Do you want to get started in crypto-currency trading, but you don’t know where to start? This article is for you! We will explain what a crypto trading signal is, how they can help you maximize your profits, and how to find the best trading signals for your portfolio.
Crypto trading signals are a set of instructions sent by a group of traders or experts to a subscriber telling them which cryptocurrency to buy (Bitcoin, Ethereum and many others), at what price to buy it, at what price or when to sell it, or at what price to set the stop-loss (price beyond which the sale is made automatically in order to avoid larger losses). These recommendations are based on technical analysis and market data.
Often these are not instructions on a single cryptocurrency but on several at once: for example, “sell 50% of your USDT (Tether) and 20% of your XRP (Ripple) to buy ETH (Ethereum)”.
Once the signal arrives, you must execute the trade as quickly as possible. Due to the nature of the cryptocurrency market, trading opportunities can sometimes last only a few minutes (or seconds), so it is vital to apply the crypto trading signals immediately.
The most well-known platforms for buying and trading cryptocurrencies are Binance, BitMex, and Bittrex.
Which platform to receive your crypto trading signals on?
There are several ways to receive crypto trading signals, but by far the most popular method of obtaining them is to participate in a private group within the instant messaging application Telegram, created by the famous Pavel Durov, this platform being the great competitor of the WhatsApp application. The membership process usually involves contacting the group administrator, who will then explain how to sign up and pay for the membership.
The advantages of the crypto trading signals
The advantage of subscribing to crypto trading signals is, in addition to often being very profitable, that it saves you a lot of time by not having to do all sorts of research yourself. You no longer need to spend hours studying charts or doing research on your own, as long as you are able to generate a return greater than the amount you paid to be in the private group.
This time saving allows investors to focus on other aspects of their portfolio while letting the signals make the best decisions for them.
Another benefit is that it can help you spot opportunities you might otherwise have missed.
Another benefit is that signals can help investors avoid common pitfalls and achieve higher returns.
Finally, the crypto trading signal can help you automate your trading so that you don’t have to do it manually.
The main drawback of trading signals is that they can be quite confusing for new traders. In addition, if signals are not well researched or are inaccurate, they can lead to losses.
Another drawback is that some vendors charge high fees to access the data and tools needed to implement their recommendations.
Subscription to a private crypto trading group
Subscribing to a trading signal provider allows you to learn from those who are best at spotting opportunities.
Here is a non-exhaustive list of free and paid signal providers: tradingview.com, hirnsignals.com, mininghamster.com, cryptoqualitysignals.com, CryptoSignals.org. (for beginners), Learn2Trade (Daily Crypto Signals used by over 10,000 traders), WOLFX Signals (for beginners), MyCryptoParadise (Exclusive circle of professional traders), NFT Signals (New group of NFT trading signals), AltSignals, MYC Signals (Telegram), OnwardBTC (with trading bot features), Universal Crypto Signals (Telegram), Fat Pig Signals (For beginners), Satoshi Channel (for beginners)
The best free crypto trading signal is probably Learn2Trade.com. In addition, Learn2Trade’s Telegram group of free crypto signals provides three signals per week.
WOLFX Signals is one of the best crypto providers with a free group, where they share about 2 crypto signals per week. Users who opt for the VIP group will receive 2-4 signals per day, containing entry points, stop loss levels and take profit levels.
Subscribing to a trading signal provider allows you to learn from those who are best at spotting opportunities. For example, the Satoshi Channel, named after the Japanese creator of Bitcoin in 2009, is run by Lorenzo. Thanks to him, you will know how you can increase your savings:
- without any skills: just read the instructions given,
- without any special equipment: a simple smartphone or tablet is enough,
- without spending more than a few minutes a day,
- without waiting months and years for results,
- and without taking unreasonable risks, on the contrary.
MyCryptoParadise.com provides the most professional signals, which is why it is reserved for people who take crypto trading extremely seriously. MyCryptoParadise.com was founded in 2016 by four former hedge fund traders, who switched entirely to day crypto trading.
NFT Signals provides its signals through Telegram, offering 3 to 5 trading opportunities per day in the VIP group.
OnwardBTC was founded in 2019 and offers several different Telegram groups that users can join, including various trading strategies and crypto bots.
Some of these providers offer additional content, such as videos, weekly webinars or daily technical analysis of the major crypto currencies, to complement crypto trading.
What are the best currency pairs to use with the crypto trading signal?
Quelles sont les meilleures paires de devises à utiliser avec le signal de trading de crypto ? It lets them know when to buy or sell a crypto-currency. However, it is important to choose the right currency pairs when using this signal. Here are some tips for choosing the best currency pairs to use with the crypto trading signal:
-First of all, you need to understand that the crypto trading signal is not foolproof. There may be errors and false alarms. That’s why it’s important not to invest all your money in one crypto-currency. Instead, you should invest in several different cryptos to diversify your portfolio and minimize your risk.
-Next, you will need to choose the right currency pairs based on market conditions. If the market is volatile, you may need to avoid certain currency pairs that are more susceptible to price fluctuations. For example, if Bitcoin is falling, you should not invest in a crypto-currency like Ethereum. However, if the market is stable, you can invest in any crypto currency.
-Finally, you should also consider your trading style. If you are an aggressive crypto trader, you may need to choose currency pairs with narrower spreads. This will allow you to enter and exit the market faster and maximize your profits.
How do I know if the crypto trading signal is reliable?
There are a few important factors you should consider when trying to determine if a crypto trading signal is reliable. First, look at the source of the signal. Is it a person or a bot? Second, look at how many trades they made and how they performed. If their track record is positive, it increases the chances that the signal is reliable. Third, look at the content of the signal. If it is short and simple, it is less likely to be wrong. Finally, ask yourself if the signal makes sense to you. If so, there is a good chance that it is reliable.
Why not use a crypto trading robot?
A crypto trading robot is automated trading software that uses algorithms to analyze the financial markets and make trades based on those analyses. These robots can be configured to follow a specific trading strategy or to react to market movements in real time. Crypto trading bots are usually accessible via a web or mobile platform, which allows traders to set up and execute their trades anytime and anywhere.
Beware, however, of macroeconomic trends in the United States, as well as the increasing difficulty of Bitcoin mining: both factors could threaten the price of Bitcoin in the near future.
It is possible to trade crypto, but it requires extensive knowledge and understanding of the market. Crypto traders must be willing to invest time and effort to learn the ropes. But don’t forget the most important motto: “Only invest money you can afford to lose“…