Hi All,
I am a long-time advocate of cryptocurrency (mined my first bitcoins back in 2010!) but I have only ever worked/developed websites for customers for crypto and never traded. so I am a complete beginner when it comes to trading for profit but I would love to try my hand at it.
So recently (about a month) a friend introduced me to telegram Crypto Trade Signal Groups and said a few made him a ton of money (although I have never seen that proof). So I sign up for the VIP package of these signal groups. sets me back about $100 altogether and then I subscribe to the suggested Cornix bot which automatically trades on the signals these channels send. This was quite promising for me and I felt quite excited. Now a month has gone by... my portfolio has had a 2% increase and I'm now being asked to re-subscribe to Cornix and the signal groups.
So my question is really, Are they ever actually worth it? has anyone ever made much profit from these "premium" signals other than the people that run them? or could it be how I have the Cornix bot set up?
I have followed some guides but I wonder whether I should try and commit the time to learn to trade manually without the use of Bots? It's just a nice idea to have passive income while I am at work and asleep.
Appreciate any response and always happy to receive any educational material you think would be useful for me.
edit: money <> crypto
A big question that generally all new traders ask. The simple answer is no in general they don't but yes they do if you are a trader yourself. Let me keep it in a different manner. Traders generally have a trading strategy and a plan for each trade whenever they decide to trade. The trading strategy is the rules that the trader makes for himself like the type of pattern he will go behind, the amount of risk he will take at maximum, and the return he expects while a plan is made for the respective trade. A signal group poster is also a trader who created both these things for himself. Now if this thing would tally with your mindset and risk capacity is absolutely impossible.
These trading groups are to be used in a different manner, they should be used for screening. For example, you get a signal from this one group. Now you put that chart to test in your own trading setup. This thing will ensure that you have got two different views of the same security before buying it so it's a good trade or a bad trade. This acts as a screener as well as an additional filter for all your trades thus making you profitable and save some time of yours. Instead of this people just take these signals as holy grails and keep on buying based on them and end up in no major gains.
Bots on the other hand are entirely different. Bots too are pretty good tools if they are used to create triggers as per your own trading strategy but taking signals and feeding it to the bot and expecting you would make money is something only a lousy idiot would think of.