Hi all,in this post,i would like to discuss about the increasing numbers of Trading Signal Groups(Crypto) on Telegram.Personally i am a member of several of these groups,but there are a few warnings that i must issue to the public regarding these signals.Allow me to briefly share some of the positive and negative points of these channels or groups.
NEWS(+ve)
Personally,i feel that one positive point about these groups is that they provide real time,legitimate and practical news which can potentially drives prices upwards.For instance,they provide news and announcements on the listing of coins on various exchanges.Such announcements will push the prices of coins up.So personally,i think if we could fully utilise the announcements posted by these signal groups,we can definitely get great returns.So for me,one positive point about these groups is the up to date news and announcements that they provide from time to time.
Mid/Long term trades(+ve)
Another positive points about these groups are their Mid/Long term trades.I found the trades that they provided to be quite accurate.This is mainly because these trade signals have solid reasoning based on certain upcoming announcements or events.I found their Mid/Long term trades to be of lower risk rates and it is definitely worth a shot if you guys have any spare portions of money for trades.
Short term trades(-ve)
However,there are some negative points too.One of which is the short term trades that they provide,which i find to be quite inaccurate on many instances.These short term trades are probably based on trading indicators.This might be inaccurate because the analysis of any coin will be greatly affected if the "king crypto"(Bitcoin) is unstable.So,at times when the price of bitcoin is going berserk,i think these trading indicators might not serve significant purposes or of any accurate use.
Occasional Massive PUMPS(-ve)
This is where most people lose their money.Such pump signals are frequent.The group admins will announce a coin and the coin will get pumped greatly and then dumped.The whole process ends within minutes and hence,if you were to lack behind a little or be slow in selling/buying,you might end up suffering huge losses.I strongly discourage joining pumps as it involves great level of risks.
Above are my views on these trading channels.I hope my pointers can help you sieve out the positive posts that you should consider in the group.What are your views? Do share with me in the comment section below:)