Signal trap, a self-conscious scam

[The Cryptovator]

I think every one of us knows about the trading signal group. But are we aware of the trap of signal groups? How do they scam us? Although they aren't scamming you directly like a Ponzi scheme. But self-consciously we are handover our funds to them. Let's explain it shortly.

First of all, each paid signals group has a free signal group where they will share a few free signals and post a few news updates. Most paid signals channels are just a group of candidates. Before they share a free signal on the free signal group they post it in the paid signal group. As a result, the signaled coin pump for a few minutes. Once they share that signal in the free group the free subscriber thinks they could gain if they join in paid signal groups. Actually due to sharing the same signal in many paid groups a coin pump for a few minutes since they are a group of candidates. That's how signal providers always motivate their free subscribers to buy paid signals. But eventually, the signal buyer realizes that they just scammed.

So guys don't fall into the trading signal trap. I would like just to encourage you to get updates from their free signal groups. Don't trade just based on their signals. I know a few signals sometimes gain, but you wouldn't be lucky enough to enter at the right time. Don't lose your fund with the signal trap.

[CryptopreneurBrainboss]

I would like just to encourage you to get updates from their free signal groups.

I would consider this a mistake from your part but if you meant this then I'm sorry but i just have to opposed. As a previous victim of signal groups when I thought trading was the way I could get to my goals faster in the industry, I can tell you there's no good from these so called signal groups not minding if they're paid or free. Nothing is actually free when you think about it. This signal groups owners are only just enriching themselves and their closet pals at your expense.

It's quite easy to spot the scammy nature of this signal groups with their so called testimony been posted all round twitter with trending hashtags, don't fall for their tricks. If you want to become a trader, learn the skills it ain't hard to get the basic and you use your experience to better yourself. There's something that turned me off with signal groups.

When their signals don't go as planned you lose twice. You lose your funds and also loses the experience you were meant to gain from that mistake that would had helped you in future to prevent similar mistakes. You're killing the trader in you by not analyzing the market yourself. You must not know it all to start but get the basic and the rest will be history provided you have the determination and discipline.

[zasad@]

I have access to such analytics and this is not a pump and dump scheme (although this also occurs if you are offered to buy an unknown token or coin).

How it works?
Many good analysts publish reviews in paid groups, and cunning resellers buy access there, create their own groups and, through good advertising, resell this information to others.
There are no guarantees for making a profit, but there are many who wish even now.

I am against this, because you will forget how to think and analyze the market, and in the end you will lose.

[Charles-Tim]

It is hilarious to see someone that want to go for day trading and like signals, that is just the dawning of its failure because the trader will surely lose and lose over time. Even if someone have to make use of free signyal, he must already been an expert, if not an expert, the person will definitely lose, whike paid signals are complete scam. What I just noticed is that there are good and bad time, many of the day traders will have no option again than to go for swing trading which is less risky but still risky, while some will become experienced and know holding will be better. It has always been good to learn trading by oneself, this is the best way to go, with time the trader will know the best choice after starting with very low amount of funds.

[Coyster]

Even if someone have to make use of free signyal, he must already been an expert, if not an expert, the person will definitely lose, whike paid signals are complete scam.

I know not all traders are on the same par, some are better experienced than others due to more research and learning, but I'd try as much as possible not to refer to them or call any trader an expert, at least for the sake of newbies, some of these signal groups have scammed quite a lot of people impersonating themselves as 'experts', newcomers in the network are always hungry for experts to teach them how to "get rich quick" which is the first mistake they make, but in the long run, they learn there are actually no set in stone experts in the network, but that must be after they have lost some money.

[Bitcoin_Arena]

Pump and dump signal where so popular back then during the times Bittrex was a popular exchange. I followed some signal telegram channels, but never risked using the signals to trade. What I realized later was it was a coordinated Pump and Dump scam whereby the perpetrators would first buy a low cap coins and then make an announcement of the incoming pump at a specific time in different free channels followed by thousand of traders.

The traders in the channels would then rush to buy the coin due to FOMO and the end result would be that the price pumps and while it's pumping, the perpetrators then dump the coins before other traders think of selling it.

[cryptoaddictchie]

Ive encountered countless trading signal like this and I could say that their demonstration is really tempting and enticing. Imagine showing you a good trend chart on how then enter and exit perfectly. If they really got that then they are good. However, I assume there is a modus behind this.

I admit Ive tried to rely on free signal but I never paid any of those paid group cause like wtf trading isnt complicated as long as you knew the basic. Its not bad to join paid signal lile this as long as you are capable of their fee and earning from those but if not? Whats the point right?

[sheenshane]

I've joined once before when I was new in trading but I'm much more oriented here in the forum more about the signal group that they aren't good to trust either it is a free or paid signal group, they are kind of a trap to new traders.  The organizer of the group or the leader will get more benefit on this so I don't think if it is worth it to join this pump and dump group.

Thank you for sharing your idea, this will give warning the newbies that either the paid or more worst the free signal group aren't worth it join, members will always have late information during the price forecast.

There might no a victim of a trap like this if every one of us already warned about their strategies and how the pump and dump group will work, much better if we avoid them as much as possible and instead do our own research and bear in mind that trading isn't easy of making money.

[CryptoHeadlineNews]

Thanks for the advice Sir. I have been a victim of this twice, all in the name I needed fast cash and ended up losing my hard earn fund to those scammers. But I am now wiser enough to surpassed them.

[dansus021]

I think every one of us knows about the trading signal group. But are we aware of the trap of signal groups? How do they scam us? Although they aren't scamming you directly like a Ponzi scheme. But self-consciously we are handover our funds to them. Let's explain it shortly.

First of all, each paid signals group has a free signal group where they will share a few free signals and post a few news updates. Most paid signals channels are just a group of candidates. Before they share a free signal on the free signal group they post it in the paid signal group. As a result, the signaled coin pump for a few minutes. Once they share that signal in the free group the free subscriber thinks they could gain if they join in paid signal groups. Actually due to sharing the same signal in many paid groups a coin pump for a few minutes since they are a group of candidates. That's how signal providers always motivate their free subscribers to buy paid signals. But eventually, the signal buyer realizes that they just scammed.

So guys don't fall into the trading signal trap. I would like just to encourage you to get updates from their free signal groups. Don't trade just based on their signals. I know a few signals sometimes gain, but you wouldn't be lucky enough to enter at the right time. Don't lose your fund with the signal trap.

believe me its happen to me

i have dozen different signal group but actually they same, same signal different channel and their payed signal is kinda expensive thousand dollar price

and usually their signal is alreadyy runingg. ex. buy price now ~ when canddle already breakout

[Darker45]

To newbies, I'd rather encourage you ditch all signal groups, free or not. If a group is labelling itself a pump and dump group, leave it and forget about it. If a group is calling itself a trading signal group, leave it and forget about it. These groups do not make sense 99.9% of the time.

A newbie is better off learning the art of crypto trading himself/herself and create his/her own signal. It's a hard way but learning how to read charts, use different indicators, come up with a sound TA, closely monitor fundamentals, and so on is the safest and most effective way to go.

[pooya87]

In simple terms you can say that a "signal group" is the same old "pump and dump scammers" in disguise. They used to be honest and call it a "pump group" but after a while since people recognized the scam they had to change the name to something that looks more legitimate so they chose "signal group" instead. It is the same way ICO scams turned into different names to be able to keep scamming people.

[Porfirii]

I suppose that you can still make some money from these groups as a "customer", but the further you are from the people who make the signals, the harder it will be for you to earn and not to lose...

Anyway, I would try to avoid them for myself at all cost, and encourage everyone else to do the same.

[Bitbtc8]

Safe yourself the hassle and learn trading yourself cos 99% of trading signals are scam, you won't know until you end up been the one losing, when it comes to making money there is no short cut if you have this in mind you won't be seeking for such

[The Cryptovator]

I would like just to encourage you to get updates from their free signal groups.

I would consider this a mistake from your part but if you meant this then I'm sorry but i just have to opposed. As a previous victim of signal groups when I thought trading was the way I could get to my goals faster in the industry, I can tell you there's no good from these so called signal groups not minding if they're paid or free. Nothing is actually free when you think about it. This signal groups owners are only just enriching themselves and their closet pals at your expense.

It's up to you either you consider mistakes or not. My concept was to ignore any kind of signal. But if it's really needed may get news updates from such channels. Of course not from the paid group. I don't see anything wrong if you get a few crypto-related news updates from any channel. So you will have an idea of what's happening in the crypto market lately. For any other purpose, I will discourage to use updates for trading. It's quite dangerous for newbies traders.

[Pmalek]

These signals (if you want to call them that) are already old news once they get to you. Once you have the info, the coin they were supposed to pump might have already reached its upper limit. I wouldn't trust them, free or paid. The owners are members in other signal or pump and dump groups, and there is no way of knowing if they got the signal from someone else. They could also be getting their information for free by following certain traders via social media, TradingView, or something like that.

Nothing beats learning how the markets work yourself and becoming experienced enough to read which way they will go.   

[20kevin20]

Signal groups were a big trend back in 2017. The group creators buy before the pump and sell before the dump, they're always in advantage and you have no way of being in the same boat as them. Signal groups are nothing but 1-2 people getting rich out of fools.

[Peanutswar]

When I was a newbie in trading mostly I joined the different groups just to gather information and some of the people sharing their signals, profit, and losses so by that I try to get an initial knowledge but in the first place the forum already give me a warning about this kind of activity some of the members suggest to learn by my self and not become dependent to the statement of the other so I follow that then from the group I joined there are a lot of newbie trader makes an invest and continuously asking the thread about the upcoming trend and signal so they can invest too. By that at the end of the month, most of them lose almost hundred of dollars and now asking why their money is losing. I decide to leave that group because of having false information now I stand on my own to make a trade.

[CryptopreneurBrainboss]

For any other purpose, I will discourage to use updates for trading. It's quite dangerous for newbies traders.

Better, black should be called black and not not black-ish, initially when I read your post on you saying 'you encourage update to be taken form free group' without second thought the message any newbie reading this will be getting is that, free signal groups are ok to join which isn't true. It doesn't matter what the statue of the group is be it paid or not, they're all basically doing the same thing.

The only advantage the paid groups get is that, they get the updates beforw the free groups gets it, which might giive them better advantage to profit from the pumps and dumps the groups engaging themselves in with disguise of actually trading. If you what update on development and news regarding the industry, we have news outlets that those that and you can follow without having to join signals groups. They'll just decieve you and sooner or later you'll be tempted to give them your money to join their so called paid groups due to the false testimony you'll be seeing.

Prevention is better than cure, avoiding all groups is the best method. Even the so called trading groups where initially was just meant to be a common ground for traders has now been highjacked by shillers, shilling worthless crabs for their selfish benefits.

[jcojci]

Unfortunately, people are greedy and think that they can make a big profit so they join in that paid signal group. I can say this because I joined in that groups and fortunately, the group offers a low payment so I take it.
At that time, I joined in many free trading signals and I observe that almost 90% of that groups has the same signal at the same time. So I think this is ridiculous, how they can have the same signal at that time. So I decide not to follow the paid trading signal instead trying to learn trading for more. I would say that learning trading is not easy but that is worth to do because even if you can not become a pro, at least, you can make a profit.