Crypto Vigilante is...?

[dAppsSolutely]

Hey, I was looking for advice on another thread and, in response to a question of mine, someone said something about it being immoral to buy their service.

First, of all it's so nice to hear that the investor class has morals. The rest of us were beginning to wonder. Only joshing.  


But, could someone explain why someone might think that? It's the first time I've heard it. Thanks


I searched the forum for their name and it returned results, but nothing about them exactly that I could find.

[1715671442]

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[1715671442]

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[1715671442]

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[Maus0728]

As far as I am aware, those are a group of people who claim to have insider information in the cryptocurrency market, which they use to gain a significant amount of profit in terms of trading and investing. They also claim to inform you whenever there is a significant movement in the market, which is similar to how trading signals work.

Perhaps the reason why other members said that buying their service is "immoral" is because what they are offering is too good to be true, and relying on signals and insider trading does not make you a good trader. Trading, you see, is an art form in and of itself, and it is being harnessed on a daily basis not only by newcomers but also by those who make a living from daytrading.

Most people here are also opposed to trading signals in any form because they provide no benefit. Selling trading signals is a popular way to get money out of people's pockets these days.

[hugeblack]

I do not know what you mean by your topic (it is not clear,) but if you mean trading signals, describe it as unethical because it is sale something in exchange for something that is not guaranteed.

It is like receiving the price for an unidentified commodity and the second party may lose based on your information. Despite that, you sell it to him and try to convince him that your words are 100% accurate, then the takes the risks according to your information.

In general, I consider it an old scam method to attract people who are trying to make a quick profit or beginners, but it is nothing but a fraud.

[dAppsSolutely]

Thanks everyone!    ...except for the, apparently legendary, numbskull who thinks the question wasn't clear.    

So, it sounds like nobody really knows anything, it just seems like cheating to get signals (if they worked). And, anecdotally people hear that others who try them don't fare well... so they don't work.

Hmm.


I was so excited to get started coding up trading strategies and signals in tradingview using pinescript. It looks like it may even be possible to connect these things with machine learning to create a sort of AI based strategy. Exciting stuff, but I'm only beginning to learn about it all.

I hope it's not morally objectionable to try to program strategies that can give indicators.  I mean, if we can't use math and science to make sense of nature, then what is it for? 


Maybe there's some confusion about people thinking that these strategies would or could ever work 100% of the time.  I hear anything over 60% or maybe even less means it's profitable. The idea is to build one that can predict better.


I get what you're saying though.  Nobody has been able to create indicators that work reliably.   But, that's a bit YET, right?  And, you guys wouldn't be mad at a coder for trying would you?

[LeGaulois]

I don't get why some persons think it's unethical. Banks or brokers do the same and nobody is shouting about it. Because to reminder you, they sell signals, create algorithms, and so on...( not guaranteed either) They also sell for example life insurance plans (and other types of investments plans) and it's not guaranteed.

Why should it be unethical when we talk about cryptocurrencies but not with traditional finance?

It's true most of the paid signals groups are a waste of time but there are a few that are worth it. The difference is such groups cost a lot higher and are very limited to a circle (a random guy can't enter in as easy as 1,2,3)

I hope it's not morally objectionable to try to program strategies that can give indicators.

In my eyes, it's not.

[dAppsSolutely]

I don't get why some persons think it's unethical. Banks or brokers do the same and nobody is shouting about it. Because to reminder you, they sell signals, create algorithms, and so on...( not guaranteed either) They also sell for example life insurance plans (and other types of investments plans) and it's not guaranteed.

Why should it be unethical when we talk about cryptocurrencies but not with traditional finance?

It's true most of the paid signals groups are a waste of time but there are a few that are worth it. The difference is such groups cost a lot higher and are very limited to a circle (a random guy can't enter in as easy as 1,2,3)

I hope it's not morally objectionable to try to program strategies that can give indicators.

In my eyes, it's not.

Thanks. I've only heard good things about both the dollar vigilante and their crypto spinoff thing.  If it wasn't so expensive I would have tried it already. ha