In the following article, you will learn everything you need to know about cryptocurrency trading signals and how they can boost your success.
First things first: what are Crypto Signals?
Crypto signals are, basically, a set of trading suggestions sent from a signal provider on how to profit from specific cryptocurrencies at a specific price and time.
A crypto signal is nothing more than an instruction, a daily manual, on what cryptocurrency trade position to open in the market. These signals are well-researched information that has a high probability of giving you a profitable return.
Why should you use a crypto signal service?
If it comes from a good platform, the signal will also provide you with all the necessary information for you to trade, such as:
- The specific crypto to trade;
- What time to trade;
- The price for you to buy at;
- The target price to exit the trade;
- And, what is possibly the most important info, the optimal stop loss level to minimize your losses – in case the trade does not really go as predicted.
Manual or Mechanical crypto signals generation
There are two ways in which crypto signals can be generated: manually or mechanically. If done manually, crypto experts apply their experience and success into carefully analyzing the crypto world. With the analysis findings, they send out the trading signals on the currently biggest cryptocurrencies.
If the crypto signal is generated mechanically, the platform uses computer software to scan, track and analyze the price of crypto coins based on coded algorithms. The results become the crypto signals.
Analysis paralysis
Another point in which crypto signals are a big help: analysis paralysis. Analysis paralysis is a phase that every trader goes through – it is basically not being able to focus on your analysis and making smart, successful trading decisions.
Crypto signals allow investors to continue making profits while decluttering their minds.
How to make money with Crypto Signals
It is important to emphasize that, in the end, no matter what crypto signals group you are in, it’s up to you to execute those signals and actually make money. Again, there are two ways you can execute your signals: manually and automated. If you do it manually, you will follow the trading instructions from your crypto signal provider yourself.
This option offers higher control over the actual trading activity – which is preferred by more experienced traders, since they get the final say on what is done with the assets on their account.
Such traders also tend to believe that their knowledge deserves to be a part of the trading process, that’s why they choose to do it manually. However, manual trading does not allow a trader to take advantage of the efficiency and speed when trading such dynamic assets as cryptocurrencies.
The automated execution of crypto signals
Now, in automated execution, a crypto signal’s software is directly connected to your trading account platform. This software is responsible for generating the crypto signals and will also execute them in the market. One of the benefits of this trading way is the speed of the trade. All of this, as well as eliminating the potential subjective trading.
Automated execution also makes it impossible for you to miss any profitable trading opportunity that surfaces the market at any moment of the day. However, there is a disadvantage: this way, the trader is completely separated from the decision-making process. Although some automated crypto signals providers say that traders do have the option to travel between manual and automated trading, so you can be the one in total control of your profits – and losses.
That is why it is so important to choose a good signal service to help you reach your investing goals. Not all providers will take you there. Making the wrong choice will lead you to lose valuable time and, more importantly, money.
Crypto signals are also a great learning opportunity. This, since you have the privilege to trade information with experts that will teach some things only years of experience have taught them.
The crypto dynamics
Cryptocurrencies are very dynamic assets that can have a weird, sometimes unpredictable, price action. That’s why it’s important to analyze the performance of the crypto signal service you choose, both past and present.
The fact is, past performance does not necessarily indicate future success. Even though, having a solid track record is a good way to start. It is also very important to throw several reviews from other traders of the signals provider. So, you can make sure to not be burned before starting.
Profitable crypto signals can only be given by actual profitable traders, so it’s also good to know who is behind the trading scenes; examine carefully the team behind your signal service.
By having a good team on top of the service, their group will undoubtedly attract a good community of traders. It has to be a group of investors and traders that use the service and actually thrive from it, building a successful community.
That is your insurance that only good ideas and knowledge are shared among the members, not only numbers. It is important that crypto signals offer both the opportunity to earn and learn altogether.
Our tip for best crypto signals on the market
Nowadays, some of the best crypto signals come from the Fat Pig Bitcoin & Altcoin Signals. Through their Telegram group chat, they not only tell you which cryptos have risen or fallen today. But they also provide you with the necessary information on entries, exits and stop-loss placement devices. In sum, the complete combo for trading needs.
Although nothing actually substitutes personally well-done research, it is hard to spend all day looking at the charts. That is when Fat Pig comes in. Their professional analysts are online 24 hours a day, watching the market closely; and using a book order analysis, so you do not have to lose time.
Becoming a member of their platform is the first investment you have to make. Mainly before you actually start investing in cryptocurrencies and making a profit from them. Any questions about crypto signals? Leave us a comment below.
The post Crypto Signals: how to make money with them? appeared first on Fat Pig Signals.
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