The danger of using online trading signals, for traders.

[Olotu20]

My naija people I say make i bring una this thing way I observe ooo. And that is following online platforms which gives trading signals, I almost made the mistakes of falling victim to these online platforms which gives trading signals. Trading is a complex thing and anyone who wants to trade in Bitcoin or any other trade should find out time and learn and stop looking for Conner to make quick money by following signals given to you via online platforms which to my observation some of those platforms are even run by scammers.


No one grows by cutting Conner so , the reason why traders should not use online trading signals because this act can lead to you losing huge capital before you could even realize which will be too late and the worst of all there is high danger of you getting scammed by these platforms.

[Churchillvv]

Personally, I think you should have given a case scenario for trading platforms that have wrong information or wrong signals, but however I have personally experienced it from a very well known forex trading influencer, when I spoke to my advisor who is also a guru in trading he pointed out all the wrong things and have told me that no wealthy information comes for free that made me disregard everything that has to do with all this people who call themselves traders online. Hence I urge everyone who is involved in trading crypto not to skip any process by looking for someone who already know to give them free or paid signal, instead learn and loss money then know the experience or get someone a mentor to direct your path to make it easier.

[TokenTikas]

No one grows by cutting Conner so , the reason why traders should not use online trading signals because this act can lead to you losing huge capital before you could even realize which will be too late and the worst of all there is high danger of you getting scammed by these platforms.

People who use online trading signals are definitely not experienced traders because experienced people never go outside their own analysis to follow online signals. Normally, trading signals are supposed to come from proper market analysis and before taking any signal, there are many things a trader needs to follow which are usually not included in online signals.

Real traders never depend on these kinds of signals because if someone wants an easy way to lose money for no reason, then using online signals is enough for that. Professional and experienced traders do not use these online signals, and I personally do not use them too.

When it comes to trading, I always give maximum priority to my own analysis because even if I lose money based on my own analysis, I can still accept that the result came from my own decision. But if I lose because I depended on another person’s analysis, it will be hard for me to accept, and that is why I do not use online trading signals.

[Donneski]

I've witnessed so many of these platforms who advertise how they give the best signals for traders to make huge profits, and at a time, I once used my own money to subscribe for signals and just like many people who had experienced what it, it didn't end well. The best thing for anyone who wants to trade is to carefully learn about how trading works, build discipline, go for the strategy you can perfectly utilise and trade. Most of these people parading themselves as trading experts with the best signals knows very little about the crypto market, they just want to convince you to pay money and at the end, you'll lose trading with their signal because there's nothing special about them.

[Rruchi man]

My naija people I say make i bring una this thing way I observe ooo. And that is following online platforms which gives trading signals, I almost made the mistakes of falling victim to these online platforms which gives trading signals. Trading is a complex thing and anyone who wants to trade in Bitcoin or any other trade should find out time and learn and stop looking for Conner to make quick money by following signals given to you via online platforms which to my observation some of those platforms are even run by scammers.

Some of these platforms are not run by scammers; some of them are run by the mentors, that is, the people that have trading academies where they claim they teach people how to trade. I have once paid a fee to learn trading from a so-called professional trader. I noticed he didn't teach anything different from what I already knew from YouTube. At the end of the mentorship, he was trying to introduce me to join his VIP group, where he sends signals for people in the group for a fee monthly. I was unhappy with him because what then was the point of the class? Imagine how many of his students he will be able to convince, students interested in quick wealth.

[Karl_3000]

I prefer to let people know that they should avoid trading because I know how trading is very dangerous. It is not easy like they will let it look, it is better you let the bull market to be over and start buying bitcoin. Holding bitcoin and not losing money is better than trading and lose money.

About this trading signals, it is better people should avoid it because the people that are giving the signals only want money from the newbies. The newbies are the products that give the people that are giving signals money. That is where they are making their money from.

[Decimetre]

Are there people that still believe those online mentors? Majority of those guys are attention seekers with nothing to offer when it comes to trading. So many of them only parade being trading teachers and scam people of their hard earned money and if you follow them continuously, you will not only loose your payment for the lecture, you also loose money you stake to trade. Most of these online stuffs are influencers trying to grow their page. So personal judgement and selective testing would be very important to make the right trades and minimise losses to a barest minimum.

[Hypnotizer]

My naija people I say make i bring una this thing way I observe ooo. And that is following online platforms which gives trading signals, I almost made the mistakes of falling victim to these online platforms which gives trading signals. Trading is a complex thing and anyone who wants to trade in Bitcoin or any other trade should find out time and learn and stop looking for Conner to make quick money by following signals given to you via online platforms which to my observation some of those platforms are even run by scammers.

Trading itself is one of the most riskiest if not the riskiest thing in this space, and that’s why for someone to believe some platform to have a signal that would definitely makes him some profit, that’s delusional because you can’t actually predict the market and even if sometimes the signals actually make profits or work then I can say it’s probably luck.

Most of the people wey dey enter trading think say nah once dem go make an like all their social media influencers wey dem dey see as role model, so that’s why most of dem no go even stay really understand the entire thing.

Just as @Karl_3000 has always emphasized, trading isn’t actually something you should venture it especially at this point in time, it is even statistically proven that most traders lose money..

[LOVER BOY 422]

My naija people I say make i bring una this thing way I observe ooo. And that is following online platforms which gives trading signals, I almost made the mistakes of falling victim to these online platforms which gives trading signals. Trading is a complex thing and anyone who wants to trade in Bitcoin or any other trade should find out time and learn and stop looking for Conner to make quick money by following signals given to you via online platforms which to my observation some of those platforms are even run by scammers.


No one grows by cutting Conner so , the reason why traders should not use online trading signals because this act can lead to you losing huge capital before you could even realize which will be too late and the worst of all there is high danger of you getting scammed by these platforms.

Trading is 100 percent gambling that's the more reason why we should not embrace trading but investing in a long time Bitcoin so that one can easily learn and make profit in a long run and not by trading , Bitcoin investment is also risk but enbacking on trading is more risky than buy Bitcoin investment using DCA the risk you will get here is minor risk compared to when you are trading and only hoping for every dip to invest on.

[Sammye3]

I've witnessed so many of these platforms who advertise how they give the best signals for traders to make huge profits, and at a time, I once used my own money to subscribe for signals and just like many people who had experienced what it, it didn't end well. The best thing for anyone who wants to trade is to carefully learn about how trading works, build discipline, go for the strategy you can perfectly utilise and trade. Most of these people parading themselves as trading experts with the best signals knows very little about the crypto market, they just want to convince you to pay money and at the end, you'll lose trading with their signal because there's nothing special about them.

This is so true, because I'm a victim of this cheap scam too. There is so much benefit in learning how to trade from scratch without depending on anybody for signals because that would help improve your confidence abd understanding of the market. There is absolutely no harm in acquiring knowledge but most people are just too lazy to discipline themselves to learn skills and scared to make new moves.

[Princess Leah]

 It's almost same thing aa believing the prediction of so called punters that claim to have sure betting tips then tell you to pay for vip channels where the main winning codes would be sent, the difference is that the expert traders are called mentors since they share their analysis and signals with traders that are inexperienced.

 Well it's not bad to have a mentor that can guide one but paying to get signals that are not guaranteed is where the scam is and people shouldn't fall for that. Sometimes the best way to learn is making research about certain things on your own and you'll figure that you'll understand better than the basics which those mentors would end up teaching when you paid heavily for advanced knowledge.

[Fiatless]

Trading itself is one of the most riskiest if not the riskiest thing in this space, and that’s why for someone to believe some platform to have a signal that would definitely makes him some profit, that’s delusional because you can’t actually predict the market and even if sometimes the signals actually make profits or work then I can say it’s probably luck.

Most of the people wey dey enter trading think say nah once dem go make an like all their social media influencers wey dem dey see as role model, so that’s why most of dem no go even stay really understand the entire thing.

Just as @Karl_3000 has always emphasized, trading isn’t actually something you should venture it especially at this point in time, it is even statistically proven that most traders lose money..

It is on record that trading is risky and more people lose money than gain. But there are still people who make money from crypto training. This set of people have been able to master trading skills that help them to manage their risk and make gain. My advice to people who have interest in trading is to spend time learning about the rudiments of that field.

Regarding online trading signal groups, some of them are fake. These so-called trading experts lack the required knowledge and are interested in funds they could raise through registration. I would also acknowledge that there are others who are sound and could give valuable trading information.

[Webutxo]

My naija people I say make i bring una this thing way I observe ooo. And that is following online platforms which gives trading signals, I almost made the mistakes of falling victim to these online platforms which gives trading signals. Trading is a complex thing and anyone who wants to trade in Bitcoin or any other trade should find out time and learn and stop looking for Conner to make quick money by following signals given to you via online platforms which to my observation some of those platforms are even run by scammers.


No one grows by cutting Conner so , the reason why traders should not use online trading signals because this act can lead to you losing huge capital before you could even realize which will be too late and the worst of all there is high danger of you getting scammed by these platforms.

I'm not sure if the trading groups I used to joined on the telegram are still in existence but I can tell you that those things were never profitable on the long run. Whether you do follow them short or long term, it doesn't yield any money, it's better you don't even try it. I notice that when the market that they predict to make profit goes down, they will quickly take their money and live the group, sometimes they update the group late with trades after you have loss.

Trading is hard we know, but there is nothing that is difficult that a man knows that you can't do yourself. As long people can do it, you should be able to do it too. There is no need to follow any signal either for free or paid. I noticed that paid groups that we have too are pure scams, you may win some money in the beginning but after a while you start to make loss and if possible the owner of the paid group might not even drop update again. My experience with signal group didn't end well.

[Exitoral]

From my experience about trading. I have indulged in online signals. For a fact, I can tell you it won't go well in a long run. I took a trade and the signal giver didn't tell us the lotsize to use or how much must be in our account to do that. I did have a little knowledge of those things. But what made me stop signal taking was when I entered the trade and immediately my account was wiped out. Only for me to check on others and some said they are in profit. Some said they were wiped out also. I just said to myself, never again.

Also, most signal providers are scammers. Take your money for a fee to provide you signal that will not work at the end. It will give you profit here and there just for hope. In a long run, you'll quickly find out you are not making as much. Most times it will be in losses.

As you have outrightly said learning the skill will pay you more in a long run. Notice the way I always emphasis on it being profitable to you in a long run. Long run there is what I want to point out. It won't make you rich over night but eventually you'll see the result of you staying dedicated In learning the skill.

Not saying every signal provider out there is not making his or her subscribers money. Another point I want to say is that, what if the person decides to stop sharing that signal. It will be a problem on your side because you will think that taking signals is the way and you might fall into the wrong hands that will hurt your pocket.

Not saying you shouldn't take signals that are legit. But as you do that, try as much as possible to know how the person does it. You'll thank me later.

If you also have used signals, I would love to here other people experiences.

[sokani]

Some of these platforms are not run by scammers; some of them are run by the mentors, that is, the people that have trading academies where they claim they teach people how to trade. I have once paid a fee to learn trading from a so-called professional trader. I noticed he didn't teach anything different from what I already knew from YouTube. At the end of the mentorship, he was trying to introduce me to join his VIP group, where he sends signals for people in the group for a fee monthly. I was unhappy with him because what then was the point of the class? Imagine how many of his students he will be able to convince, students interested in quick wealth.

That's the scam. It's called deception. Some of these guy are no different from people who will collect your money and disappear. I believe he has been sharing his good trades on the public channel and flashing his wealth to convince people into thinking he's good and when you joined his class, you made your own discovery. I have one like that on my Telegram. He charges N300k for his training class and N150k for his VIP signal class. I have never joined any of them, but what you said just confirmed my suspicion about him. Regarding trading signal, I just hate being hand fed. If I cannot learn trading myself, it's best I stay away.

[Tetu100]

As much as I know the online trading signal have no useful effect that can influence a positive result to any trader. However, i see it as a formality that can only make a trader to lost more money if is being carried away. I normally, I don't usually get involved in trading because I have always known how fast it can make me lost on a long run so what I do is to avoid it. Though you can be thinking is a fastest means of hitting big but the outcome is something that isn't encouraging. Lastly, to all newbies that got their eyes on large and fast profit, be careful with trading if necessary is better you stay off if you really want be safe in the system.