Relying on Crypto Signals to trade, is it advisable?

[tvplus006]

...Joining trading signal groups depends on whether you know or trust them, but if you just saw them or someone said something, it's a bit risky because you'll be giving money or funds to a group that you don't really know.

It should be understood that only 1 participant in a trading group consistently makes a profit and this is the owner of this group, who, regardless of the accuracy of the signal, always makes a profit due to the signal fee.

[Dzwaafu11]

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.

You have already said what I want to say here, since you know that trading is very risky and also that professionals make wrong predictions sometimes, which means they also lose money in their trade. This should be a reason for you to trade on your own, not until someone places a signal of their trade before you copy the signal and trade. You should know that doing it on your own is the best; it will even give you more confidence in your trade.

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.

It is not advisable to rely on trading signals before you trade. Find your own way, strategy, and other things that will favour your trading experience. Relying on signals will not make you a professional trader since you are copying from another person, so it’s better you do it on your own. Just make sure you have the knowledge; you are good to go.

[dekafee79]

...Joining trading signal groups depends on whether you know or trust them, but if you just saw them or someone said something, it's a bit risky because you'll be giving money or funds to a group that you don't really know.

It should be understood that only 1 participant in a trading group consistently makes a profit and this is the owner of this group, who, regardless of the accuracy of the signal, always makes a profit due to the signal fee.

You are right,😁 I also have the same thought the owner of the trading signal group will always get profit but I am not sure the members will get the same thing. I am not a person who believes in trading signals shared by someone because I have a thought that if he is an expert he will focus on trading and have no time to take care of the group.

[Ujok]

...Joining trading signal groups depends on whether you know or trust them, but if you just saw them or someone said something, it's a bit risky because you'll be giving money or funds to a group that you don't really know.

It should be understood that only 1 participant in a trading group consistently makes a profit and this is the owner of this group, who, regardless of the accuracy of the signal, always makes a profit due to the signal fee.

You are right,😁 I also have the same thought the owner of the trading signal group will always get profit but I am not sure the members will get the same thing. I am not a person who believes in trading signals shared by someone because I have a thought that if he is an expert he will focus on trading and have no time to take care of the group.

I think relying on signals is not good, as you said earlier it is true that it makes them get a lot of profit but not for us, sometimes people who follow signals for example in groups that get profit are definitely the ones who give the signals... this is just someone's game and this is a trend, but there are so many people who follow this so that many experience losses from relying on signals.

[milewilda]

...Joining trading signal groups depends on whether you know or trust them, but if you just saw them or someone said something, it's a bit risky because you'll be giving money or funds to a group that you don't really know.

It should be understood that only 1 participant in a trading group consistently makes a profit and this is the owner of this group, who, regardless of the accuracy of the signal, always makes a profit due to the signal fee.

You are right,😁 I also have the same thought the owner of the trading signal group will always get profit but I am not sure the members will get the same thing. I am not a person who believes in trading signals shared by someone because I have a thought that if he is an expert he will focus on trading and have no time to take care of the group.

I think relying on signals is not good, as you said earlier it is true that it makes them get a lot of profit but not for us, sometimes people who follow signals for example in groups that get profit are definitely the ones who give the signals... this is just someone's game and this is a trend, but there are so many people who follow this so that many experience losses from relying on signals.

If you do have plans on trying out to make yourself becoming a better trader, then following some trading tips and hints will really be that not making you a progressive trader.
Why? Its obvious that you are really just that following on someones trades and not be able to make on your own and this is where you would really be that lacking.
It will really be that important that you should really be wary at least on the things that you are dealing into.If you wanted to become a professional or be good at it,
then you should really be trying out to make your own analysis or simply wont really be relying into others.

[tvplus006]

You are right,😁 I also have the same thought the owner of the trading signal group will always get profit but I am not sure the members will get the same thing. I am not a person who believes in trading signals shared by someone because I have a thought that if he is an expert he will focus on trading and have no time to take care of the group.

I quite often see owners of channels with signals deleting their messages with signals when they are not performed. Therefore, when a beginner joins such a channel, he sees that all the signals are correct and have fully worked out.

[bitterguy28]

It should be understood that only 1 participant in a trading group consistently makes a profit and this is the owner of this group, who, regardless of the accuracy of the signal, always makes a profit due to the signal fee.

You are right,😁 I also have the same thought the owner of the trading signal group will always get profit but I am not sure the members will get the same thing. I am not a person who believes in trading signals shared by someone because I have a thought that if he is an expert he will focus on trading and have no time to take care of the group.

every trader should really focus on oneself because even the expert will put himself above anyone else even if you say that the expert has showed genuine care for the members if it came down to choosing for himself or the members it would obviously be him i know a lot of us are desperate to learn how to trade because it seems to be hugely profitable but if you do not put enough effort to actually learn how to do it, you will be in trouble in the long run so just learn it now and be patient everyone starts off with no knowledge and no experience but these two can be built

[Mia Chloe]

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.

Well I don't and I have never fancied copying signals to place a trade because I personally believe it's lame and not helpful. It's just almost like being a dummy controlled into the market rather than knowing why you placed the trade or what makes the trade valid , you just delve into the market with the sole intuition that the trade goes as you were told and then wait for your take profit.

However it may not seem like much but copy traders really aren't improving in their approach to the market especially in the aspect of technical analysis. Real traders who analyse by themselves place trades because the market at that moment obeys their confirmation. However a copy trader wouldn't really be able to tell is the trade has been invalidated.

[royalRitta]

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.

Well I don't and I have never fancied copying signals to place a trade because I personally believe it's lame and not helpful. It's just almost like being a dummy controlled into the market rather than knowing why you placed the trade or what makes the trade valid , you just delve into the market with the sole intuition that the trade goes as you were told and then wait for your take profit.

However it may not seem like much but copy traders really aren't improving in their approach to the market especially in the aspect of technical analysis. Real traders who analyse by themselves place trades because the market at that moment obeys their confirmation. However a copy trader wouldn't really be able to tell is the trade has been invalidated.

I too think that trading yourself is more beneficial in the long run. Nobody says for you what to do or not to do, and you can analyze things yourself, also nobody would be arguably blamed for a bad position besides yourself in that case.

[satpol_PP]

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.

Well I don't and I have never fancied copying signals to place a trade because I personally believe it's lame and not helpful. It's just almost like being a dummy controlled into the market rather than knowing why you placed the trade or what makes the trade valid , you just delve into the market with the sole intuition that the trade goes as you were told and then wait for your take profit.

However it may not seem like much but copy traders really aren't improving in their approach to the market especially in the aspect of technical analysis. Real traders who analyse by themselves place trades because the market at that moment obeys their confirmation. However a copy trader wouldn't really be able to tell is the trade has been invalidated.

You are right professional traders will do their own research and analysis because they are skilled, they learn nature and have knowledge and experience in trading so they make their own analysis. I am not a professional trader because I still often make mistakes in predicting, but I never follow other people's trading signals.

[bhadz]

No. It is not advisable at all because the seller of the signal could be a good trader but not at all times, the trades they make are profitable. Also, the benefits of getting signal is only good for the seller and the ones that make it but not to the buyers and people that are only awaits for the call. Don't rely on it, learn how to trade and use that signals money for you to start with with potential failures while learning trading strategies.

[Mia Chloe]

You are right professional traders will do their own research and analysis because they are skilled, they learn nature and have knowledge and experience in trading so they make their own analysis. I am not a professional trader because I still often make mistakes in predicting, but I never follow other people's trading signals.

Of course. Let's come to evaluate the whole stuff, you will notice that copy traders are usually people either not having enough time to analyse charts or aren't generally good at it and my resolve for that is to actually put in more time to understand technical parts of the market before placing a trade. Traders that copy trade are clueless sometimes apart from the fact that they set their SL and TP the really don't know when to manually exit a trade if probably something like an invalidation happens that will prompt a technical trader to exit.

Yes trading itself can be quite difficult especially when dealing with technical analysis but the truth is being a full-time copy trader isn't the best solution.

[milewilda]

You are right professional traders will do their own research and analysis because they are skilled, they learn nature and have knowledge and experience in trading so they make their own analysis. I am not a professional trader because I still often make mistakes in predicting, but I never follow other people's trading signals.

Of course. Let's come to evaluate the whole stuff, you will notice that copy traders are usually people either not having enough time to analyse charts or aren't generally good at it and my resolve for that is to actually put in more time to understand technical parts of the market before placing a trade. Traders that copy trade are clueless sometimes apart from the fact that they set their SL and TP the really don't know when to manually exit a trade if probably something like an invalidation happens that will prompt a technical trader to exit.

Yes trading itself can be quite difficult especially when dealing with technical analysis but the truth is being a full-time copy trader isn't the best solution.

Most of the time on which this is really indeed true on where those people who doesnt have that much time nor even have the plans on learning up trding on their own.
We do know that ths is something a skill that you wont really be that just simply make yourself to be able to learn up in a short period of time. It will really be that understandable
that you would really be that needing to engage up actively on dealing up with the market and trading up on according into the market movement.

[rizqillah]

Most of the time on which this is really indeed true on where those people who doesnt have that much time nor even have the plans on learning up trding on their own.
We do know that ths is something a skill that you wont really be that just simply make yourself to be able to learn up in a short period of time. It will really be that understandable
that you would really be that needing to engage up actively on dealing up with the market and trading up on according into the market movement.

As many people say, trading takes a long time to practice so that we have skills and expertise because it is not easy and takes a process to become an expert. It can even take 5-7 years to become a professional trader, this is what I read here comments from other members.

[alltalk]

I agree with your suggestion, we should have our own analysis and not have to rely on other people's analysis, if we only share analysis it is okay but we should not rely on it. If we have our own analysis we can learn and continue to train our skills in making analysis and predicting prices. Maybe we will become a professional in the future if we focus on it.

I think every trader must have the intention to have the ability to make own prediction. We will never be an independent trader if we always rely on other people predictions. If we always improve out ability in trading, it is surely not impossible that we can be professional traders in the future. Even we only become average traders, we can be proud because we do it with our own ways. But if we rely on other people ability, we will never be proud with our trading achievement.