Better to have a trading knowledge than depending on signals.

[letteredhub]

Trading in crypto could be a difficult task that not so many persons involved in trading do actually make the kind of profits people assume that traders might be making when compared to investors that are only into HODLing. As a crypto trader a lot of serial capacity building in knowledge is needed on a daily as it is a necessity for sufficient and profitable crypto trading journey.

But, a wrong trend I observed among some group of crypto traders is that of a framework of so much interest in paying for trading signals stead of taking the pain in keenly learning  to build a robust knowledge about crypto trading.

As a trader that relies on buying signals, how confident are you about the continuous availability of those signals. Would they always be accurate and dependable?  Heavily depending on signals is parallel to same thing as someone else trading for you with your money. How ironical!

Don't get me wrong. I am not condemning buying of signals perhaps it would be more accrue-able, profitable and less vulnerable for you if you're knowledgeable in crypto trading and  decide adding up with buying of signals if need be. Learning about crypto knows no boundaries.

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[348Judah]

As a trader, you will need the full knowledge and experience from learning how to trade coupled with other trading indicators that could help you fastrack your trading experience and the required informations needed through the use of those trading indicators or signals, if we can afford buying some there's nothing bad while most are there for free, however we are to note this that the use of these indicators are not a guarantee means that we must have a positive trading experience by all means, we are expected to reminis on different data and statistics to arrive with a desirable outcome.

[Faisal2202]

Exactly, this is what i have in my mind from the start about these signals because at start i thought why we should give 20$ per month to a stranger to whom we only know via Youtube, and tryst our valuable money on behalf of there signals. But then i thought many people are doing it and they are sharing some of there VIP member's profits too in the group. So i thought i should calculate there signals's accuracy manually.

Well, by doing that, i have narrowed down some good signal provider, who not only provide the signals but also provide the back story of it, which is really good. Making money and earning both at the same time is what i meed and they are providing. But still i do not know why i hesitate to join them, maybe because they have asked us to come with a capital of 500$ if we want to start trading in spot.

Because till now, i have not manged to save that much money which i could risk. So from now i am just ignoring this and trying to learn on my own and tbh when you have a person (experienced one) near you, you grow faster. So i prefer there is nothing bad in following signals which tells the backstory of that signal too, but there is no benefit in following the signals with no background knowledge like why we are doing it and why we should set these target what premises are we calculating it on.

[palle11]

As a trader that relies on buying signals, how confident are you about the continuous availability of those signals. Would they always be accurate and dependable?  Heavily depending on signals is parallel to same thing as someone else trading for you with your money. How ironical!

Yeah close to that, like you pulling the trigger at the instructions of a commander behind you. I think signal patronizers are not really interested in the act of trading, to them the act is boring and they want to quickly go in for the profit. They go through this risk and not concerned with the losses if it comes. Maybe there is a set of class of traders like that, that only do copy trading while they invest their time in other businesses.

[slaman29]

First of all, better to say what I've always said before, even before crypto, even when forex was new. Signals are not guarantee of profit. They CAN be useful if used together with strategy as a sort of alert to follow your strategy anyway.

Same thing for gambling, people sell all kinds of arbitrage tips and signals (like trading but with odds) and you won't make money if you blindly follow them.

[EarnOnVictor]

I will not totally discourage a trading signal, that's if a good one is located. There are some that could be trusted, and there are some copy trade programs that are worth joining. But the best is to learn how to trade yourself, after all, you will be using your own hand to lose not that someone would cause the loss of your money.

Still, the question is, how many people have time for trading or can profit from it? It's easy to trade and be successful in your imagination than being practical, which is why they are looking for external help, and I will not blame them.

[Natalim]

That was bold and clear to understand OP. I know signals could help but not to the point of relying on them because they are just good at first but in the long, it was not helpful anymore and the people who got involved with this will benefit the most while the trader will get losses and less knowledge.
 - if we want to improve and succeed in trading, therefore, we have to stay away from these signals instead, do it on our own. Because it was easy to do TA when we have knowledge of the market and most especially in trading where profit can be unlimited. Unlike in the situation where we just rely on others' ideas and our future relies on them as well. If they fail, we fail the same.

[OcTradism]

Trading in crypto could be a difficult task that not so many persons involved in trading do actually make the kind of profits people assume that traders might be making when compared to investors that are only into HODLing. As a crypto trader a lot of serial capacity building in knowledge is needed on a daily as it is a necessity for sufficient and profitable crypto trading journey.

Knowledge itself is helpful but not enough. You must practice, if you don't practice, the knowledge you learned can not help you. From knowledge to practice is a long journey and you will need lot of time for practice to master what you learned. If you don't manage capital well, you will lose all capital in practice.

But, a wrong trend I observed among some group of crypto traders is that of a framework of so much interest in paying for trading signals stead of taking the pain in keenly learning  to build a robust knowledge about crypto trading.

They are lazy and want to go with an easy way but if they don't have knowledge and experience, lack of ability to manage risk and their capital, they will lose all very easily no matter how much profit they got from trading signals.

- if we want to improve and succeed in trading, therefore, we have to stay away from these signals instead, do it on our own. Because it was easy to do TA when we have knowledge of the market and most especially in trading where profit can be unlimited. Unlike in the situation where we just rely on others' ideas and our future relies on them as well. If they fail, we fail the same.

Traders must be independent in their thinking and decisions. Joining signal groups, receiving signals and depending on signals and groups are not good. If those signal deliverers are right with their analysis, you get profit but oppositely you will lose capital.

In addition, many people will buy coin before you receive those signals. They can be those signal group owners or members of internal groups and you will be like liquidity provider for those people to take profit more easily.

[Cryptomultiplier]

Of course it is way better to have the knowledge than waiting for signal to decide on. The knowledge in itself is however only justified by the right application.
Joining communities of like minded traders, following news and listening and reading articles can very much improve ones trading knowledge that it becomes very easy to follow the guts when trading.

The knowledge also helps a lot to save one from scammers who pose as buyers or sellers inorder to swivel you off your funds, but you having gotten the right knowledge and terms and learnt the tricks to catch a thief will soon learn that trading is beautiful with much gains.

[Taskford]

What signals do you actually mean?

Is that coming from a self proclaim trading coach? Or it came from a telegram group telling that they could pump a token or coin?

If you are a trader its good to know basic fundamentals or even get a signals coming from your chart since this could give you a possible hint to know the next move you wanna do. Compare if you only have knowledge on trading which is not actually enough since to many crazy conditions happened in the market and its hard to trade with it by having a knowledge only since you might caught up for not doing proper market analysis.

[xSkylarx]

Just keep in mind that if the groups that are providing you with signals disappear, you will feel void. Though there are still a ton of newbies that are availing themselves of those signal groups, we know that others are too lazy to learn trading or it is difficult for them to learn, which is why they just subscribe to those signal groups. But if that group just goes away and you don't know how to trade, what will you do now? For sure, you'll find another signal group that works for you. It is really better to rely on yourself than on someone else; it is a sign that you don't trust yourself, which is why you are just joining signal groups for the sake of profit.

[taufik123]

Knowledge is very prioritized, because if you trade without having the knowledge of how to trade and read the market well, then you are just trading without any foundation and just following trading signals that you don't know where to get.
That will be very risky to lose. There will be no one responsible if the signal makes him even more lost.

Should not just rely on signals from others. Learning to analyze independently will provide better knowledge than relying on others.

See how many people have lost because of wrong signals. There will be no prediction or signal that is 100% correct.
Even a professional can be wrong in reading the market, let alone just a free signal that will only trap someone.

[AnonBitCoiner]

Trading knowledge is very necessary because signals not always work and as you buy signals so sometimes you have dual problems like your signals will be wrong so buying and selling will take place in wrong direction and your money will be wasted by buying wrong signals.

I think those who have complete knowledge does not have any need to buy signals because they are experienced and they know what should be your next step. Experts not always buy signals but actually they use their own mind which should be a better way of earning so try to learn by yourself so there will be no need of spending money on signals.

[blockman]

You're right that if you've trading knowledge, whether there is a signal or none, you'll get there and you know what you're doing. So, let us say that there's a legit signal and you're able to make it. You'll understand more about what you must do whether to believe or not because you have an idea of what's the market situation.
But if you're just too reliant on it, you're likely to get fooled by those signals because those that release it can just give you fake ones or nonsense signals at all and they'll determine that the people that have availed their signals are gullible folks that will just take anything what they feed them.

[Stable090]

But, a wrong trend I observed among some group of crypto traders is that of a framework of so much interest in paying for trading signals stead of taking the pain in keenly learning  to build a robust knowledge about crypto trading.

How will you be planning to make money and you won’t want to dedicate your time to learn, if you are looking for trading signal in cryptocurrency trading, then you won’t be able to stay long in crypto, and I don’t even their is anything like trading signals, am sure those people providing the signals, if they really have it they won’t be stressing themselves looking for people that they will sell it to. Those people claiming they are providing signals are just after money, if you pay them they will recommend a random coin for you to trade, if you are luck then their guessing will be right and if you are not lucky you lose your money and they will apologize to you and recommend another coin for you to buy.

Don't get me wrong. I am not condemning buying of signals perhaps it would be more accrue-able, profitable and less vulnerable for you if you're knowledgeable in crypto trading and  decide adding up with buying of signals if need be. Learning about crypto knows no boundaries.

Am condemning buying signals, how will you depend on someone else before you make money, most people depending on signals will end up losing money in the long run, If you pay people for signal, then you are not in crypto space to learn but to make money alone, some people requesting for signals don’t really know about trading, they just hear from people that they are making money through trading and they also want to make money also that’s why they are always looking for trading signals.

Some people are always looking for trading signals due to laziness, they are not ready to do analysis on their own, they want someone that will do it for them and they are going to pay them.

[Hyphen(-)]

But, a wrong trend I observed among some group of crypto traders is that of a framework of so much interest in paying for trading signals stead of taking the pain in keenly learning  to build a robust knowledge about crypto trading.

The funny thing is that the majority of those purchasing signals had no knowledge of cryptocurrency trading; they simply heard that people were making a lot of money through cryptocurrency trading, and instead of learning enough about Bitcoin, they ended up fully relying on their trading signals, which mostly led them astray.

These signal providers are also losing money in bitcoin trading, but they never publish their trading history; they only show the once they have profited.

Before you begin trading, it is best to ensure that you have proper knowledge of Bitcoin trading.

[jeraldskie11]

I lost a lot of money when I first started trading and didn't know what I was doing. I'm really stressed, and then I discovered a trading signal group to see if their signals work. When I back read, I noticed that their signals were functioning because they were posting it. It encouraged me to join, but I was still uncertain, so I extended my observation period, and then I understood that they were merely posting a signal that only works. And I'm not sure how many signals failed. That's why I made the decision to learn how to trade by participating in a mentorship program. I never regretted my decision because trading your own money is far better than depending on trading signals.

[_BlackStar]

I lost a lot of money when I first started trading and didn't know what I was doing. I'm really stressed, and then I discovered a trading signal group to see if their signals work. When I back read, I noticed that their signals were functioning because they were posting it. It encouraged me to join, but I was still uncertain, so I extended my observation period, and then I understood that they were merely posting a signal that only works. And I'm not sure how many signals failed. That's why I made the decision to learn how to trade by participating in a mentorship program. I never regretted my decision because trading your own money is far better than depending on trading signals.

Reliance on trading signals only makes it too difficult for you to make decisions independently. The more you manage to profit from other people's trading signals - the more you will not believe in the results of your own analysis, even after you study them.

To be honest that I don't have such habits in trading - so I have to study and study for knowledge development instead of relying on others in decision making for my own trading plan.

[Captain Corporate]

It is "better" but also very hard as well, people need to keep remembering that part very well, there is nothing wrong studying like crazy when you are handling trading but that doesn't change the fact that we are talking about a huge amount of studying, so you need to be ready for that. Copying others signals and trading based on that will result with a loss, that's why we warn people to not do that, but you have to accept that its simpler, you just find someone and they tell you the signals so when to buy and sell, and you do that, and you hope to make a profit that way. The unfortunate truth is that if you do that, you will lose money, so you have to do the hard one and just study like crazy to become a good trader.

[jossiel]

As a trader that relies on buying signals, how confident are you about the continuous availability of those signals. Would they always be accurate and dependable?  Heavily depending on signals is parallel to same thing as someone else trading for you with your money. How ironical!

I am not one but I'll have my answer on the question.

Those that are relying on signals aren't confident of their own selves. It could be a big help to them as it makes trading easier based on the signals that they have.

But not at all times that it will be good as what they think even if they're bought as the premium offers from those providers. Pretty much that most of them are just plain analysis by someone who knows how to trade better than the starters.