beginner trader: Are trading signals and bots worth it?

[traderdyl]

Hi All,

I am a long-time advocate of cryptocurrency (mined my first bitcoins back in 2010!) but I have only ever worked/developed websites for customers for crypto and never traded. so I am a complete beginner when it comes to trading for profit but I would love to try my hand at it.

So recently (about a month) a friend introduced me to telegram Crypto Trade Signal Groups and said a few made him a ton of money (although I have never seen that proof). So I sign up for the VIP package of these signal groups. sets me back about $100 altogether and then I subscribe to the suggested Cornix bot which automatically trades on the signals these channels send. This was quite promising for me and I felt quite excited. Now a month has gone by... my portfolio has had a 2% increase and I'm now being asked to re-subscribe to Cornix and the signal groups.

So my question is really, Are they ever actually worth it? has anyone ever made much profit from these "premium" signals other than the people that run them? or could it be how I have the Cornix bot set up?

I have followed some guides but I wonder whether I should try and commit the time to learn to trade manually without the use of Bots? It's just a nice idea to have passive income while I am at work and asleep.

Appreciate any response and always happy to receive any educational material you think would be useful for me.

edit: money <> crypto

[boyptc]

Quick answer for trading signals: NO

Honestly, I'm interested to know what happened to the first bitcoins that you've mined then on that year? if this is a real story, you don't have to mind about trading if you still managed to hold it.

But since you're asking about trading, I guess you've spent most of it already.

A bot is helpful if you know how to manage it as it automates your strategy but it doesn't mean you'll also get automatic profit from it. But I haven't heard that one you mentioned.

[traderdyl]

Quick answer for trading signals: NO

Honestly, I'm interested to know what happened to the first bitcoins that you've mined then on that year? if this is a real story, you don't have to mind about trading if you still managed to hold it.

But since you're asking about trading, I guess you've spent most of it already.

A bot is helpful if you know how to manage it as it automates your strategy but it doesn't mean you'll also get automatic profit from it. But I haven't heard that one you mentioned.

I appreciate the quick and honest answer. I think I will leave it in that case.

Actually accumulated over 2000 BTC back when... sold it for what it was worth at the time (under 1$) as I needed to pay my rent. never did HODL, the biggest mistake of my life, and still makes me sick to think about it.

[Innerpumper]

Using bots is the right choice when having a lot of busyness, If having free time learning to get signals manually is the best thing, we will get it a lot of knowledge by learning technical analysis, learning some very helpful indicators, it's a lot of great.

[carlfebz2]

Actually accumulated over 2000 BTC back when... sold it for what it was worth at the time (under 1$) as I needed to pay my rent. never did HODL, the biggest mistake of my life, and still makes me sick to think about it.

Well, it sucks to hear it up mate but we cant really go back into the past on stopping those decisions.Even myself did sell out some bitcoin on earlier times.I never intended to make

hold in the future because i do actively try to sell out as long i could able to get some profits and thats my priority but those situations also really pisses me off.

Missing chances or opportunities are commo and only to those who do able to held up are the ones who had make out some serious profits on here.

On the question if trading signals are worth? No, they arent. Bots are for automation not for generating money.

[Scripture]

Using bots is the right choice when having a lot of busyness, If having free time learning to get signals manually is the best thing, we will get it a lot of knowledge by learning technical analysis, learning some very helpful indicators, it's a lot of great.

If you’re greedy enough and want to trade even if you have a limited knowledge about trading, then BOT can be a good solution you just need to use the default settings but you should understand that BOT is not guaranteed at all and you can still lose all your money. I don’t trust any trading signal, you still need to confirm it and its too risky for a newbie if they just follow it without analyzing on their own. Trading is hard, don’t make it harder on doing so without the proper information, you have to learn how trading works in order to succeed.

[cryptolord2077]

If we talk about trading bots, then they only make sense if your own speed on the exchange is not enough for you. Thus, the trading bot will be able to neutralize the human factor during the execution of transactions so that you do not suffer from lightning spills in the order books. However, if you are looking for a bot that will bring constant profit through automatic trading itself, then most likely you will not find a job like that.

[Quidat]

For bots then its useful if you are a type of trader who dont usually go in front of their pc and make out automated trades with that basing on what you had set on.
This simply means that you would really be needing knowledge on operating such stuff or else then you would just mess out your trading which i can say that
bots are optional or does depend on what you do need or according on your preference.

For trading signals then these are things which i cant trust because i'd rather trust up my own analysis rather than trusting on others.

[traderdyl]

Thanks all for your answers. It's common sense really but it is refreshing to hear it.

I agree with Scripture. My mate sold it to me on the premise its easy passive income, but I think I will halt the bots and actually learn myself, once I get to grips with how it works then if I need a bot at least I will know what I want it to do... half the configuration of the bots currently just goes over my head.

[logfiles]

Only 2% and yet you subscribed for a month?  Heck, I made more than 2% within a day in the recent XRP pump  in spot trading minus any signal or bot

The point is most signals are fake/scam. As for the bot, I have never heard about it. There are a few legit bots vouched by so many reputable people, but the fact is you need to have some knowledge of the kind of strategy you would like to use and you also need to know how to input the strategy into the bot, otherwise if it was that easy, we would be having so many millionaire bot users, wouldn't we?

[Luqman]

If you are a beginner that uses small funds only, you absolutely don't need a trading signal group premium. The signal group premium is for people who use a quite big amount of funds and they just use it to ensure what they will do for their crypto assets. I can say is useful but not guarantee you to be successful in trading. Anyway, since you are still a beginner, you are better to learn how to know the signals yourself. It will be much helpful for your trading future, trust me.  

[Wexnident]

RUN AWAY. Well, that's always the first thing I think of when someone offers me trading signals, but hey, it's actually up to you but honestly, trading is based on your own strategy, so if that's your own strategy then feel free to do so. Trading is just based on your own understanding of the market after all, but you're using bots so not really something you can learn from I suppose. Both short and long-term, trading signals are just ways to suck up your money, it's like subscriptions in Youtube/Netflix etc., except the latter makes you happy, the former? Not so much.

I agree with Scripture. My mate sold it to me on the premise its easy passive income, but I think I will halt the bots and actually learn myself, once I get to grips with how it works then if I need a bot at least I will know what I want it to do... half the configuration of the bots currently just goes over my head.

to avoid it.
Bots are okay to use I think, though if you're paying for them I don't think it's worth it? I'm pretty sure you can get a bot (or configure one) yourself after a few months of studying it. Bots are just automating your strategy so I see no need to actually avoid them. If you can do your trades yourself then that's better, but if not, then bots are still an option.

[zanezane]

If they are free and you know that there is no strings attached then you might as well go for it, I mean if you want to have a more convenient time doing trading then have a bot do the hard work for you, signals though that would be another story because a lot of these groups that "provides" signal aren't really doing anything and most of the time they are the only one profiting from it.

[tbct_mt2]

Trading is hard and it is a big challenge for people who don't have patience and react from emotions. They are losers on the market if they trade every day.

Holding or hodling can be good for all people as the importance to get success and profit is do your investigation and choose a good cryptocurrency to invest, hold and take profit. Bull market is an ideal market for holders.

Traders who are impatient will give up their plans and buy crypto when they FOMO and it will kill them. They will be kill if they open leverage trading positions with high leverage.

Trading signals, forget your success or fortune which can be easily gotten by dependence on others.

[Strongkored]

Actually accumulated over 2000 BTC back when... sold it for what it was worth at the time (under 1$) as I needed to pay my rent. never did HODL, the biggest mistake of my life, and still makes me sick to think about it.

I was curious about how you could sell your BTC, because it was not like now you can use exchanges and there are many choices.

What is often wrong in traders' thinking is the paid signal or even free signal and using a bot is a guarantee of getting a profit, if you have to buy a license for the bot and you don't understand how to set up a bot then the bot will not run properly and you wasting money to buy the license. Sometimes using bots is more complicated than manual trading, so in my opinion, paid signals and bots are not really worth it

[TheUltraElite]

The signals groups feed on your cash and thus run a shady scam.

I dont know how much your trust your "friend" - but this is not the first time I hear someone join a signals group due to their friend's suggestions and then forced to get into their "paid" segment.

Being honest, trading needs knowledge and skills that only a trader can learn by their own efforts not by copying others. Besides how can you trust someone else with your money in this sector where nobody is willing to show their real faces?

But this is how these signals groups make money. They sell memberships - but there is no proof or so to make it sure that buying a membership means you will profit. These groups are also the source of coordinated pump and dump schemes.

Like others have said here, the short answer is No. If you want to trade, learn it yourself. If you want to make a bot, develop it yourself. Never trust others to do this for you even if you pay them.

[pooya87]

Think about it yourself, why would any expert who can spend their time making good profit from trading waste that time creating trading signals every day or every hour to let others know what to do?
The reality is that those newbies who can't make profit from trading start selling signals to other newbies so that they can make money from that instead of trading themselves!

Actually accumulated over 2000 BTC back when... sold it for what it was worth at the time (under 1$) as I needed to pay my rent. never did HODL, the biggest mistake of my life, and still makes me sick to think about it.

Selling bitcoin is not a mistake, selling all the bitcoin you have is.

[boyptc]

Quick answer for trading signals: NO

Honestly, I'm interested to know what happened to the first bitcoins that you've mined then on that year? if this is a real story, you don't have to mind about trading if you still managed to hold it.

But since you're asking about trading, I guess you've spent most of it already.

A bot is helpful if you know how to manage it as it automates your strategy but it doesn't mean you'll also get automatic profit from it. But I haven't heard that one you mentioned.

I appreciate the quick and honest answer. I think I will leave it in that case.

Actually accumulated over 2000 BTC back when... sold it for what it was worth at the time (under 1$) as I needed to pay my rent. never did HODL, the biggest mistake of my life, and still makes me sick to think about it.

Ouch.

I was even thinking of those few btcs that I've sold a few years ago and they're not even a lot and I'm feeling bad to myself. But well, you're much more in what I feel.

Thanks for sharing btw.

[acener]

If you want to learn trading then I would say No to signal group,
For me trading signal are for those who are lazy to study the market or trading so if you plan to learn how to trade properly then I suggest to take your time studying it.

[AicecreaME]

I don't have any idea about trading bots so I'll give my opinion on trading signals. Trading signal is good as long as you know who you're copying. Traders who provides such service should have a trial signal for assurance of course, and then after that, the subscription will come next, just to be fair. But you should put in your mind that not all of the signals are always gonna bring you early Christmas, sometimes it's heartbreak, but that's normal in Trading.

You'll not be a good professional trader without losing any penny on it. If you really wanted to take trading as your profession, then don't stop learning and trying.