Want to trade crypto but don’t have time? Get a signals provider!
What is a trade signal?
Trade signals are valuable alerts to opportunistic trade events. Trading signals are generated through various forms analyses such as technical, fundamental, qualitative, and quantitative analysis. Other market factors can be taken into consideration such as upcoming events, roadmap events, or even outside factors such as bearish or bullish news.
Why should I use trading signals?
The overall purpose of a trade signal is to provide other traders an emotionless mechanism they can leverage for profit. It’s much easier for a trader to find a reliable signal source and follow it. Rather than spend hours staring at charts to generate various signals themselves. However, you should never follow a signal blindly as they are a tool for traders. They are not a guarantee by any means.
It’s recommended having at least a basic understanding of technical analysis. This way, you will be able to first check the charts yourself to be sure you agree with the signal sent. No signal provider will be 100% correct all of the time. Beware signal providers that promise preposterous gains per month and try to project themselves as always right.
How do I use a trade signal?
There is no exact format for trade signals whether you are trading crypto, stocks, forex, options, or anything else. However, it’s best practice for traders who provide signals to keep them simplistic for ease of use. Although, in the cryptocurrency space there is a general format for trade signals emerging that many people have come to recognize, and many providers have begun to use this format. The standard format for a cryptocurrency trading signal looks like this:
First, the trade signal specifies whether it’s a buy or sell signal. The next thing we see tells us what crypto to buy and the price to buy in at. After we buy-in, we can choose where to sell for profit by using the sell targets as a general range. Keep in mind the higher the target is the less likely price is to hit it. Generally, the higher targets take more time to reach and will be longer trade periods.
A good strategy to use when picking your sell targets is to sell off 50–75% at a lower target and set aside roughly 25% for the higher targets. That way when the price hits targets but doesn’t hit them all, you are still able to walk away from the trade with profits in hand.
Next stop: Gain Train to Mewn Town
Many signal providers want a premium payment first. Is it worth it or, should I follow free signals only?
Let’s face it, traders have to spend their time checking across many different charts using different indicators to find a signal. Some may follow news and upcoming events to reinforce their signals. All of this requires the trader to spend their time analyzing and researching to help ensure their signal will be profitable for everyone using it. Sometimes this can take hours depending on the complexity of the signal. What it takes to generate a trade signal can be easily overlooked or forgotten and taken for granted.
Even once a trade signal has been found a trader has to consider what is at stake. A trading signal means that you will be sharing information with others that could potentially cause them to lose money. Less experienced traders can feel scammed, ripped off, or become otherwise agitated when a trade signal fails.
Not if but, when this happens it is easy for someone who acted upon that signal to speak poorly of a trader, and therefore the reputation of the trader must also be considered. However, there are traders in this space that do not care and they are only in the market to make money for themselves. Time will always tell whether or not a trader actually cares about his signals or not.
The important thing to consider when choosing whether or not to pay for a signal service is:
1) Are you making back the money you spent on the service and more?
2) Do you enjoy the community that provides these signals?
3) Do the signal providers care about their community enough to be transparent and work to improve themselves?
If you can answer yes to these questions then you may want to consider using a signal providers service because the bottom line here is, are you making more money than you’re spending, and enjoying yourself while doing so?
So why should you choose Cyber Signals over another signal provider?
Because we actually care about our customers! This is reflected not only in our trade signals but, in our interactions with our community and it’s members. We personally dislike when our members aren’t making money! We provide market updates, explanations, as well as free signals because we want everyone in our community to make a profit!
“Our success depends on your profitability and happiness!”
Not sure why we’ve recommended a trade?
Ask us! As stated we’ve chosen to build our reputation by being transparent with our community
Want to get an expert opinion on a cryptocurrency project or ICO?
Feel free to message or tag our staff in chat or in private! We’re here to help provide expert opinions that will allow you to benefit monetarily. If we don’t know or we aren’t sure. We’ll tell you! If we recommend something then we will explain why!
Need an analyst to take a look at the charts for you?
Perhaps you’ve found a good potential position to enter but you aren’t completely sure when the right time is. Conversely maybe you are in a trade that wasn’t a signal and you would like to know if it’s a good time to exit because a reversal may be coming soon. Ask our analysts!
The cryptocurrency space is expanding at an exceptional rate year over year and with so many new people moving into the market there is also a multitude of signal providers popping up. So how are you going to choose? Find a community, engage with it, see what you like, and see what you don’t. Make sure you’re making profit and once you’ve found a signal provider that matches your criteria then you’ll know you’re at the right place! We hope this guide has helped in your understanding of trade signals, how they work, and if you have any more questions feel free to find join us in the Cyber Lion Community Discord!
Investing in cryptocurrencies and Initial Coin Offerings or ICO’s is a highly risky as well as speculative financial maneuver. This article is not a recommendation by Cyber Lion Weekly or the author to invest in cryptocurrencies or ICO’s. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Cyber Lion Weekly makes no representations or warranties as to the accuracy or timelines of the information contained herein.