If you must follow or use the services of trading signals providers

[xSkylarx]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

Following trading is really not bad unless you just do it blindly, like they say you will do without full understanding. You have a point, like validating it before making an entry, because that is where you learn, and that is when you'll decide to trade on your own. There are really times that you want to copy other traders just to give you an idea, like when writing an essay. You need to have an idea first before you can start out or know where to start, but that doesn't mean that you just rely on it.

[KingsDen]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

I always want it whenever someone is trying something out, they should have a good understanding of how the things work. For instance, anyone relying on signals should atleast know the market and charts, this will help the person to validate any signal they recieved. Someone who does know about trading will blindly follow signals and the ending will be an inevitable lose.

I remember when I lost thousands of dollars in acquiring and funding forex trading bot. I do not understand fully well how the forex market works and I could not control the bot. The bot ran on a very high leverage and blew my accounts several times. Someone who has good knowledge of the market would have made a better use of the bot.

[Oshosondy]

The best that a trader can do is to never depend on signals. The best thing that a trader can do for himself is to learn, have knowledge and experience about trading even if he wants to use a signal or not.

In the OP it said that you can use the trading signals providers as a way to learn how they analyze the movement of the market, so I disagree to never depend on signals when you can learn from them, and OP clearly stated that you can always compare their statistics to see which one you can benefit from the most, not everyone has to be a stereotypical trader that only relies on his/her wits and analytical thinking to do trading if there are tools that might be able to help you, shouldn't everyone at the least try them to see if it really does help them right?

I can not try anything related to signals, they are there to only make money from you and not about you making money.  There is nothing that a newbie trader wants to learn from signal providers than for him to be lazy and never learn but to be dependent on them until he realized that he is failing to make money from trading and later decided to learn.

[mvdheuvel1983]

I do not use any trading signal service neither am I in any trading telegram group. I haven't heard any good thing spoken off about trading signal groups. It has always been negative news, from members being scammed, dropping wrong signals and many other terrible things.

You enjoy trading when you trade yourself based on your own analysis, knowledge and style. The money you make from it will make you happy and even if you lose money at least you are not losing to someone else signals. As it has been said a million times, trading makes you a better and more experienced trader.

[Issa56]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday.

Why follow trading signals? If you want to trade and make money, then do the analysis yourself and be your own signal provider. I do see lots of groups on Telegram claiming they are providing signals, most of them only know the basics of trading, but they will start providing signals just to earn money, and people will pay for the fake signal. I see no reason why we won’t be able to dedicate our time to learning about what we are planning to be earning from. If you are a trader, you need to have passion for it, and your aim shouldn’t be to make money alone.

If you insist on using them, do not do so blindly, validate each signal provider by putting in the work.

Some people don’t even know how to validate a signal given to them, they just follow it blindly. Most people that I notice that do follow trading signals are people that are trading just because they heard from their friends that they are making money from trading, then they also decide to jump into trading without having the basic knowledge required, and they will end up looking for signals.

The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

Most of those signals are being paid for, don’t you think it’s a total waste of money? You have to recheck the signal and do your analysis again. Why don’t you just do your analysis from the beginning and follow it without paying anyone for that? It sounds somehow like you will pay for a signal, then you will re-analyse the signal.

[Pandu Geddon]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

I don't think there is a necessity to follow trading signals. maybe it will be quite helpful for those who lack skills in trading analysis. but to be honest it won't develop us.
even there are trading signals that are paid, no one will guarantee the success of the signals given. which is taken into consideration, ultimately also returns to us to carry out a more in-depth analysis of the signal given. and if you have been suggested by some successful initial signals, you may neglect to do more in-depth analysis and just follow the signals as they are.

[Dr.Bitcoin_Strange]

Although only a few of those channels are real and you are unlikely to even know the real one unless by luck, a trader must learn to even rely on their trading decision and strategy and even learn more trading strategy.

Recently, there was also a warning from one reputable member (the cryptovator) regarding the trickery of these signal providers. Here in the trading discussion board, such a topic is much needed. You can read it below.

Trading signal channels can be quite clever, so exercise caution !

[tjtonmoy]

What is your opinion?

Well, my opinion is, don't rely on signals. It is easy to follow or copy other's work and trade. But at this point, you are not trading. You are gambling. It becomes a 50/50 chance on win or loosing trade. And the worst thing is, you learn nothing from following signals. Unless, you are analyzing it on your own and comparing it with the signal. But using multiple services and comparing them with each other can increase the success rate of winning trades. You can verify correctly which is providing the best and most accurate results.

But as I said, never become dependent on it. It will lead to nothing but loss. Use it as a learning method. That will help you learn and give the best outcome for the future.

[carlfebz2]

What is your opinion?

Well, my opinion is, don't rely on signals. It is easy to follow or copy other's work and trade. But at this point, you are not trading. You are gambling. It becomes a 50/50 chance on win or loosing trade. And the worst thing is, you learn nothing from following signals. Unless, you are analyzing it on your own and comparing it with the signal. But using multiple services and comparing them with each other can increase the success rate of winning trades. You can verify correctly which is providing the best and most accurate results.

But as I said, never become dependent on it. It will lead to nothing but loss. Use it as a learning method. That will help you learn and give the best outcome for the future.

Literally gambling since you are really just following others signals and trading analysis on which you cant be sure whether it would be profitable or not. This is why its never been recommendable i would say.

If you do have plans on making yourself as a good trader then you should not really take this path on which making yourself that go with that easy go lucky kind of approach on your trading style
because copying someone is never been that a good thing on your part, not only on the sense that outcomes or results wouldnt be assured but you would definitely be having that kind of regret on the time
that you would really be that suffering huge losses just because you had copied someone. Unlike if you do make use of your own analysis and trading approach then the feeling of regret wont really be that bad since you are already accepting that you do made out a mistake and not something regrettable on your part.

Dont trust up on those signals and better start and trust your own analysis rather than on making yourself that heavily reliant with other calls and signals which it doesnt even assure
that you would be having that good winning or profitable rate.

[Rruchi man]

The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

You will be able to make analysis faster than the first time you try to do it as you continue practicing. A new trader does not need to be afraid of long time involved with proper analysis, they should be able to devote their time to learn and become better, than jumping the process. It is better you take long time on your own and make correct analysis, than be in a rush and make mistakes. Speed should not be the focus, accuracy should be.

It will be good for the signals from signal groups that you get to be what you use to confirm your analysis. If they tally with what you have analyzed, then there is a better chance for a better outcome, but if they do not tally, then it raises your awareness to double check to find out who is wrong, if you are the wrong one or the signal group is.

[Peanutswar]

What are you referring those free signals come from other people or come from the technical analysis with the strategy you are using in the tradingviews for example?, for me its consist of combination of those, with your knowledge coming from your research you can execute those and if you see the other peoples experience you can use those trades they made and prevent mistakes like they've been use before, also in trading there's a lot of signals, indicators you can use so you can identify with the next price movement, ideal to listen too came from experience but not as always to follow other people to prevent blames from those positions. Ride if you are sure and skip if you doubt.

[Hyphen(-)]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

This will be helpful if everyone follows this procedure before trading. Newbies will just jump into trading blindly, following the signals they were given without having any basic knowledge about crypto trading.

The best trading signal is to have a basic understanding of cryptocurrency and Bitcoin so that while following signals you will know what is right and what is wrong and you will be able to understand the market movement.

[tjtonmoy]

Unlike if you do make use of your own analysis and trading approach then the feeling of regret wont really be that bad since you are already accepting that you do made out a mistake and not something regrettable on your part.

This is what most people don't understand. When you learn to lose and identify your mistakes, only then you can work on those mistakes. If you are just copying or following others, you will not be able to identify your mistake. Worst case scenario, you will be blaming them for your losses. What will you do then? Move on to someone else? This is the mistake that they have been doing and learning nothing about real trading. This will lead them to their doom.

For the best experience and to achieve success, learning it on our own is the best option. We can not be the best version of ourselves unless we rely only on ourselves. The more we follow others, the more we will become dependent on them. The moment they are gone, we are left with nothing. This is why learning it from the ground up is our only option.

[Dzwaafu11]

If you must follow or use the services of trading signals which is not bad in itself you should do so smartly. By smartly, I mean that at the beginning it is all about following and understanding the thinking process behind those signals and learning everyday. If you insist on using them, do not do so blindly, validate each signal provider by putting in the work. Record their past four to six months' trades on a spreadsheet and check them on historical charts. After you have done this, you may now proceed to choosing the ones consistently in profit despite their losing trades. The advantage is that they will help you reduce your time spent in analysis. This is one of the best ways to make  use of or follow trading signals channels or services. What is your opinion?

I always say that people who use trading signals to trade are not classified among professional traders because these people don’t even know how trading works, and if they do, they won’t use trading signals. However, all this is happening due to greed; they are too greedy, and we all know greed has no favour. People who come up with these trading signals are hiding their losses to convince people to join in the run and to feed their pockets, so don’t even think of using trading signals to trade. Find a way to learn trading on your own, and you will earn money on trading. I can see you are about to come up with an idea on how to follow trading signals. I will advise you to trade on your own signals, which may not function properly sometimes.

[TimeTeller]

I always say that people who use trading signals to trade are not classified among professional traders because these people don’t even know how trading works, and if they do, they won’t use trading signals. However, all this is happening due to greed; they are too greedy, and we all know greed has no favour. People who come up with these trading signals are hiding their losses to convince people to join in the run and to feed their pockets, so don’t even think of using trading signals to trade. Find a way to learn trading on your own, and you will earn money on trading. I can see you are about to come up with an idea on how to follow trading signals. I will advise you to trade on your own signals, which may not function properly sometimes.

Instead of collecting all the information about their trades, why not try to learn on your own?
Analyzing all those data will already require so much time, and you won't even know how to trade afterwards.
So yes, it is better to learn those baby steps in trading rather than relying those people who are giving trading signals.
You can't learn how exactly trading works if you would just follow their suggestions. They are also humans who are relying on their instincts.
So would be advisable to learn the ropes in trading on your own, as you can use it later on when you want to make a living out of this activity.

[fauzan Ichsan]

I always say that people who use trading signals to trade are not classified among professional traders because these people don’t even know how trading works, and if they do, they won’t use trading signals. However, all this is happening due to greed; they are too greedy, and we all know greed has no favour. People who come up with these trading signals are hiding their losses to convince people to join in the run and to feed their pockets, so don’t even think of using trading signals to trade. Find a way to learn trading on your own, and you will earn money on trading. I can see you are about to come up with an idea on how to follow trading signals. I will advise you to trade on your own signals, which may not function properly sometimes.

Instead of collecting all the information about their trades, why not try to learn on your own?
Analyzing all those data will already require so much time, and you won't even know how to trade afterwards.
So yes, it is better to learn those baby steps in trading rather than relying those people who are giving trading signals.
You can't learn how exactly trading works if you would just follow their suggestions. They are also humans who are relying on their instincts.
So would be advisable to learn the ropes in trading on your own, as you can use it later on when you want to make a living out of this activity.

they also work to get a lot of followers and if it's wrong then there is no responsibility towards it, therefore learning gradually even though it takes a long time is not a problem, moreover we can learn to manage psychology by learning to be patient, when the time comes then we will face the market face to face real and just adapt to the real market. no success is achieved instantly, so we must be aware of it first before trading real

[justdimin]

Unlike if you do make use of your own analysis and trading approach then the feeling of regret wont really be that bad since you are already accepting that you do made out a mistake and not something regrettable on your part.

This is what most people don't understand. When you learn to lose and identify your mistakes, only then you can work on those mistakes. If you are just copying or following others, you will not be able to identify your mistake. Worst case scenario, you will be blaming them for your losses. What will you do then? Move on to someone else? This is the mistake that they have been doing and learning nothing about real trading. This will lead them to their doom.

For the best experience and to achieve success, learning it on our own is the best option. We can not be the best version of ourselves unless we rely only on ourselves. The more we follow others, the more we will become dependent on them. The moment they are gone, we are left with nothing. This is why learning it from the ground up is our only option.

This is such a great way to look at it, this is the perspective that people needs and I think it should be important to make as much profit from it as you possibly could. I am not saying that it will be simple, but that doesn't mean that you are going to end up with a great result just because you copied someone great. You could copy them for a while and what happens if they leave? You are going to bet all your money on the future of some other person helping you?

I absolutely would not suggest that at all. Everyone should learn to trade themselves, that would be much better for everyone without a doubt. In order to make it happen, you need to reach to a point where you could make as much profit as you possibly could.

[Japinat]

While it’s helpful to follow trading signals particularly those that are given by professional traders, but on the other hand the risk of losing is also high as you might end up being scammed because you fall on fake signal providers. This is what mostly happening especially for beginner traders as they tend to satisfy their greed first by taking the free hassle method, that is relying their trades from signal providers. As a result, when these signal providers suddenly gone, they will also lose the chance to become profitable from their trades. That’s why trading on your own is the best solution not to fall from scams and ineffective trading tricks.

[Russlenat]

Trading signals are mostly unreliable since no one is smart enough to make right predictions in a very unpredictable market. So I don’t suggest following those market trading signals regardless if they come from authentic signal providers or not. Instead, do your own diligence to learn in trading. That way, even if you experience consistent losses from your initial trades, that is just normal, as long as you’ve gained lessons from your losses. And just keep doing the right thing in trading, eventually you’ll improve your knowledge and skills, and make you a profitable trader in the end.

[uswa56]

While it’s helpful to follow trading signals particularly those that are given by professional traders, but on the other hand the risk of losing is also high as you might end up being scammed because you fall on fake signal providers. This is what mostly happening especially for beginner traders as they tend to satisfy their greed first by taking the free hassle method, that is relying their trades from signal providers. As a result, when these signal providers suddenly gone, they will also lose the chance to become profitable from their trades. That’s why trading on your own is the best solution not to fall from scams and ineffective trading tricks.

I think the risk is still the same, but for fraud to be carried out, it depends on the signal provider, sometimes it does or doesn't.
Most of them are new traders who don't have knowledge or are not confident so they decide to follow signals from other people, I think it's also likely the same but it would be nice while we learn so that we can finally decide to follow signals from the trust and knowledge we have we have, losing due to signals from other people and our own choices is different, even though we are both losing money, the impact we get is different, so it is recommended that we learn about trading and do it ourselves.