Crypto trading signals are meant to help traders gain a competitive edge in the crypto market. How do you access and use them to make profits on the crypto market? Can you trust them? Which services provide the best crypto trading signals? Stick around to find out more!
Trading signals can prevent losing money
On the Internet, there is a rumor that says the majority of retail traders lose money. Oftentimes, these terrifying rumors are unfounded and are only intended to create attention-grabbing headlines. It is a fact that a large number of retail traders lose money, but their lack of a plan is the primary cause of this.
Oftentimes, these statistics are taken from people who were just experimenting with trading. Naturally, they wouldn’t know anything yet about trading signals, not have a plan, and inevitably lose money.
In the worst case scenario, traders abstain from trading entirely in favor of allowing others to trade on their behalf. This could cause you to lose more money in the long run than the little “gains” you are made to think you will.
Trading signals represent a low-risk trading strategy. They are as follows, for those who are unaware of them:
Crypto signals are trade recommendations generated by analysts using technical and fundamental analysis to identify potentially profitable trades in the crypto market.
Note the word “recommendations”, which implies that any trading signal service you subscribe to will give you the trading advice, but ultimately, you make the call.
How do I use trading signals for crypto?
Trading signals include precise information about the asset to trade, the entry and exit prices, and the stop-loss level, in addition to guidance on when to enter or exit a trade. Buy and sell signals are the two different categories of signals.
Buy signals are distributed during massive uptrends in the crypto market, and may typically have only stop loss targets, with no take profit targets. Traders must copy the entry price as soon as possible, and decide where to take profit from, based on their risk calculations. Sell signals do the opposite.
However, some signals also provide profit targets. These signals are typically distributed during a sideways market, where the support and resistance levels are more predictable than usual. Of course, you can always refuse the recommendation to target a take-profit level, if you have a plan and a good reason to do so.
Are trading signals complicated? Do you need to read charts and understand technical analysis? Not at all! Trading signals typically look like this:
Cardano (ADA) – Sell – $0.59 – TP $0.45 – SL $0.65
This is just an illustration. You will have all the information required to trade in this one line. It provides the cryptocurrency asset to trade, the action (buy or sell), the trade entry price, the take profit (optional), and the stop loss (optional in some situations).
That’s all there is to it; it’s that easy. Naturally, you are free to either fully abide by the advice or, if you have a better idea, to alter it.
Where can I access trading signals?
If you Google “crypto trading signals services” real quick, you’ll find plenty. Trading signal services typically work under a subscription model, where you pay a weekly, monthly or yearly fee for exclusive access to signals. Some signals are provided for free or with a limited trial offer, while others are available at a specific cost, either a one-off payment or a periodic subscription.
These services will then give you access to a proprietary chat room platform where you can receive live notifications on the latest trading signal, or access to a group chat on WhatsApp and Telegram. It doesn’t really matter where you receive the signals; it’s the quality of trading signals that count.
Telegram, of course, is a popular source of free trading signals, with its online bots optimized to handle users’ messages automatically. These bots can issue crypto calls, allowing users to automatically place trades without going on crypto exchanges.
So, yes, there are free trading signals. Why should you pay for one? The short answer is that there are hidden costs to “free trading signals”. We’ll cover more on the question of “Can you trust trading signals” in the section below.
One more thing to note is that some trading signal services send you email notifications. The disadvantage of this is that email messages do, on average, arrive much slower than live chats. After all, email still uses the same old technology that made it in the first place, some decades ago. So, if you subscribe to one that only offers you trading signals through email, please beware of the risks.
Can you trust trading signals?
The question that matters most is this one. The response is contingent upon your level of confidence in the individual or group providing the trading signal.
Generating crypto trading signals can be complex and requires a high level of understanding of the market and technical analysis. Market sentiment analysis is essential for making informed decisions, and technical analysis, which involves studying charts and patterns to predict market movements, is often used in forming crypto trading signals.
In summary, the team behind crypto trading signals must have the following traits:
- They have access to crypto market monitoring software, and understand how to use them.
- They have access to statistical analysis software, and can use them effectively.
- They’ve been in the crypto industry long enough to understand fundamental factors that affect crypto prices.
- They’ve been successful.
- They’ve helped others become successful.
The last two are particularly interesting. Someone can claim to have crypto market monitoring software as well as statistical analysis software. They could also claim that they’ve been in the industry since Satoshi Nakamoto invented Bitcoin in 2009.
But the deal breaker has to be this — they have the track record of their own success to prove it. They also have the track record of helping others achieve the same success, and you should be clearly seen from all the customer testimonies.
Blockcircle can help you
Blockcircle is a private trading and investment management community of computer scientists, quant traders, financial engineers and executives that come together to combine all their skills and experiences to create high quality trading signals.
To give you a picture of how we work, we have sub-teams that focus on different aspects of the crypto market. We look for undervalued gems based on fundamental analysis, new token offerings on various centralized and decentralized exchanges, use off-chain and on-chain analytics, web traffic analytics, as well as the reliable and traditional technical analysis.
The group was founded in 2017 and has experienced two peak crypto bull markets in 2018 and 2021. These two periods of time have been a chance for many ordinary people to generate wealth, and become financially secure.
To learn more about what we can do for you, visit www.blockcircle.com.
