Crypto signals groups are an established trend in crypto trading. Traders who would otherwise rely on their intuition now often turn to crypto signals groups for help. Are you new to crypto signals groups?
If you’re looking to trade cryptocurrencies, it’s worth considering joining a signals group and learning the ropes from more experienced traders before venturing out alone.
With so many options out there, it’s hard to know which one is right for you! While joining a crypto signals group can be an enormous time-saver and very lucrative, but equally dangerous without practicing proper risk management.
This article will cover the pros and cons of crypto signals groups and advise on how to join the best crypto signals group.
The Pros of Crypto Signals Groups
Crypto signals groups present a great opportunity for novice traders to learn from successful crypto traders and investors. The right crypto signals group can save you both time, money, and stress.
Crypto Signals Groups Can Save You Time
One of the best things about crypto signals groups is that you can focus on trading with little to no time commitment. That makes signals groups perfect for people with busy lives, kids, and full-time jobs.
Additionally, all trades and ideas in a high-quality trading group get vetted by group leaders before being sent out. If your trading group does not do this simple task with each trade, consider leaving.
Crypto Signals Groups Can Provide More Trading Information than What You May Find On Your Own
In general, joining a well-managed crypto signals group will help traders be better informed and make more sound decisions. Trading groups typically have access to more information than an individual working alone.
The market insight gained from the right signals group can be invaluable for short-and long-term trading. After all, no one can be everywhere at once, and even the best of us miss important details.
Having a team trading alongside you with different levels of experience can help combat emotions better during trades. Signals groups often share their wins and their losses, sharing in the struggles and the celebrations of one another’s trading and investing journey.
Signals groups can also warn you against market manipulation and scams. Members can typically share their findings in the community group, so it may be beneficial for you to choose a signals group that maintains a lively community of contributors.
Remember, the only security in a crypto signals group comes from your risk management and due diligence. Signals groups ran by respected management provide an additional layer of security in the form of peace of mind.
Crypto signals groups can provide mentorship
If you’re looking to learn about crypto trading, find someone who’s already been successful with cryptocurrency and study their strategy.
Many crypto signals groups offer one-on-one mentorship and exclusive educational material, such as e-books, online courses, private Youtube training videos, and regular in-depth analysis.
Always check with the group’s management to discover the different products and services available because higher-level mentorship often comes with a bigger price tag.
Below I’ve given you a shining example of how lucrative subscribing to a well-managed crypto signals group can be.
As you can see, the signal follows sound technical analysis, providing adequate risk management parameters, such as take-profit levels and stop losses. AlphaTradeZone also provides charts containing the playbook for how the signal provider intends to follow through with the trade.
The signals provider will also typically share regular, real-time updates so that you know how the trade is developing.
Finally, the signals provider should alert when profit levels or stop losses reach their targets or when the operator manually closes or alters a trade.
In this case, the signal was accurate and may have made you some profits.
When AlphaTradeZone releases a signal, members have instant access to a playbook for the trade setup, along with any follow-up analysis.
The Cons of Crypto Signals Groups
While crypto signals groups can provide traders with a wealth of information, it’s important to remember they’re not perfect.
Avoid Crypto Signals Groups that “shill” coins
The most obvious disadvantage with many crypto signal providers is they want you to trade in their coins exclusively – which means if the coin tanks, then so will your portfolio. Quite often, crypto signals groups that focus specifically on shilling low market cap coins are engaged in fraudulent activities, such as market manipulation.
When To Join A Crypto Signals Group
Let’s cut to the chase – the best time to join a high-quality crypto signals group is today!
Crypto signals groups can be an incredibly valuable addition to any trader’s arsenal of tools. If it is within your budget, why not start trading with a team of vetted professionals and like-minded peers?
Most crypto signals providers will offer some free trial accounts when you sign up for their service, which can give traders a chance to sample the benefits before committing to it full-time – though there is usually a minimum deposit requirement at this point.
Begin Developing Your Risk Management Strategy Before Joining a Crypto Signals Group
The most successful cryptocurrency traders do not rely on their signals provider for all of their crypto trading decisions. Instead, they rely on their personal risk management strategy, honed through years of dedicated practice.
While it’s tempting to have someone else provide and execute trades for you in such volatile times as these, you should focus on honing your own skills first before trying anything too complicated.
If you’re just starting, consider joining a crypto signals group with a strong reputation for onboarding newcomers to crypto and trading. The best groups offer a proven education program and a large body of introductory educational material.
Remember, no one will take care of you better than yourself! Crypto trading is hard work and takes dedication and patience, just like forex or stock market trading. Anyone promising easy profits without putting in the work is probably out to steal your money.
How To Join The Best Crypto Signals Group
It can be difficult to find the right crypto signals group for you with so many leaders in the space and new ones popping up all the time.
Below is a video that will show you how easy it is to get started using crypto signals with one of the top crypto signals providers on the market:
If you want to get started with crypto signals trading right away, AlphaTradeZone is an ideal choice for beginners. For only 0.0056 BTC (210 USD), you can enjoy all of our trading signals and community benefits for a full month.
Many crypto signals groups have similar strategies and trading tactics, making it difficult for traders to distinguish who they should follow. Below are some tips on choosing the best crypto signals group for you.
Should You Join a Large Crypto Signals Group?
It sometimes pays off if the group has large numbers of followers and gets high traffic levels on social platforms such as Twitter or Telegram that are popular among traders. Larger signals groups often have more access to valuable market information if they’ve used their momentum to build a stronger community over time.
Of course, joining a large group can also have downsides, such as less attention from management. If you want more time with the lead analysts and the “insiders,” you’ll likely have to pay more for higher-tier membership and services.
What Price Should You Pay for a Crypto Signals Group?
Some groups offer more personalized services but charge higher rates, so it’s important to know the structure of any signals service you’re buying. Therefore, it’s essential to know what you’re getting into before joining a crypto signals group.
Look for groups with at least 100 to 1,000 active members. By “active,” I mean members who have interacted or contributed at least once in the past month. Another positive sign is a high number or ratio of members in their premium group.
Look for groups with several members occupying the “whale” category — users who trade large amounts of money every day. Signals groups with members who put a good amount of “skin in the game” increases the likelihood that the group’s signals, insight, community, and educational content are of high quality.
The main goal for any crypto signals group is to secure more long-term members by delivering a steady flow of profitable trades.
In other words, you want to ensure that the signals group can deliver regular, high-quality signals and judge the membership subscription fee largely on that basis. That will provide more valuable information than the size of the group’s membership list.
The price for crypto signals can range from $10 to $500 per month. Signals groups that provide automated tools and investment reports will be on the more expensive end.
What is an Acceptable Success Rate for Crypto Signals Groups?
There are many fake or unproven crypto signal providers out there, and some will tell you they are the best without providing any verifiable information to back up their claims. That’s why one of the first things to look for when joining a crypto signals group is their profit and loss record.
A good rule of thumb is to find a group that has been profitable for the last 12 months and is currently making at least 50% on average per trade. That way, you know the trades over time can weather a variety of market conditions and still break even, at the least.
Of course, the value of a crypto signals group doesn’t only come down to their profit and loss records or their “win rate,” but also the integrity of the group’s owners, administrators, and community members.
Choose a Crypto Signals Group With Proven and Effective Strategies
A crypto signals group should also provide their followers with effective strategies for various market conditions, such as which coins are worth investing in or holding onto during downturns. After all, no one wants to invest time and money into a signals group that only succeeds when the markets go up!
Before joining, research their website and ask current and previous paid members how they feel about their experience. Check testimonials outside the group’s main website, typically on social platforms such as Reddit, Quora, or independent Discord servers.
Review the group’s Youtube videos and social media content on sites such as Twitter, then check the comments and compare sources to other crypto signals groups. Suppose you find that the community chatter is positive and that the group’s content is original or even respected. In that case, you may have found a winner!
Do Not Join “Pump and Dump” Signals Groups
Pump and dump groups are a bane of the cryptocurrency market. Their existence is a violation of securities law, with members hiding inside anonymous forums to discuss and execute their plans.
These groups aim to manipulate the price of cryptocurrencies by coordinating trading activities over these discussion boards. Tell-tale signs include releasing large-volume sell orders, causing prices to plummet, making it possible for other members to purchase and exit reasonably.
At first glance, you may think joining a pump and dump group will pan out well for you. Maybe you’ll get lucky, and perhaps you won’t get busted by the law, but know that these same groups are not out for your best interests.
Often they provide false signals and exaggerated charts, or even forged articles and social posts, such as tweets from celebrities. Below are some examples of pump and dump promotions and a chart to demonstrate how one of these orchestrated scams looks.
It may appear like harmless promotion, even if the tip is from a robot on Discord or Telegram. However, once strapped into a pump and dump scheme, the ride gets far more turbulent than you may expect.
That looks great, doesn’t it? Imagine the instant gains! You would have to be incredibly quick and technologically savvy to even participate in such volatile price action.
What these charts do not reveal is that no matter how quick you think you are or what kind of automated trading software you’re using, the chances of being burned are far too high. The only party that always benefits from a pump and dump event is the pump’s organizers, at your expense.
You may also spot pump and dump groups plain as day in your Twitter feed. The example below demonstrates how pump and dump (P&D) organizers often use several fake accounts and create misleading software to entice people to join the frenzy.
The following chart doesn’t look as promising as the last one! When you recognize the psychology of a pump and dump, it becomes clear why most people would advise staying away.
The bottom line is pump and dump groups promise you the opportunity to get rich quickly. Still, the reality is that they have one goal — to steal your money and run off to Mexico.
A crypto signals group can offer many benefits over trading on your own. Still, it’s important that you take some time and do your due diligence before making this big decision.
You shouldn’t choose a crypto signals group on a whim. Resist the temptation of an attractive price point for a group’s signals until you do research. You want to make sure that their crypto strategy works.
This article provides what you need to know about choosing a good crypto signals provider. If you’re ready to use crypto signals like a pro trader, join AlphaTradeZone today and work with the best in the industry.
Already a member, but new here? Check out our guidebook on crypto signals for beginners. Good luck out there!