The crypto trading signals group AltSignals has recently released its report for December 2019. The firm has obtained promising results in all the crypto and non-crypto solutions provided. At the moment, AltSignals is offering trading signals for BitMex, Binance and Forex.
As reported by the company, December has been a very positive month for traders that followed their signals. BitMex traders registered the best profits for December 2019 with 4875% profits and a win rate of 92%.
This has been the best month so far for BitMex traders following AltSignals. This shows that the results are improving and are allowing users to earn larger amounts of money over time. The report explains that of 39 signals 36 were profitable, registering a winning profit of 5121%. There were three losing trades that registered a total loss of 245%.
The best trade was registered on December 22nd with a massive gain of 1086%. At the same time, the best trades were opened for a period between 12.7 and 99.3 hours. In addition to it, the losing positions were opened for very short periods of time, between 0.1 and 5.1 hours.
The results show that the larger the average hours to hit a target, the higher the average profit per target. Short-term targets were not the most profitable ones, considering AltSignals uses stop-loss orders to reduce the number of funds lost while trading.
BitMex is one of the most popular cryptocurrency exchanges in the market and it provides users with the possibility to trade with leverage. This is why it is very useful for professional traders and enthusiasts that want to potentiate their earnings. If you want to learn more about BitMex, you can read the complete guide about how to trade with leverage.
AltSignals has also released its Forex report in which they show that they had a win rate of 82%, the highest in the last three months with 1048 pips. The winning trades were 9, with 1178 pips, and the losing trades were just 2, with -130 pips.
The best day for FX traders was on 20 December 2019 when they were able to get 448 pips. The time difference between trades has been larger than on BitMex. For example, some trades were open for 3.5 hours while others were open for 196.9 hours. However, it is possible to understand that the FX market is less volatile than the crypto market and trades and positions can take longer to be completed.
The two most profitable trades included the GBP/AUD trading pair with 448 and 335 pips each on different dates. The third most profitable trade was in the USD/CAD trading pair with 104 pips. The only two trades that didn’t provide gains to users were in the first ten days of December int he NZD/USD and EUR/JPY trading pairs with -77 and -53 pips each.
It is worth mentioning that it happens something similar to what happens in BitMex. Users will see that the average profit per trade will be larger if the trade remains open for a longer period of time. As mentioned before, longer trades allow the market to move forward and evolve as it was expected.
AltSignals has also reported the results for the Binance exchange in December 2019. The win rate was 41% for Binance trades and users that followed all the trading signals from AltSignals Binance registered a profit of 21% the last month. In general, Binance tends to have a smaller profit than BitMex.
This cryptocurrency exchange has a large number of trading pairs that help users diversify their portfolios. Having this as an option is very positive to reduce the risk that many users have in specific cryptocurrencies. However, it is always advised not to invest all the funds in virtual currencies.
As per the report released this month, there were 12 signals of which 5 were winning trades and 7 were losing trades. Although the month started negatively, things changed around December 17th when a massive gain of 21.8% allowed traders to change their negative portfolios for a profitable one.
By the end of the month, there were already several trades that provided users with nice gains. The most profitable trades were provided by the following trading pairs: WAN/BTC (15.2%), BAT/BTC (13.3%) and WABI/BTC (6.6%). Meanwhile, the trading pairs that experienced negative results were BAT/BTC (-5.2%), BAT/BTC (-4.9%) and VITE/BTC (-4.4%).