Trading signals are the number one allies of beginning traders and although many do provide a monthly profit margin, it is important to choose the signal provider wisely, as not all have the same technical analysis skills about the market and many will sell. "smoke" for high prices. Getting profitability from trading signals is not as simple as copying the setups you receive on your exchange platform and today we will answer the question "are crypto trading signals groups safe?", In order to take advantage of them responsibly.
Crypto trading signals groups are safe as long as they offer legitimate, solid signals. While many signals groups have been operating different markets for more than 10 years and currently obtain real rates of return, others that do not have this experience deceive their users into attracting new users who pay for a membership.
To know if a crypto signals groups is really trustworthy we must consider a series of aspects:
Every group of crypto signals should have a record of profitability from the past months, and it is there that new users will decide whether or not it is worth trusting these providers. Any group of signals that offers a profit margin greater than 50% is a good option, although it will all depend on the cost of the membership. If the cost of the membership is higher than the earnings that the signals produce, the subscription will not be worth it.
There is no use buying a monthly / annual or lifetime subscription in a group of signals that does not emit daily signals. A group of decent signals sends at least 3 signals every day, of which 2 should reach Take Profit. If a group of signals takes several days without providing setups, you may be in the hands of a lousy administrator and the best option is to get out of there.
To find out if the crypto signals groups are really safe we have to take a look at their customer support service. On some occasions, users will have difficulties with the handling of signals or with the subscription, so they will need guidance through some processes, especially if it is a beginner user. Every decent crypto signals group must offer a good service and address the concerns of its users as soon as possible, since they are the ones who keep the group standing by paying a monthly subscription and forming a community.
The crypto market is highly volatile, so it would be very irresponsible for a group of signals to simply issue a setup and not keep track of it until one of the targets is reached. Even if the price turns against us and you have not touched the stop loss, it is the responsibility of the signal provider to indicate whether it is appropriate to close the trade or continue to hold the position.
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