Crypto Trading Signals
The crypto trading signals are a subject that we have touched on previous occasions, however we must give it a much more specific approach which is, how it works.
The signals themselves must serve as an aid in the performance of traders, so their correct use should be part of your training.
Recognizing which coins are performing better at any given time or if the pair you have chosen has shifts is a huge advantage.
What are crypto trading signals?
Crypto trading signals are based on trading ideas or could also be seen as analytical advice from professional traders. Signals are used to buy or sell a particular currency, at a certain time or price.
The signals are usually produced by a professional operator who is usually the one who has the basis for it, however in many cases, the signals are also produced by a commercial algorithm and bots.
Normally, crypto trading signals must also be accompanied by profit taking and a protective stop loss, this way you will be fully protected.
Free crypto trading signals and paid crypto trading signals.
Many times, you will find yourself faced with the dichotomy of whether to choose a free or premium signal provider.
For obvious reasons, premium services are much better than free services, since they usually offer you better quality things.
The crypto trading signals premium have important features of great help, for example:
- Good customer service: even personalized, which can save you from mistakes of beginner’s mistakes or anguishes.
- Signals of up to 100% precision: this, of course, will not always be so, but you can be very sure that the precision will be almost perfect.
- More analysis than you asked for: yes, they will probably give you many types of analysis, which ensure that you better understand the way the signals you received work.
Now, there are the free crypto trading signals, these signals are the ones that do not require any type of payment, these non-profit operations. At other times, premium channels offer free trials or totally free signal pools.
Although free signals can represent a low and the quality or frequency of the signals, at other times it can also represent the simple fact that you are saving a lot of money to get good signals, in fact, we have done reviews of free signal providers that have excellent accuracy.
Many other times the premium signals can also represent a risk in the trader’s pocket, because you can see yourself helpless against frauds of which you have no idea.
Other crypto signals providers
Premium and free groups in turn are usually divided into other types of groups, which are as follows.
- Binance Premium Groups: These types of groups are sending crypto signals in telegram.
In these types of groups, you will receive all commercial signals from Binance.
In addition to that normally the supplier demonstrates the value that he has paid, generating analyzes and signals with good precision.
- BitMex Premium Group: in this case you will receive Bitmex signals.
This type of specific and private groups, must be sure that their signals are of good quality, since otherwise the client will not pay another month of membership. These Signal providers are using mostly some off the Best Trading Robots.
Paying your premium signals
The payments needed in the signal market are usually monthly, of course there are also cases in which people prefer to pay annually to have discounts. Normally you will find two main methods to pay:
- Cryptocurrencies: many times, those who handle the signals of a cryptocurrency, choose to charge in cryptocurrencies due to its easy handling.
In order to make payments, the administrator is usually informed first in order to have timely information.
In some cases, an identification is necessary to carry out the transaction. Many are also using one off the best volume indicator forex and crypto.
- Card: in other cases, there is also the possibility of working with a card, but it is difficult to find a group that has this type of payment as the first option. Payments are usually accepted through Stripe, VISA and Mastercard.
The Five elements of a crypto trading signal
When you receive a crypto trading signal you must be able to understand the five elements on each signal you receive.
Let´s give it a look:
- Action – Buy / Sell:
The action you should normally take is the first thing that will appear on a signal.
So, when you are going to exchange cryptocurrencies, there are only two types of shares you can take. The two paths available are; buying or selling.
In the event that the signal says to sell, well, it was just missing, that’s what you should do.
2. The price
The price will always be available on the signal you receive. Normally this displayed price can be the current market price, although it may also be the case that they show you a price higher or lower than the price.
When you receive the price, you should be very aware of the signs since they can change dramatically.
The market has short-term volatility, so by the time you receive your signals the market will be changing and moving.
- What currency to buy or sell
In this case you will find what type of cryptocurrency you can trade, or if the one you chose is the one indicated to do so.
You will know this through the conditions of the coins.
- Take profits and stop losses
The signals are always accompanied by an order to take profits and stop losses so you are at less risk. Also, in this way you will not always have to be aware of the signals. And what happens in the market won´t be such a problem.
You wont have to know were to close the trade.
Additional and important information
Normally, market analysis is added, technical and fundamental, in this way you can better understand how this type of business works and in what way you can use the signals to get more benefits.
Risk management can sometimes also be part of the information that accompanies the signals.
Summary crypto trading signals
Having access to crypto signals is extremely important, especially if you are a beginner. That is the reason why you should always keep in mind good providers are the key.
By the way, about finding the best providers we will talk later.
Be part of the market and become the best trader.