(Newswire.net — January 21, 2020) — Crypto signals are trading analytics of certain assets of the cryptocurrency market, which contains information with entry points, sales levels and necessarily stop-loss, position size and leverage.
Trading using borrowed funds (leverage) can lead to significant losses, so you do not need to trust all the channels that give cryptocurrency signals for free. The cryptocurrency market has very high volatility, but despite this, there are sources whose signals are highly accurate, triggering in 90% of cases.
How did Telegram Trading Signals work?
Trading signals are an excellent assistant to novice traders who are still poorly versed in the rules of the game on the exchange. They represent the advice of experienced traders that a beginner can follow to maximize profits.
So, a signal may be:
- Expert forecast about the need to buy or sell any cryptocurrency;
- News information that provides the premise that the value of some coins will increase or decrease;
- Insider information about planned pumps and much more.
In addition, trading signals give confidence. Thus, they can reduce the nervous tension of the trader, which in turn allows you to avoid mistakes when making important decisions.
Where do cryptocurrency trading signals come from?
Cryptocurrency signals are based on a fundamental analysis of the market and a specific coin by experienced traders. Some signal providers prefer to study historical market statistics; others rely on insider information, technical analysis, or analyze the news background. Whatever method is chosen, the goal is the same – to find out any important changes that can affect the graph of the coin rate and make your prediction.
Should I trust the signals?
No matter how much you trust the source of the trading signal and whatever profit is promised, it is important to understand that the signal is just a recommendation for action and not a direct guide. No one guarantees that the signals are 100% correct.
The trader can follow the advice or act at his discretion. In any case, it is crucial to conduct your fundamental market analysis before making any decision.
Unfortunately, there are many pump channels, the work of which is aimed at making a profit, first of all, to the project administration and the people closest to them. Such resources are untwisted, attracting thousands of subscribers to their ranks, trying to maximize the interest of the audience, promising to provide insider information about the pump, on which it will be possible to earn huge profits, and then inform about the place and time the pump was carried out on a particular coin.
And all would be fine, but as a rule, a small number of participants in closed telegram channels receive profit from such manipulations. And those who invested in a signal are just “hamsters,” which were especially informed about pumping even more and earning as much as possible on the further coin drain.
Is it worth using bitmex trading signals – this is still a very controversial issue. In some situations, they can be profitable; in others, they can be misleading. In any case, trust only messages from trusted sources with a good reputation, if you do not want to feel like a gullible hamster.