The danger of using online trading signals, for traders.

[Agbam]

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."

You’re sounding a bit contradictory here, hitting both sides of the fence. Following signals is a bad way to say one’s a trader because most of the people selling the signals aren’t even experts but people looking to defraud others.

When people hear that someone supposedly made it big in trading, they want to do that which the person did and that’s why people fall victim to these scams… They see screenshots of profits, testimonials, and supposedly successful traders and assume the same thing will happen to them.

But have you heard any real person who gave you a positive feedback?.. most of those feedbacks and reviews you see on their platforms are generated so you think people are winning in real life and queue in.

This method is one of the biggest and oldest scams in trading, I don’t know why people are still falling for that. It’s better to leave trading totally or take time to learn it properly before practicing.

[Bright0515]

There is absolutely no way you can tell if the people that are actually selling out these signals actually put in a lot of time to analyze their trades. Using online trading signals doesn't make you improve as a trader because you would not be able to grow or improve as a trader. Trading takes time to understand and it is not something you can rush into, I see a lot of beginners copying trades from others without even understanding what they are doing. I would not advice anyone to do this, it is better you start by learning and avoid trading during that phase.

[Loyang]

There is absolutely no way you can tell if the people that are actually selling out these signals actually put in a lot of time to analyze their trades. Using online trading signals doesn't make you improve as a trader because you would not be able to grow or improve as a trader. Trading takes time to understand and it is not something you can rush into, I see a lot of beginners copying trades from others without even understanding what they are doing. I would not advice anyone to do this, it is better you start by learning and avoid trading during that phase.

Yes, you are right, most of the newbies who enter the world of trading are more dependent on others than on learning how to trade. Some people aim to trade with signals and never try to learn how to trade. Such people cannot do much and cannot go very far in trading. Most of the signal traders are frauds. A person who can really earn money from trading and is successful in trading may never give signals to anyone.

Trading is not at all as easy as we dream or imagine, but it is much more difficult than we imagine. A person needs a lot of time to learn trading, such as a person needs to learn trading for 3 to 4 years. So whenever a person enters the world of trading, he must enter the world of trading with the patience of learning for 4 years.

[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."

You’re sounding a bit contradictory here, hitting both sides of the fence. Following signals is a bad way to say one’s a trader because most of the people selling the signals aren’t even experts but people looking to defraud others.

I guess you are the one who is thinking too much. Using an external signal to trade doesn't strip you of the title of being a trader, oh yes! And using an external signal doesn't automatically make it a fake or scam, as there are many factors to be weighed. You claimed that "many" of those selling signal are bad, did you say "all," which calls for caution in generalisation. As much as I dissuade people from using signal services, I am sure that, all things being equal, everyone can't be able to analyse the market and trade all by themselves. The luxury of time is not even in favour of many. All that matters is to carefully study who you are subscribing to, and more reason I prefer copy trading than buying signals.

[Doan9269]

The risk is not in using a trading signal, but in getting it wrong or interpreting it in the wrong way, which affects many traders. Sometimes the market can be deceiving, and if you are not careful, you are going to speculate in the wrong direction and end up losing instead of making profits on your trade. That is why we must not be emotional and also use psychological ability to trade after applying the indicators for final analysis, for better results.

[Futurexxx]

The risk is not in using a trading signal, but in getting it wrong or interpreting it in the wrong way, which affects many traders. Sometimes the market can be deceiving, and if you are not careful, you are going to speculate in the wrong direction and end up losing instead of making profits on your trade.

I agree with you that using trading signals from someone is not the main risk because you can verify for yourself and see if it's ok or not. Where the risk are is in your ability to verify the signal to know if it's actually good or not, because if you don't know how to do a proper technical and fundamental analysis, you will just be accepting any rubbish being handed over to you in disguise of a trading signals. So accepting trading signals from a random person online is not that bad if you knows how to analyze a chart or a trading setup, but if you don't know how, it's a wrong idea, because you ignorance will cost you more than anything else.

[Davidloki]

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.

For traders who depend on the signals of popular influencers to take an action will not have the ability to handle losses when they come, because they do not believe in themselves in the first place to think that they are incapable to executing a successful trade. Fear should be the first thing that any trader should eliminate before starting, because that's a silent killer.

A trader should get the trading experience for himself rather than relying on anyone. Many people who pose as traders online are scammers, not everything online is real.

[Egii Nna]

Trading if closely looked into, not everyone can trade when the mindset of making quick profit is the leading force. I have come to understand that wanting to earn well for the moment poss a higher risk than knowing the process at which earnings can be continuous over time. Learning before Earning is a long term investment you can ever make for yourself, but taking a shortcut of wanting to Earn before Learning will make you waste even more time and resources than expected.

Exactly that is why many of the beginners put high hopes in making profits from signals without learning and understanding how the market works, they are just trying to get rich off trading without putting much effort and it does not work that way. Mostly they look at people their age that have already got rich from trading and they want to be like them in a very short time and it does not work that way. If you spend time to understand the process and how it works then you can know how to make calculated risks.

[Zigabel]

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.

Not all the signal giving platforms are bad or fraud prone, there are actual real and legitimate platforms that gives actual and real signal, but the truth id that they are few and so we should be mindful the ones we subscribe to if we must, we can do our due diligence to get them verified and trust them enough to work with the signals they provide, but then like you have mentioned rightly, learning for yourself remains the best step to take and not waiting and depending on some signal giving platforms.

Learning and trading by yourself, thereby producing your own signals definitely gets you to be responsible for your results, learning and growth as you should, theses are things you will not get from the usage of signals alone. by the way it is important to state that the usage of signals isn't actually a way of cutting corners because there is some level of commitment you will have to show for effective usage of the signal service else you may still not get the best from signals and you will see you didn't cut any corners.

Signal usage has got two sides, it could give you good profits when you have a good knowledge and apply it well enough and it could also cost you a lot if you don't use it well enough to your advantage when they happen to be real and correct signals.

[Cityhunter34]

All those online signals no be person they give am or AI so why person go Dey trust something like that, sometimes e Dey work oo but na 50/50 something, person like me I no Dey trust those online signals at all I Dey always do my things by myself, one of the reasons why some people they always put more attention for all this online signals na because them no sabi how to trade and they won make money fast fast and to calm down learn how to trade na problem for them.
Me I go advice people to Dey careful if you Dey use online signals use trade if possible self no Dey use am at all just calm down learn how to trade.

I no know weather some people dey see am as stress or wetin I go call am self, because we suppose know say wetin you settle down do and the one wey another do for you no go be the same thing. Even though say na risky something, you get more higher chance if you do your own research and analysis, than for you to just put your whole mind for person opinion, knowing fully well say the business involves losses more than profit. Make we no dey wait for advice before we go do the needful things, because money dey very hard to get o.

[Somto9Light]

The risk is not in using a trading signal, but in getting it wrong or interpreting it in the wrong way, which affects many traders. Sometimes the market can be deceiving, and if you are not careful, you are going to speculate in the wrong direction and end up losing instead of making profits on your trade. That is why we must not be emotional and also use psychological ability to trade after applying the indicators for final analysis, for better results.

In other words you are trying to say that using wrong trading signal is not risk right. This is not true because a beginner might use the wrong signal and run into losses. I agree that market requires carefulness and good timing but you have to know that mistakes are inevitable as a trader so there are times when you will make a mistake and you try to correct it in the next trade but still find yourself making more mistakes. I am not a trader but I'm just saying based on what I have seen in someone who is a trader. He will often say that he made a mistake that is why he lost a trade but when he initiated another trade it still leads him to more losses. Trading is about profit and losses, that's why it is called trading. Nobody trades and makes profits throughout a trading session.

[Sammysmart001]

The risk is not in using a trading signal, but in getting it wrong or interpreting it in the wrong way, which affects many traders. Sometimes the market can be deceiving, and if you are not careful, you are going to speculate in the wrong direction and end up losing instead of making profits on your trade. That is why we must not be emotional and also use psychological ability to trade after applying the indicators for final analysis, for better results.

One of another risk with trading signal that users don’t really talk about is that even if signal itself is good that person following it may not even know when the setup is no monger valid, when to enter or even when to exit. Most atimes when market is moving quickly a signal can arrive late.

That why I would say that understanding the reason behind signal is very useful then for just copying entry and be hoping for a sake result. If things didn’t go as expected you should at least know what would make them to leave the trade.

[Glowy]

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.

Thank goodness you didn't fall victim. I want to believe some of them don't even know what the so called signal is. Once upon a time I was trusting those platforms but my intuition will always advice against engaging.
The good thing is, I didn't let greed get the best off me. I started studying by myself online still and I do not regret sitting up at night to read.

[Grace333]

Technically, not having knowledge about trading is already going to be a disadvantage to you if you get into it without taking out time to learn, you have a point on that but this doesn't mean that people don't benefit from using Trading signals. Before I started learning how to trade I remember copying signals and making profits from them but the only problem about this is that it is not sustainable in the long run. If you continue to rely on trading signals without gaining knowledge there's no way you are going to make profit In the long run, as a matter of fact you might actually end up getting scammed, most of these signal groups are owned by hackers and scammers.

[Cgrexp]

Technically, not having knowledge about trading is already going to be a disadvantage to you if you get into it without taking out time to learn, you have a point on that but this doesn't mean that people don't benefit from using Trading signals. Before I started learning how to trade I remember copying signals and making profits from them but the only problem about this is that it is not sustainable in the long run. If you continue to rely on trading signals without gaining knowledge there's no way you are going to make profit In the long run, as a matter of fact you might actually end up getting scammed, most of these signal groups are owned by hackers and scammers.

It is not impossible for a person to make some profit by following signals. Even a few trades can Profitable too  . But making a profit on a few trades does not mean creating a sustainable trading system in the long run. If someone becomes completely dependent on other people's signals without developing their own decision-making skills. Then they do not know why an entry is being taken at a particular time. Where to get out if something goes wrong and how to change their decision if the market situation changes. Signals can be seen as a source of information at most, not as a substitute for their own knowledge. Understanding the market, risk management and building capacity are essential in trading. Although it is possible to profit temporarily from other people's signals, it is difficult to sustain those results in the long run without their own knowledge and discipline.

[gracreavix]

Signals are not bad if the person has a good track record. Everybody hates signals because of the negative sterotype that came with it. Many who has done it before has experience first hand loss of money just because they fell into the hands of the wrong person. Instead of saying signals are bad. One should choose the one with good track record. But still it's best on learns something themselves.