Why we should be careful of people that sells crypto signal
Hello friends, it's been quit sometime I posted in this group. I want to talk a little about people that sells crypto signals.
Cryptocurrency trading signals are alerts that suggest a course of action to buy or sell a particular cryptocurrency. While some trading signals may be useful to help investors make informed decisions, there are many individuals and companies that sell cryptocurrency trading signals that are not trustworthy.
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Here are some reasons why you should be careful of people who sell crypto signals:
Lack of regulation: The cryptocurrency market is largely unregulated, which means that anyone can claim to be a trading expert and sell trading signals. As a result, it's essential to research and verify the credibility of the individuals or companies offering trading signals before investing.
Potential for fraud: Some people who sell trading signals may engage in fraudulent practices, such as using fake data or results to make their signals appear more reliable than they are. It's crucial to be wary of trading signals that promise unrealistic profits or require you to pay significant fees upfront.
Risk of losing money: Following trading signals blindly can be risky, as market conditions can change rapidly. If you rely solely on trading signals and don't do your research, you may end up making uninformed decisions that result in significant losses.
Conflict of interest: Some people who sell trading signals may have a conflict of interest, as they may have a stake in the cryptocurrency that they are recommending. As a result, they may be motivated to provide biased signals that benefit them more than their clients.
In summary, while trading signals can be useful tools to help investors make informed decisions in the cryptocurrency market, it is essential to be cautious and also thoroughly research the individuals or companies offering them. Investors should do their due diligence and only follow trading signals from reputable and trustworthy sources.
Thank you, friend!
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You correct. Many of these so called signals are either biased or outright reckless. You see buy signals with the Stoploss set below liquidation and you wonder if these people are bent on making people get rekt.
There are however some good signals and I know a few free ones. I personally judge good signals by
Like I said, there are free ones you don't even have to pay for. Good calls, healthy Stoploss - -2%.
Some signal groups also offer educative info to their subscribers so that they not only signals but also understand how to trade.
I can leave a link but that's only if you're interested. And very importantly, Always DYOR.
Thanks for your reply @jehoshua-shey and the analysis lol. You can drop the link let's see how it goes.