Now I see some Telegram group, They share margin signal for free.
What do you think about these group
Telegram groups that share "signals" are typically pump-and-dump scams. Here is how they work:
1. First, they decide what they are going to pump and then buy that asset slowly to keep the price low.
2. Then after done buying, they announce the "signal" for everyone to buy. (this is the "pump").
3. As all the members start buying, the price goes up dramatically and they sell at the inflated prices (this is the "dump').
4. When all of the members have bought as much as they can, there are no buyers left and the price plummets.
In the end, the group organizers make a bunch of money and the members are left holding the bag. Sometimes they sell "VIP" memberships because it doesn't affect the money they make and they also get the VIP fees.
