Cryptocurrency Investments Part VIII. Cryptocurrency trading signals.

dimav1246 (44)in #cryptocurrency • 4 years ago (edited)

Hello everyone,
Thousands of digital currencies are traded on the market. Estimates of various instruments by experts may vary diametrically. Making decisions in such circumstances can be extremely difficult. For "profitable" trading, more and more inexperienced traders use trading signals.
Identifying them yourself can be very difficult. However, you can use the help of other market participants. There are entire portals about digital coins. Their task (ideally) is to help less informed traders and newcomers to the market.
Cryptocurrency signals published on Telegram channels are very different. Some sites report entry points in short positions, others - long. You also need to consider that there are channels that disseminate information, both on a paid and free basis.

The main thing that you should understand is that:

The digital coin market is the most volatile and unstable. Therefore, cryptocurrency trading signals are not a panacea.
High-quality trading signals are rarely shared for free. Since their formation takes a lot of time and effort. Free crypto signals are not always accurate, and it’s unlikely to make good money only on them.
It is in principle impossible to accurately predict the behavior of some instruments. Also, no source will give you one hundred percent guarantee that their signals will be correct. Always keep this in mind when making decisions.
First, make sure that the source of the trading signals is trustworthy. Only after that, you can use the information received from him to complete transactions on the cryptocurrency exchange.
Not every paid resource does high-quality analytics. The Internet is full of fraudulent sites trying to make money on gullible beginners. For example, a user who enters a channel sees a series of deals and tips that worked without loss or profit. Because of this, he may have unreasonable trust in the owners of the group. To achieve this effect, the administrators of some channels give several signals to buy or sell coins. Successfully fulfilled recommendations are duplicated with a commentary, conditionally, “profit is fixed!”. Tips with a negative result may be removed from the story. Another way to attract customers is to send to the main channel messages about a successful transaction proposed in a closed paid group. In this case, the only opportunity for users to find out about unsuccessful recommendations of traders is to buy a subscription and see for yourself. Using these methods, certain channels form imaginary positive statistics, earning the trust of the audience. Subsequently, her loyalty and desire for quick money can become a tool for manipulation and deception.
Signals can simply be copied from random free channels. If it’s more important for the group owner to earn money from selling subscriptions.
Another way to make money on the audience is trust management. This works as follows: the channel administrator takes control of a certain amount in cryptocurrency, with the condition that he will trade it, and leave a fixed percentage of the profit to himself. An unscrupulous trader divides the received coins into two halves. Each of them is used to open both long and short positions. Therefore, no matter what happens with the asset rate, one of the transactions will be profitable. The attacker will receive his percentage, but someone will be left without his money.
Some channels may have pamps. Subscribers are invited to buy a certain coin, the name of which is revealed at the last moment, seconds before the start of the action. As soon as this happens, the participants of the "pampa" massively acquire altcoin in the hope of an instant growth of its course. An asset can go up in price, but organizers mostly make money on it, while cryptocurrency with a dubious future remains in the hands of subscribers. In other words, channel administrators who want to make money on their subscribers buy an illiquid coin, artificially inflate its rate, and after a while organize a “pump” to get rid of it. If the price of cryptocurrency takes off seriously, the attackers benefit from this twice: they earned money on the audience and got a plus on the statistics.

Use all sources:
• Closed groups on social networks. In such groups, they can share various insider information and analytical data.

• Professional resources. On such resources you can always find fresh market reviews and analytics for various cryptocurrencies.

• Special bots and robots. They are universal. They can collect information from several sources simultaneously.

• Forums of traders. On them, experienced players share with each other their opinions on the current situation in the cryptocurrency market.

Benefits:

Significantly reduce risks. The most important aspect of applying trading signals. With their help, you can protect yourself from entering the market in an unfavorable period. Thus, your losses are reduced, and profit is growing. At least you can see the trend existing in the market, thereby making an analysis for the point of entry into the position.
Automate trading. Cryptocurrency trading signals save a trader from performing routine work. It is enough to follow them, to receive well-deserved profits.
Act without emotion. Many traders incur losses due to transactions under the influence of psychological factors. The use of crypto signals allows you to make decisions based on clear criteria, and not under the influence of emotions.

Examples:

Free:

https://t.me/bit_dynamics

https://t.me/GodCrypt

https://t.me/coins_highlow_pulse

https://t.me/coins_highlow_pulse_top

Also see ideas at tradingview.com:

https://en.tradingview.com/markets/cryptocurrencies/ideas/