Relying on Crypto Signals to trade, is it advisable?

[pieppiep]

I agree with you, it is better not to depend on other people, especially signals shared by those people. We have to learn trading by ourselves, seek knowledge and by learning we can gain experience. I also read there are two topics that discuss this, it is better to forget those lying signals

Yesterday one of my friend ask me that if he invest in anywhere like about $50 is there any way to make a passive income from that, One of the reasons he asked me this question was that he had seen a promotional video on Facebook where a guy was saying that he had turned $50 into $8000 plus by giving just eight signals.

I first told him that making money is not so easy that you can make eight thousand dollars in one night from 50 dollars.  And those who give these tempting ads are scammers, they may ask you to deposit money on some other website and later you will see that you have lost your entire money.

You are right, it is impossible with a capital of $ 50 we can get a profit of $ 8K in one night because it is clearly a scam. Many newbies are fooled by this because they do not understand investing in crypto and think that making money in crypto is very easy. Pity those who are lulled by the seduction of these scammers.

One must also understand the fact that people need time, knowledge and a good plan to succeed in investing. Of perhaps what a lot of sweet talking means is a shatter of expectations of quick riches for the targeted populace. It also involves learning and the ability to understand the market very well so as to be able to check on the kind of offers being offered.
 
As a community, we are able to educate the people with correct information and telling how we got scammed so no one else falls for it. By so doing, we can avoid or at least minimize the number of people who fall for the trick and assist them make better investment choices.

[Crypto Library]

You are right, it is impossible with a capital of $ 50 we can get a profit of $ 8K in one night because it is clearly a scam. Many newbies are fooled by this because they do not understand investing in crypto and think that making money in crypto is very easy. Pity those who are lulled by the seduction of these scammers.

You will be more surprised if you know that people are stepping into this kind of scams of their own free will.
This is because most of the people who look at cryptocurrency trading from afar think that cryptocurrency trading is a means to get rich easily and therefore most of the people fall into this kind of scam knowingly.
I would call such tempting offers as complete ponzi scams and people should work hard to get rich instead of getting rich easily. And I would also say don't think of crypto currency as a get rich scheme. And if you want to do trading, start trading only after getting knowledge from the authentic sides. If not, it will be like trading for profit and you are taking loss.

[SamReomo]

And if you want to do trading, start trading only after getting knowledge from the authentic sides. If not, it will be like trading for profit and you are taking loss.

That's a very genuine advice, and anyone who follows it will surely get some benefits from it. From my own experience as a trader I can say that getting knowledge about trading and making your own trading strategy and trading plan is essential to make profit as a trader.

Those who don't learn those necessary things often end up losing money as a trader rather than making any profits. In bull run even newbies make money in trading but when bear market enters then the newbies will lose all the money that they made in bull market and only a few take the profits.

[Captain Corporate]

Its quite obvious that we are not going to really do much profit with something like this, in most cases people do not make much money with it and it would be smart to try to avoid using those. Its clear that signals have two potential place where they derive from, its either just some person thinking that something will go up and write that down, which is the worst possible way, and the other is a bit more logical but still bad which is that some person puts some indicators down and whenever it happens the alert shows everyone to buy it or sell it based on the indicator that the signal creator gives. Both terrible methods.

[Gurujebs]

That's a very genuine advice, and anyone who follows it will surely get some benefits from it. From my own experience as a trader I can say that getting knowledge about trading and making your own trading strategy and trading plan is essential to make profit as a trader.

Trading has its own knowledge that need to be practiced and you can't expect the experience you got from trading to be the same with when you make it experimental, there is going to be some mistakes and successful trading that comes with profit. You would y understand all of it until you try it see, you might change the first perspective you had when you were learning trading and when you are doing it.

Those who don't learn those necessary things often end up losing money as a trader rather than making any profits. In bull run even newbies make money in trading but when bear market enters then the newbies will lose all the money that they made in bull market and only a few take the profits.

You know they said that experienced is the best teacher. You will not understand trading fully until you put it into practice but unfortunately manet newbies that are into trading today don't learn the basic things about it but what I know is that if they don't do all this mistakes, there might not be any profits since everyone are been smart in the market and avoid losses.

[Crypto Library]

That's a very genuine advice, and anyone who follows it will surely get some benefits from it. From my own experience as a trader I can say that getting knowledge about trading and making your own trading strategy and trading plan is essential to make profit as a trader.

Those who don't learn those necessary things often end up losing money as a trader rather than making any profits. In bull run even newbies make money in trading but when bear market enters then the newbies will lose all the money that they made in bull market and only a few take the profits.

Actually this is our national problem, for example we don't invest when bitcoin price is low, and we rush to invest when bitcoin price goes up. I myself did not invest when Bitcoin fell to 15k because I had less knowledge about the market and now I understand that bear season is best for those who want to invest for long time. And for this, I have already started storing funds by targeting the next bear season so that I don't miss the opportunity to invest in bitcoin in the next bear season.
Actually, we should take a basic knowledge about fear and greed index where if greed level is high then the investment should not be done and when fear level is high then do not panic and hold coin and if possible adopt.

[_act_]

Being a trader, i must say that you will have to make use of the trading or market price indicators and signals as the case may be, doing this does not mean that you must also have to completely depend on them, trading has to do with the combination of different ideas from different perspective all together in other to arrive at a course, so make use of the indicators but don't rely on them.

[BitMaxz]

Being a trader, i must say that you will have to make use of the trading or market price indicators and signals as the case may be, doing this does not mean that you must also have to completely depend on them, trading has to do with the combination of different ideas from different perspective all together in other to arrive at a course, so make use of the indicators but don't rely on them.

If the signals came from people that's not always a good idea but you can use it to compare it with your analysis if you know how to use indicators for signals you should be able to determine if the signal that you heard from others is completely different or you have the same analysis as the signal provided from someone else.

For me, better not to rely much on most of the crypto signals out there even the free apps available from playstore or appStore that provide signals don't actually give an explanation of how they get those signals. So it's advisable to learn more about the market and how to trade than just relying on signals.

[alltalk]

Being a trader, i must say that you will have to make use of the trading or market price indicators and signals as the case may be, doing this does not mean that you must also have to completely depend on them, trading has to do with the combination of different ideas from different perspective all together in other to arrive at a course, so make use of the indicators but don't rely on them.

Of course, we need to use some indicators and signals. But surely we don't rely on them, we should have our own analysis. It will be very careless if we rely on other people's signals. It is not a wise way in trading, there is no guarantee the signals will be always true. Moreover, if we get from random people. However, if the signals from other people to be just another consideration on making our own analysis, it is no problem. I'm sure, every time we make our analysis, it should be through many considerations.

[LUCKMCFLY]

I agree with you, it is better not to depend on other people, especially signals shared by those people. We have to learn trading by ourselves, seek knowledge and by learning we can gain experience. I also read there are two topics that discuss this, it is better to forget those lying signals

Yesterday one of my friend ask me that if he invest in anywhere like about $50 is there any way to make a passive income from that, One of the reasons he asked me this question was that he had seen a promotional video on Facebook where a guy was saying that he had turned $50 into $8000 plus by giving just eight signals.

I first told him that making money is not so easy that you can make eight thousand dollars in one night from 50 dollars.  And those who give these tempting ads are scammers, they may ask you to deposit money on some other website and later you will see that you have lost your entire money.

I have also come across these types of ads and the truth is that they are not at all trustworthy, do not fall for these ads, they can offer a lot and in the end it is nothing, you just have to start from something, if something is usually so good, there is not much of it, it will always be fulfilled, then it is strange when something so big is like that, and so easy, then I advise you not to fall into these traps, the worst thing is that those who offer it show a luxurious life and all that, but in the end it is pure montablje, none of them are like that, those who are like that do not offer it for anything, they stay with those secrets, nyo what I am saying is that one can believe in someone like that only when it is free, the rest not.

[Agbe]

Seeing trading is a risk, traders are always advised to do much research on their own before venturing into Crypto trading and also to trade as much as can be lost, and we all know that the bigger your capital, the bigger your profit. But viewing the crypto market, we see it is very hard to predict in person and even some prediction from analyst seems to be incorrect.
I would love to know, is it quite advisable to wholely depend on trading signals in trading crypto?
More like Forex Trading, where one can subscribe to getting daily trading Signals, Ive also come across such Signal provider through a friend, and he always testify of making profit on every signal posted on the platform.
Could this be legit?
I need some advice.

Relying on signals to trade is the same thing as relying on luck remember that not everyone that gives out trading signals is really an expert trader, it's very risky because you really don't know the effort they put in to study the charts or analyse the market. A lot of people that are new to forex trading don't dedicate their time to the learning process instead they just want to rush into the market and make money. Paying people you don't know to get signals might lead to a double loss it's better you take sometime to understand the Market yourself so you can develop and come up with your own strategies.

[gunhell16]

Seeing trading is a risk, traders are always advised to do much research on their own before venturing into Crypto trading and also to trade as much as can be lost, and we all know that the bigger your capital, the bigger your profit. But viewing the crypto market, we see it is very hard to predict in person and even some prediction from analyst seems to be incorrect.
I would love to know, is it quite advisable to wholely depend on trading signals in trading crypto?
More like Forex Trading, where one can subscribe to getting daily trading Signals, Ive also come across such Signal provider through a friend, and he always testify of making profit on every signal posted on the platform.
Could this be legit?
I need some advice.

What you see is correct: trading is really associated with risk when you carry out trading activity on any exchange, whether it is at the top of the market or not. Now, giving trust to a signal group depends on you if you have trust, even if you don't know him in person.

It's just like copy trading, where you entrust your money to someone who will do the trading for you, and he will only earn a percentage of the money you allocate to the trust that you give to the trader in the signal group. Although the risk is also quite high.

[alltalk]

Relying on signals to trade is the same thing as relying on luck remember that not everyone that gives out trading signals is really an expert trader, it's very risky because you really don't know the effort they put in to study the charts or analyse the market. A lot of people that are new to forex trading don't dedicate their time to the learning process instead they just want to rush into the market and make money. Paying people you don't know to get signals might lead to a double loss it's better you take sometime to understand the Market yourself so you can develop and come up with your own strategies.

Exactly. If we rely on the signals or prediction made by other people, it is similar with relying on the luck. TBH, it is difficult to understand the signals because many of them are not trusted signals. Moreover if we rely on the free signals, it is very high risk because we don't know the reputation of the people who made the signals. Even for the paid signals, it also sometimes doesn't work as expected. I've joined both free and paid signal groups, none can give satisfying results. The best way is to make our own signal, we can analyze it ourselves. Why we must rely on the signals of other people if we can do it ourselves, right? 

[Sim_card]

You are right, it is impossible with a capital of $ 50 we can get a profit of $ 8K in one night because it is clearly a scam. Many newbies are fooled by this because they do not understand investing in crypto and think that making money in crypto is very easy. Pity those who are lulled by the seduction of these scammers.

You will be more surprised if you know that people are stepping into this kind of scams of their own free will.
This is because most of the people who look at cryptocurrency trading from afar think that cryptocurrency trading is a means to get rich easily and therefore most of the people fall into this kind of scam knowingly.
I would call such tempting offers as complete ponzi scams and people should work hard to get rich instead of getting rich easily. And I would also say don't think of crypto currency as a get rich scheme. And if you want to do trading, start trading only after getting knowledge from the authentic sides. If not, it will be like trading for profit and you are taking loss.

If you think that trading is a get rich quick scheme it means that you will not ne able to take your time to learn and improve yourself on trading because you will ba fter making profit without having the skill on how to go about it. Trading ia complex and needs time and dedication if you want to be successful in it. Nothing good comes easy same with money making.

[Crypto Library]

If you think that trading is a get rich quick scheme it means that you will not ne able to take your time to learn and improve yourself on trading because you will ba fter making profit without having the skill on how to go about it. Trading ia complex and needs time and dedication if you want to be successful in it. Nothing good comes easy same with money making.

Main thing is making money on legal way isn't easy therefore need to hard work and dedication for it. And as far as I know there is no medium in the world where you can easily earn a lot of money from home without doing any work.
I am not talking about trading only if you want to earn as a web developer or digital marketer here also you have to devote regular time and keep yourself updated with it daily.  Same is the case with trading, sometimes it may take years for a trader to gain proper skills in trading analytics. And if you want to do this very easily by following other people's signals, it is natural that it will not be successful.