The danger of using online trading signals, for traders.

[Jaycoinz]

The issue is that some people are afraid of losing much money as a beginner so there choose to follow those online signals in other to get there profits but there don't know that is better to learn by trying to trade and get more experience than using online signals

If, as a beginner in the crypto space, and the first thought is to start trading, there must be something wrong somewhere. Trading is a game for the best players, and only those who are good at it will make profits from it.

Trading requires skills and effort, for someone who actually has good knowledge about trading can tell what a wrong signal looks like, not just to copy and paste. Knowledge is wealth; people don't go after knowledge, which is why they lose more than they should.

The only reason why people will have the confidence to copy signals and have the full confidence they would work out is that they actually lack the vision and understanding of how trading actually works. You say they are scared of losing money, so they copy trading signals from people that's the same thing as simply gambling away your money because there is absolutely no certainty. I have this mindset that everyone is out there to sell off their service and make money from the naive ones, and that's why they won't bother if you are actually losing money or not from the signals because most of the videos you see that gives people the confidence to go down this route are all fake or staged videos showing off their flashy lifestyle for newbies to get signals from them.

[Plutomanian]

There's nothing bad about taking signals but if that's all you do as a Forex trader with hopes to grow then you be are actually being very naive. You don't expect someone that doesn't know why a trade was called to know if an invalidation happens or if there's sake strike again in the market.

One thing most people refuse to agree to is literally almost everyone focused on copying signals are all in for the money. Taking Valid trades actually ought to be based on the information you are able to decipher from your chart not because of coordinates shared with you.

The market is not a place we come to joke rather it's a space for business and all seriousness. We should be able to practice what we've studied from signals and apply them to our daily trades. I wouldn't advise any one coming up to start trading with trading signals because that will only make you lazy and you won't be capable of executing trades without external help which is inappropriate. This is no longer the time to be holding on and wasting time but time to jam up and do what you feel is necessary.

Trading signals do help us to get acquainted with the market and how it operates do you know what trading signal doesn't help us to do? It doesn't help us grow with our own strategy because we're too busy and more focused on another strategy. The individual independence we're looking for will not be achieveable because we're copying trades and executing, I would rather learn to use mine and developed into a more formidable one.

[Gozie51]

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.

Good info but you for still help us share your personal encounter or story so that our people go get that part of scam artifice to get properly equipped against that particular experience.

However, na better warning you drop because I see some people wey dey always talk about starting trade within two weeks and buying expensive car in millions. All na lie but social media influencers dey promote them. All these skit makers don join dem to dey spread falsehood because they want you to use their codes and referrals.

Spend the time to learn everything you need about trading and you won't regret it instead of looking for short cuts that won't teach you any positive thing.

Na the koko be that oo. Me I no believe say signals na something reliable because that person too wey dey give am get how him take learn am either personally or AI. I don't believe any strategy to be perfect including AI. That is why persin need to put head and mind down to learn by himself and if it is not working then you walk away from it instead of following someone's channel that you still have to pay money, because it is not free. If you see dem posting videos and asking to click learn more link, they don't display all you have to know there. You still have to chat them on WhatsApp and they begin invite you for seminar. One way or the other, money go dey involved, as Dem say no free meal for freetown.

[EarnOnVictor]

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.

These are not enough reasons for you not to join or try signal generating outlets, for they didn't tell you that it's a quick means of making money. But I've never been a fan because they are all bunch of liars; their skills don't work, but only want to collect money from people in the name of signal generation.

However, I heard some are working fine, though I've not seen it yet, and I don't have a reason to try them; nonetheless, it is the reason why I wouldn't want those who are not good at trading lock up entirely. They say: "what you don't try, you don't know," and "if you no but lie, you fit no buy true."

[Barikui1]

One thing about waiting for trading signals before you trade is that you can never be able to analyze the market and trade yourself, if you continue doing such, and you can be doing that in the next ten to twenty years and still not understand how the market works, because you are still an ignorant newbie that knows only how to trade with signals.

The bad thing there is that you will accept any shit given to you because you cannot do any form of analysis yourself, which is very bad, and when you are still ignorant in the market, just know that you can be a victim of any circumstances because ignorance is more costly than anything else.

Person wey sabi swim suppose test the depth of the river with one leg first before him put the two leg.
One word dey ok for person wey get sense.

[Cossyblack]

These are not enough reasons for you not to join or try signal generating outlets, for they didn't tell you that it's a quick means of making money. But I've never been a fan because they are all bunch of liars; their skills don't work, but only want to collect money from people in the name of signal generation.

However, I heard some are working fine, though I've not seen it yet, and I don't have a reason to try them; nonetheless, it is the reason why I wouldn't want those who are not good at trading lock up entirely. They say: "what you don't try, you don't know," and "if you no but lie, you fit no buy true."

I have seen bunch of these trading schemes online but I don't know whether some them are reliable or not and I also went through their comments section to read feedback from people who have traded with their signals, almost everyone gave out positive feedbacks and only a few negative feedback was drop in the comment section.. I feel they can actually pay people to write positive feedbacks about their platform just to woo people.. I have not used their signal before, so such stories that some of those signal works fine would be difficult for me to believe. In a nutshell I prefer to trade on my own.

[rachael9385]

Trading signals has it's advantages but the bad sides of it outweighs the good and my reason for saying that is because as a beginner you can start out by using signals and also use this as a means to know how to trade but the downside to this is that if it eventually makes you lazy you would not want to put in personal efforts to learn how to analyze your own trades and as such that can make you have zero progress. Relying on signals can also result to double losses, after paying to get those signals there is possibility that you might end up losing the trade, the amount you used to pay for it and the capital used to trade will be lost. It is better to learn how to analyze the market yourself.

[Franklyn-wood]

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.

All you said is the truth because I personally have a friend who was scammed few years ago, we use to very close, he told me that he has someone who can invest can help him invest in Bitcoin and give him returns, I thought about and warn him not to involve in such business, the so called  trader went as far to convince him with some trading history and payment he made to others who gave him money to invest for them. My friend was carried away by the huge returns he was promised to receive at the end of the month and paid thousands of naira, at the end it was a sammm.
We should all be careful of the attractive offers that could riun us losing everything to scammers. They pretend to have good heart to help others grow with different intention.

[Proty]

This is correct. Traders make use of trading signals may feel it is easy to make profit from trading without a prior knowledge of what trading is, especially when they are making use of this signal. It is not easy for anyone to be able to predict the market movement perfectly whenever they trade. Therefore, it will be wrong to rely on others people signal while trading because this can result to massive losses.

The best thing for someone that wants to trade is to take time and learn about how trading works , this will enable them to be able to make their own predictions without putting too much hopes on other peoples predictions. Traders can use signal but they shouldn't rely totally on it especially when they lack the reason for placing such trade. And you are right, most of this people are just there to get money from people.

[Donk1]

Well as a newbie it's wise to ask questions. Even if you do not see someone to ask if it's right to use online signals to trade ask AI. It's probably the closest thing that can give you accurate information about specifics of crypto trades. Best to say now you understand that nothing comes easy. Even if the person you are taking signals from isn't a scammer if you enter a trade and you lose, you will only blame the person for it which is inappropriate, though. It's best to learn trading on your own terms so you can gain your own psychology and knowledge of the market instead of depending on other people. That said social media is becoming dangerous by the moment. People who see themselves with no other means of making money, due to the economy issues have all journeyed into scamming, influencing, hacking, and fake news. These are the major issues you have to be aware of when coming into this space, and under each, there are various techniques these folks use on their victims. So it's better to do your own research on whatsoever you are getting into. That's all......

[CryptopreneurBrainboss]

This is correct. Traders make use of trading signals may feel it is easy to make profit from trading without a prior knowledge of what trading is, especially when they are making use of this signal. It is not easy for anyone to be able to predict the market movement perfectly whenever they trade. Therefore, it will be wrong to rely on others people signal while trading because this can result to massive losses.

It's better to put yourself through all the stress of learning how to trade than to depend on signals, trading is something very serious and it should be given serious attention or you won't be able to benefit from the market. Signals only make you weak and teaches you nothing so why else do we need them. Becoming a professional in the market shouldn't take you alot of time but because of greed we put ourself in situation we should not be. Kill the assumption of needing others to fight our battle but instead develop the habit of doing things on your own as you stand the chance of gaining more experience that way. The problem with this online signals is that you become dependent on them and that is exactly their target to make more money of you.

[yixichloro2xx]

This is correct. Traders make use of trading signals may feel it is easy to make profit from trading without a prior knowledge of what trading is, especially when they are making use of this signal. It is not easy for anyone to be able to predict the market movement perfectly whenever they trade. Therefore, it will be wrong to rely on others people signal while trading because this can result to massive losses.

The best thing for someone that wants to trade is to take time and learn about how trading works , this will enable them to be able to make their own predictions without putting too much hopes on other peoples predictions. Traders can use signal but they shouldn't rely totally on it especially when they lack the reason for placing such trade. And you are right, most of this people are just there to get money from people.

Those kind of traders have been brainwashed by these trading influencers who usually showcase themselves on the internet. When the influencer post winning trades with huge sum of profits , beginners or non traders attention will be drawn into it. So these people will post their Telegram channels link for people to join , in order to receive sure trading signals. Most the channels are usually pay to join ( VIP ), where you have to pay to get access to those signals. If newbies or non traders could calm down and think, why does these traders have Telegram channels in which you must pay to join , if they are already rich. If they can think like, they will discover that most of these trading channels are scam . You are right, it's better to have your own trading analysis set up, so that when they get those signals, they can compare the two and make decisions out of it. Theres nothing like sure signals( just like I'm betting channels where they drop sure tips).

[Inior]

As a beginner trader the moment you start relying on trading signals you are going to start having problems when you start getting into trading and the reason why is because of the level of experience, the more you always depend on others to trade for you there's no way you can get the experience that you need to actually become a profitable trader. Another downside of depending on trading signals is that you might get scammed easily.

[Nasdel4]

The rate at which they carry out advertisment is suspicious, this is because not everyone is willing to share their secret on money making or even strategy. At the end of the day you will be asked to subscribe to be a member and that's where they make their money. The more people subscribe to be their channels, the more money they make. It's unfortunate that this is the situation, if you really want to be a profitable trader I'll recommend you first get some knowledge on how trading works, take some courses and I believe that will help in the long run.

[ejikeme24]

The rate at which they carry out advertisment is suspicious, this is because not everyone is willing to share their secret on money making or even strategy. At the end of the day you will be asked to subscribe to be a member and that's where they make their money. The more people subscribe to be their channels, the more money they make. It's unfortunate that this is the situation, if you really want to be a profitable trader I'll recommend you first get some knowledge on how trading works, take some courses and I believe that will help in the long run.

I totally agree with you on that, surely not everyone is willing to share their secret on money making. Because some feel that if they share their secret to people that they might be more profitable than they are or even become more Richer than them, but the truth is that everyone is not the same. There are people I mean traders who share their trading strategy for free, rather what they do at the end is just to ask users to subscribe to their channel. Of course I don't have problem with the subscription so Long as they are giving the right information, I think that's what matters. Or would you prefer to pay money to learn?

[PremiumcryptoHub]

As a beginner trader the moment you start relying on trading signals you are going to start having problems when you start getting into trading and the reason why is because of the level of experience, the more you always depend on others to trade for you there's no way you can get the experience that you need to actually become a profitable trader. Another downside of depending on trading signals is that you might get scammed easily.

As a new trader, you should never rely on online trading signals because there is a risk of losing capital. In fact I am discussing the fact that online trading signals should not be used by an inexperienced trader. The false claim of 100% accuracy, the lack of development of one's own skills, that is, if someone relies on other people's signals, he may not learn to analyze the market.

There will also be incorrect risk management, late signals, and mental stress and anger. So, I think everyone should create a mindset of learning trading through a demo account instead of relying on online trading signals, which will increase experience and increase the possibility of making profits from trading.

[MisFoxie]

~snip-

All trading signal groups are fake and a bunch of scammers. I heard from one of my friends that they use a kind of tactic, where they open 100 groups and in 50 groups they give buy signals and in 50 groups they give sell signals. This way when the market hits a signal at a certain time, for example if the group where they gave the buy signal pumps, they keep those 50 groups and if it does not pump they remove those 50 groups and keep other 50 groups which are correct.

Then again among those 50 groups they give buy signals in 25 and sell signals in 25. They keep giving signals like this, and eventually only one group remains where 100% of the signals were correct. Then they use that data to advertise that their signals are 100% accurate. After users join their group the signals they give from then on will no longer work.

[Call_Me_Guru]

You are right to point to this. It has not been easy for the victims in the name of wanting to make passive income. Some would want to make trading their main job for soft life if they could cracked the success code or find the reliable channel they can link to that will be giving them that easy money. But instead it has been the smart fake successful traders that has been making the money, milking those guys trying them out. Trading is risky and hard to crack. It is better to focus on investing than it. Bitcoin is there for everyone, all you have do is buy and safely keep it and watch your portfolio grow in years. Many traders learned the hardest way after losing big. They now fall back to investing after trying many things that didn't work.

[Franctoshi]

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.

Miss quote, “Not even some” but Majority of those promising signals out there are scams, especially on telegram group channel, a lot of scammers out there and you can only find few that are legit and they even don't do much of advertising on social media platforms because their trusted subscribeer help them in spreading the goodnews about their experience with following and subscribing to their trading signals.

[Nasdel4]

As a beginner focusing on the wrong things can be very dangerous if you intend to do something long term. There so called online signal group are just traps to liquidate and profit off desperate people who want to make fast money. Those signal groups are owed by influencers who work with brokers and get a commission from your trades. So my advice is that you avoid online signal groups and focus on learning growing one step at a time.