I only trust people with a solid and transparent trading history. Traders can make you lose big time if you choose the wrong ones. If you're new, steer clear of those who use use. It can wipe out your assets in no time.
Be Careful with Traders and Signal Providers
19 replies 257 views
Every trader on YouTube seems to use their trades. If you can verify their profits, then cool. But honestly, most of us still fall for it. We watch all these channels, join their social media, and end up paying for premium groups what a trap.
Seriously, why are people looking for signal providers instead of learning to trade themselves? If someone had great strategies, why would they share them? They’d just use them to get rich, not sell them for a few bucks.
Learn to trade on your own. If you like a trader’s track record, good for you. But it’s tough to know if what they’re saying is true. Learning yourself is the best route. You need to put in the effort to really get it right.
+1. There's nothing wrong with sharing trades, but relying on them forever? That’s a mistake. I see some providers that explain their signals it's kinda like teaching along with the signals. That’s better.
chris_maxiNewbie
Posts: 219 · Reputation: 36
#6Dec 2, 2021, 04:22 AM
Just don’t trust signals or those PnL screenshots. On-chain data is way more reliable. Signal providers just make money off newbies who expect to get rich quick for a tiny fee. Seriously, just don’t do it.
Quick cash seems to be the name of the game for influencers. I can't think of a single one who isn’t using use. But yeah, your advice is solid newbies should avoid use trading. Just take your time.
Copying signals is pure chaos. A strategy isn't just a single trade, it's a whole series of moves. You can't look at win rates without considering stop-loss levels. I’ve lost too much copying trades blindly.
If you rely on someone else, don’t even start trading. Learn it yourself first. Losses happen, and they teach you a lot. Lots of pros say stick to spot trading and manage your risks way less stress for beginners.
wildoracleMember
Posts: 138 · Reputation: 44
#10Dec 4, 2021, 10:06 AM
You can research signals but don't blindly trust them. Use them to gain knowledge, not to follow like a sheep. A lot of folks just lose money copying signals without checking if they’re legit.
yield_2021Full Member
Posts: 79 · Reputation: 550
#11Dec 4, 2021, 12:46 PM
Yeah, this is especially for newbies. Those who know the market can use use wisely. But YouTubers often mislead desperate traders looking for easy profits without knowing what they’re doing.
nova_atlasMember
Posts: 156 · Reputation: 90
#12Dec 4, 2021, 01:04 PM
Best plan? Don’t trust others with your cash. Learn Technical and Fundamental Analysis, and practice on a testnet. Otherwise, you’ll just be mad when some random trader loses your money.
WildMatrixNewbie
Posts: 111 · Reputation: 22
#13Dec 4, 2021, 04:48 PM
For real, signal providers can easily scam. They create a group, gather followers, and charge for membership. It’s crazy how many get caught up in that without evidence of success.
5wifttokenNewbie
Posts: 34 · Reputation: 7
#14Dec 4, 2021, 07:13 PM
You need some basic TA skills to verify signals. Good traders often share their methods, so you can check their calls on your own. Paying for signals should come with actual analysis, not just vague advice.
LuckyDeg3nFull Member
Posts: 227 · Reputation: 408
#15Dec 4, 2021, 08:05 PM
It’s kinda sketchy. Some free signal providers might just want to liquidate your profits. I saw an influencer promoting a coin that tanked hard because they pushed their followers to buy in.
whale_omegaMember
Posts: 136 · Reputation: 95
#16Dec 5, 2021, 01:00 AM
If you use use as a newbie, you'll probably lose it all fast. Trading with signals won’t work in the long run either. Remember, you’ve got to do the hard work for any real success.
For sure! If you’re making money from signals, it’s all on paper. You’re not learning anything. Better to learn it yourself and only get help occasionally.
Buying and holding Bitcoin is the safest way to go. In trading, losses are inevitable, so get ready. Signal groups are just out to take your money. They won’t make you rich, so think for yourself.
AtomicBridgeMember
Posts: 128 · Reputation: 201
#19Dec 5, 2021, 10:12 AM
Anyone pushing signal services probably isn't making great profits themselves. They want your cash, not to share their secrets. Learn to trade, or it’s just like gambling.
I found a guy who doesn’t use use either, but I still regret following him. He wasn’t clear, and I ended up confused instead of learning anything useful.
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