is not going according to plans. We should be able to analyze the market by ourselves rather than depends on false signals that's totally wrong with the market, giving more room to losses.

|MINER|

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In my personal opinion I think that it will be never a wise decision to always rely on others trading signals.
If a trader continuously doing this, then he will not be able to become a genuine or professional trader. Moreover, all the trading paid platforms I have seen so far, even after giving the signal, they have written that invest in your own risk. In that case, the risk will still be yours, but as a newbie, you can use some genuine platforms for trading Still I would say learning to analyze the signal yourself is the best option.

MoonOfLife

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Trading signals are scams, nothing more, nothing less. If they are good at analysis and can win the market easily, they don't need to sell signals and just focus on trading they will make a lot of money.

For me, don't trust anyone in this market but yourself, maybe we won't be equal to them, but at least we make money by our own ability, not giving our money to others to use.

adaseb

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Those trading signal groups are all scams.
If they actually paid off why would they be selling memberships when they could just trade themselves?

There are some which are even worse. They have a very low or free membership fee. And they promote low cap coins which they usually buy beforehand and then they pump it and exit when their readers buy that token. They are basically used as exit liquidity.

Jody.Drummer

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That's the thing to do, we only trade when we find the right graph in the market. If we trade all the time, it feels like we are pushing even though we are not in a good situation in the market for us to enter. If we follow the trading signals that many now provide, sometimes they give signals in a very short time. I was wondering how do they analyze it so they can quickly give a signal? Are they that good at analyzing? because from what I've experienced, determining when we should enter is very difficult, it must be with really a lot of knowledge.

asyezuner

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In my opinion there is noted that all signals are not accurate because no one can say about market condition if we follow up some own research
We study about technical charts
We research about when we can open and when close the trade
And also learn about Wich time is best for trading

ashmodeus

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of course even the paid group also can be inaccurate, that why i just pay only for 1 month,and try do some own analysis , the difference is when u do it by ur own analysis, u become more emotion when u lose,and sometimes revenge trading cant be avoided. as my experince when i on paid group, i cant even thinking about the price i take in, i just seems have only trust to them, so what when i lose after they giving signal, i just pm'ed them about what happened Grin

, well so far, one month on expensive paid group they give me only 78% up , idk if that good or not, since most of paid group showing of PNL hundreds percent of profit.

dimonstration

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Quote from: Mudara on April 02, 2023, 08:15:05 AM

1. No one can generate signals with a 100% accuracy.

Correct, Trading is based on understanding the current market condition and outwitting other traders to get profit because all the profit comes from the other trader pocket. There’s no way to win 100% if you are battling to other people that doing same strategy as yours.

Quote from: Mudara on April 02, 2023, 08:15:05 AM

2. When the winning percentage is 80%-90%, we have to make use of all the signals to get that percentage.

Correct again, As already point out on your point one. There’s no traders with 100% accuracy. Picking random signal from different traders will just exposed you to a more potential risk if you are unlucky on picking the losing trade.

Ypu will not availing this kind of service if you can trade on your own so better stick on one trading signal with a better accuracy.

joniboini

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I think enough has been said about trading signal groups. Most of the time they're just a pump & dump group where the owner will buy some coins, put the call on the group and then dump on newbies like you. If you can't make an analysis on your own, using a bot to analyze the market is better compared to following trades. At the end of the day though, bot or something similar is just a tool. If you don't know what they're doing and what indicators they're using, you won't get anything.

Try to check out demo trading that is available on some platforms if you want to get familiar with some trading tools/indicators. You don't have to spend money when you trade there. After you're familiar with some of them, spend some time trading on an exchange or P2P market, if that is available to you. Trading needs discipline, you can't buy them with money, unfortunately.

Xinarae*

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I think Own-analysis is the best thing to do when trading, because doing Own-analysis allows you to learn from mistakes and correct them later, which will increase your experience even more. Extra benefit when you study yourself, you will take much less time to take each decision, and you will be able to manage the risk and other factors in the trade management.

Topic: Trading Signals vs Own Analysis - page 7. (Read 942 times)