beginner trader: Are trading signals and bots worth it?

[Yamifoud]

Bots defitinetely have advantages. There are two important point, I think you should be aware of:

1.Bots can be as much as useful in your own hands. I mean you need to know idea behind the bots and how to use them in your favor during your trading. Bakctest and papertrade them first see the micro and macro shortfalls and fix them and test them again. If you consider the bots  something like a magic wand, just turn it on and let the money flow in, I strongly do not advice you to use bots.

2. The platform you are using in order to create your bots, I would suggest the well known and transparent platforms. I personaly prefer platforms that lets me create my own bots and test them out. I dont really prefer some shady bots that are created by someone else.

That being said, it is the answer to why the majority don't have the interest in buying Bots, paying signal trading because we don't have trust with them. If you don't trust them, it gonna be the same as the other thinks about them. It simple, why not having our own, of they can do it, that also possible that we can make it. And might they are doing this to trick us and to fool us.
But if you don't have knowledge about trading, about crypto, seeing this word "instant" seems to be eye-catching that usually noobs actually being a victim.

[blckhawk]

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.

That's quite a lot, if you hold it till today you probably became a millionaire by now but well we don't know exactly what's gonna happen so I can't blame you for that besides, we all have been committing the same mistake and we all can do is to move on with it and learn to form it. Anyway, regarding trading signals and both, I'd say if you have still no enough knowledge of trading then trading signals could be helpful at least rather than losing a vast amount of money but bear in mind that there will be a time these signals won't work. Trading signals aren't that bad but why not learn it yourself so you don't need to spend a few bucks upon subscription, we're are all just doing the same thing anyway, they also conduct some analysis so why not do it yourself.

[Yatsan]

It depends on the signal group you were currently in and also depending on the trading bot you are up to because some are just a waste of time and some seems to be legitimate. Well, if you are in no call to have trading bots and to join signal groups because you tend to learn from experience, then it will save you up from spending money from membership fee for them providing you guidance on your trading journey. Yes, it is a risky thing to try out learning by yourself trading but basically it is where all the big traders have started with. Do not rush things out of how you wanted things to get into. Better learn it slowly and take it into a process for you might do it better having to manage your trading by your own not depending on signal groups and trading bots.

[doomloop]

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.

Well, I have been hearing about telegram signal groups for long but I haven’t seen any evidence at all that any of these sites really works, to me it seems like they don’t work, it’s all just tactics for them to be making money for themselves, and some of them can even take their trading history to convince you to join their telegram groups and pay for VIP services that wouldn’t be heading to no where.

But it can also be possible that there are legit ones around, but if was you I wouldn’t be subscribing for that again lol, if I have not been able to cover up what it cost me to sign up for their services the first time, then what’s the need for me to subscribing again for their services ? It is not going to make any sense because I am the one losing. I will say you should try out copy trading , and check the history of the professionals there and be able to tell if they are good or not.

[Vaskiy]

There are users who have got success through signal groups. Same as that there are users who have lost/got scammed using the signal groups. Based on this we can't come to a conclusion about trading signals. From my view, learn the basics of trading and slowly increase the capital into trading than believing blank the trading signals.

[Becky666]

I don't think i need trade signals for my trade, there are several of them out there but many are fake while little seem to fall under luck (guess), so, i don't need them for any reason of such. Have been into this industry quite sometimes now and those signals they have shared to me personally and in groups seem not good, so, i quit using them to my detriment as a trader. The better you understand the rudimentary the better for your career in trade, so, get a mentor for your trade signals and monitor him/her for time you will be more perfect TA.

[goldade]

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

Well, as you obviously have learnt through your subscription to that premium signal group, I'm sure you now know that it's not worth it.
I believe that people who look for trading signals are only looking for a way to make quick money since they don't want to go through the rigors of having to learn how to trade.
The best way to actually get the most of trading is to learn how to trade by yourself. If not, you'd only be spending money on subscribing to signals only to get little returns at the end of the day.

[rodskee]

Those paid Trading signals in some way is legit but not all of them because i have read some cases that claiming they are being lured to scamming from those trading signals provider.

i have also joined some of them(But of course those free only) but only has 1-5 % accuracy and majority is crap advises .

So if you want to try with this then better be on the risk management so you won't spend too much in losing.

[imstillthebest]

your goal is to earn passively but that will only be possible by the help of a trading bot and not by manual trading .
 its been a month since you subscribed but why you only earned 2 % ? i think 2 % is small for 1 month of trading but atleast your not in a negative position  .
 you can give it another shot by subscribing again and see if your profits earned will be better this time but if not , thats the time you unsubscribe and find more worthy groups for your money

[SquallLeonhart]

i think 2 % is small for 1 month of trading but atleast your not in a negative position  .

After making use of trading bot, not getting into negative earning must be good thing when someone is looking for passive earning. Because, earning even 1% out of no efforts will be a good thing but in long run how consistent it will be, is a billion dollar question here. AFAIK, no bot will be consistent in terms of profit making; but when it will be staying in positive side then it will be a very big achievement on search of passive income generation.

Those paid Trading signals in some way is legit but not all of them because i have read some cases that claiming they are being lured to scamming from those trading signals provider.

What you heard is absolutely true. Because, some signal providers are reselling other's signal and this way they are selling one subscription to many to gain easy money. In the case of effective signal that will not be a problem (still it will be an offensive act) but when they are reselling ineffective signal then that will risk many peoples' hard earned money.

[ipanks]

Maybe that is worth it, but it is hard to find a legit trading signal because the paid trading signals are only available in a limited number of people in a group as far as I know. Not many of them will want to share legit information about what coin will increase or share their analysis with the members. I see many groups in the telegram use people to attract them to buy a coin, and after the price starts to increase, they will use the benefits for themselves. So if you really want to use the paid trading signals, you need to be careful because there is no guarantee that you always make a profit from their signals.

[Silberman]

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

Commit your time to trade manually, 2% in profits is really nothing and many traders can obtain that with a single trade and not a month, now I will be direct trading is really hard and there is a big chance that you will lose money but even then signals are not worth your time, almost no one makes money with those groups, after all if they were that good then why give signals when they can just trade by themselves and make themselves rich in the process?

2% calculation seems easy to achieve, but sometimes a trader also experiences floating not as expected. therefore our attitude will determine, not to be selfish in playing a role in this kind of condition, so as not to be dragged along more and more. and must be able to immediately move on in such conditions

I understand that even earning 2% per month can be really good if you are able to maintain this kind of profits in a consistent basis but that is the point, that is not something that you can maintain by using those kind of signals and it doesn't make sense to use bots to automate your trades when you do not really know what you are doing, there is a reason why most books about trading recommend that at first you learn how to do it manually and yet people want to skip that step not realizing the mistake that they are making.

[fahmimajannat]

Sometimes but not all the time.
Bots and signals may works lots of time but it better to depend on your knowledge and ability instead of someone else.
So learn and then trade.
It will be far better than depending on others or any programmed bot.

[darewaller]

Nah, man I think it’s always best to avoid all these trading signal stuff’s and just learn how to trade yourself. My friend did this same thing, they called it a VIP trading signal and it was a group that was on telegram and they were lots of people saying that they give best trade signals, so he hopped on it and after one month he was even the one losing because the most of the signals that they were giving were totally wrong so he had to quit and leave the group.

So I can’t tell anyone that these signals are right, but I do know maybe there might be some of them out there that are good, but they will be hard to find. Although I do understand that no one can very much predict what will happen in the market, so the signals they are giving you is still under probability, they feel that’s what is likely to happen, so they give you the signal. I think right now copy trading is becoming the next thing, I have not tried them though, but I look forward to doing that soon.

[FanEagle]

Maybe that is worth it, but it is hard to find a legit trading signal because the paid trading signals are only available in a limited number of people in a group as far as I know. Not many of them will want to share legit information about what coin will increase or share their analysis with the members. I see many groups in the telegram use people to attract them to buy a coin, and after the price starts to increase, they will use the benefits for themselves. So if you really want to use the paid trading signals, you need to be careful because there is no guarantee that you always make a profit from their signals.

That is the correct answer, is there a legit one? That's the real question. I mean I have used so many trading bots in my life, from 2016 to 2018 I have used maybe 10 different trading bots, some for long time because they were making money (thanks to bull run of course) and some were short because they made a loss. And I can tell you that most of them are not even legit, they are quite bad and that is why we are here and not making any money at all.

This is why I think it is quite important to realize there are only handful of (maybe 2 at best) trading bots that really work, they work as in they do what they should, doesn't mean that they make profit, if what you programmed them to do doesn't work, that means they will not make money, but they at least work like they suppose to and you can configure them to anyway you want and they will do that without problem, even that is great in trading bot community because most can't even do that and give error.

[semobo]

Sometimes but not all the time.
Bots and signals may works lots of time but it better to depend on your knowledge and ability instead of someone else.
So learn and then trade.
It will be far better than depending on others or any programmed bot.

I agree with your answer but not with the logic, its okay to start trading by following others because it is easy and no time involves but it should not be done via the signals, you can do copy trading if you are not getting any profits even after trying too hard. But everything needs knowledge and expereince.

[cryptolord2077]

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

[Vaculin]

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

[TastyChillySauce00]

Trading signals honestly are just speculation. I mean, what could anyone do without internal information regarding some projects and capital?. The market itself always choose some random coins to get pumped and these signals provider are too small to affect high market cap coins aswell.
 Even if it's warren buffet that gives out the signal there's no guarantee that the trading signal gonna be correct and a trading signal that's 100% correct and always accurate are those signals that are created by pump and dump group which means market manipulation but of course they definitely gonna take advantage of the people who follows them blindly. But in the other hand could help you making some trade based on your preferences, bot in my opinion is worth it if you are like me who really getting tired of watching the market 24/7.

[cryptolord2077]

In order for crypto signals to work, you must understand one thing. Crypto signals give you information that, with some degree of probability, may or may not come true. Most often, it comes true, but often it does not come true. That is, for 100% of signals, the bottom of which will be only 60% positive. But which of these 60% are the same signals you will not know, therefore, in order to make money on crypto signals, you will need to make the widest possible coverage, that is, try to use all the information that you are given to enter each signal.

Has it really works on you mate? Coz I was in the doubts and never have the interest to try this kind of services. Maybe, if there is someone who could confirm that is legit, that is possible that it gains some attention but seeing there are only a few tells that, it finds to be just a trick. Or maybe they don't know how to use this or are new to trading.

But as you have said, it finds a lot of works needed to do which makes new traders aren't able to cope up. And if this is true, I'm for sure it never gives interest to traders as they like an easy way as possible.

Yes, it works, especially on an uptrend. A good group of signals is something like scalping, they tell you which coins will grow by 5-20% and you fix the profit in parts, 50% orders for 5% growth, 30% of the deposit for 10% growth, and so on. They tell you what coins, but not when. Thus, you need to wait, you can place an order today, and it will work in a month. I've never had enough patience. In general, I consider a group to be good if 60% of its signals hit the target, and the remaining 40% are closed by stop loss.