Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Trading Discussion
Re: beginner trader: Are trading signals and bots worth it?
by
Silberman
on 13/04/2021, 15:20:37 UTC
Quote from: awik p on April 10, 2021, 06:04:34 AM
Quote from: Silberman on April 10, 2021, 01:04:42 AM
Quote from: traderdyl on April 07, 2021, 08:25:24 PM
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
Commit your time to trade manually, 2% in profits is really nothing and many traders can obtain that with a single trade and not a month, now I will be direct trading is really hard and there is a big chance that you will lose money but even then signals are not worth your time, almost no one makes money with those groups, after all if they were that good then why give signals when they can just trade by themselves and make themselves rich in the process?
2% calculation seems easy to achieve, but sometimes a trader also experiences floating not as expected. therefore our attitude will determine, not to be selfish in playing a role in this kind of condition, so as not to be dragged along more and more. and must be able to immediately move on in such conditions
I understand that even earning 2% per month can be really good if you are able to maintain this kind of profits in a consistent basis but that is the point, that is not something that you can maintain by using those kind of signals and it doesn't make sense to use bots to automate your trades when you do not really know what you are doing, there is a reason why most books about trading recommend that at first you learn how to do it manually and yet people want to skip that step not realizing the mistake that they are making.