Bitcoin Forum

Is it possible for someone to lose money while following profitable alt coin signals if bitcoin goes down?

What's best way to prevent it?

there are no "profitable altcoin signals" out there that you can use. there is only scam pump and dump groups that disguise their pump demands as a "signal" to cover the fact that they are scamming newbies and want to dump on their heads.

you should learn to figure out your own "signals" and follow them instead of looking for someone to take your hand and pull you through the market.

Why do you believe in the signals given on the telegram or from others? You are using your own money for trading, you are the decision maker so do not follow the signals from others. Stupid all the signs are the big traps created by whales.

The telegram channels that "gives" you signals is a bunch of scammers. That whole process is setting you up to loose even before you start.

Unfortunately those pump and dump signal groups look more professional now so it's easy to get suckered in. Keep away from these groups and just look at the charts instead. Look out for news like coinbase listings

Do you really believe that they really pumping the price ? They could buying with a low price before the signal start. and sell it later when the price pumping. Pump and dump group is only profitable for some peoples, not for all in the group.

In order to enter the group with quality signals you need to pay good money. Organizers are good analysts, but there are very few such groups and they are hard to find. Most groups are now just scam.

the best thing to do is to learn your self don't rely on other people to give you signals there are many kind of ways to earn money in this market

I never understood why people get so attracted to those groups. what s it about them that gets people "sucked in"?

It is best to rely on oneself. Do not let other people affect every decisions you make. Believing in oneself is still the best way to succeed. Relying to others is maybe lesser than 50% success.

I have lost so much money following these signal channels that i dont want to have anything to do with them.
This is not saying that all signal channels are trap.

It is very possible to lose all your investment while following fake signals. Most signals are fake and the purpose is to scam newbie and inexperience trader of their investment.The few quality signal groups are scarce and you need to pay fee to join. You can prevent loosing your money by DYOR and invest on coins you have adequate knowledge about.

Most of those signals as far as I can tell have a pump&dump purpose. They may work better in a bullish market but still are very dangerous when participating in them. I'd avoid it at any cost.

very good information to know about, because I think there are so many people using this kinda thing to manipulate someone, and just one question how do we know that those altcoin signals are scam or just a trap?

signals are only as good as those interpretting them. although an altcoin could pump at a certain time. when the 'player' turns it into bitcoin.
many things can happen al depending on which way it was arbitraged

imagine Alt X going up in price. ill show you how bitcoins USD price can go up, stay the same or go down because of it
altX->fiat->bitcoin  (bitcoinUSD goes up,  but then AltX has gone down after)
altX->fiat->altY->bitcoin  (bitcoinUSD remains flat, but then AltX has gone down after)
altX->altY-> bitcoin    (bitcoinUSD remains flat)
altX-> alty->fiat->altX->bitcoin    (bitcoinUSD remains flat)
altx ->bitcoin->fiat->altx (bitcoinUSD goes down. altx continues to go up)

i could play out loads of arbitrage routes people play daily.

remember this. by the time you have SEEN a arbitrage signal.. many players have PLAYED the arbitrage to cause the signal.


its like the old trading.
when a whale is announce the market is entering a "sell" zone.. the whale has already sold and waiting for the sharks and piranha's to drop the price so the whale can BUY at discount while the piranha are selling

The reason why you will lose money when the price of bitcoin go down is because of the relationship between the price of bitcoin in the entire crypto currency market. Bitcoin occupies a significant percentage to the extent that, when there is an increase in the price of bitcoin, it is expected that other altcoins will have to follow the same pattern the same thing applies when there is a drop in price and because most alts cannot go be converted to fiat directly without going through btc.


On avoiding it, you need to focus on alt coins that the price movement in relation to the prices of btc is not as sharp as others in that a general market increase might affect it but a downward does not necessarily means its going down or the effect would be fatal. Again, you need to do away with those signals and to do that, you need to ask yourself what is the gain of that individual giving the signal and what is the cost to those who will be ripped off which eventually might get to you.

Alright, so if you are hungry, can you trust MacDonald's and KFC to provide you nourishment every time that you need it? Or would you rather go and look for food of your own, perhaps even gathering ingredients of your own and cooking it yourself, using your own ideas?

Following signals is like blindly eating someone else's shit that they are trying to tell you is good for you. Try to learn about what signals are and how to recognize trends rather than just trusting these people who want to make money using your money.

Try http://babypips.com/ it's a good place to start learning.

I strongly advice to not use any signals in trading.people is using you on purpose like a dog. You never notice why some people say what wibe on pump if they have nothing kick back on it. In simple word, the one who will gain real profit is the person behind in that signals. Before giving a signal they first to buy at low price and said to people like you to buy much higher than his order