Cryptocurrency trading signals have been expanding in the market during the last years allowing beginner and experienced traders to trade cryptocurrencies in a more efficient way. In this article, we will show you and explain to you why it is always important to follow crypto trading signals and how it can be done properly to maximize profits while trading.
Introduction to Crypto Trading Signals
As the cryptocurrency market expanded in the last few years, specifically after the bull market of 2016 and 2017, new traders, both beginners and experienced entered the crypto space. The best and most efficient way to buy and sell cryptocurrencies is by doing so in a crypto exchange, something that allowed many traders to make large profits.
Of course, there were other traders that didn’t experience the same results. One of the reasons why they couldn’t do so was due to the fact that 2018 and part of 2019 were marked by bear markets. This totally affected the space and the potential profits many users could have.
However, there was a way to remain profitable despite the bear market: Crypto Trading Signals. This solution provides users with entry and exit points for a wide range of trading pairs, including BTC/USD, LTC/USD or ETH/USD, among others. Some of these crypto trading signals groups can be easily accessed through Telegram.
You will receive daily alerts about different trading pairs for different exchanges, including Binance and BitMex, two of the largest and most popular crypto-related trading platforms for advanced and beginner users.
According to the crypto exchange you trade with and the crypto trading signals you will follow, the different the returns and profits that you will eventually make in the future. While following BitMex seems to be highly profitable, Binance may not offer similar returns as BitMex. However, Binance has a larger number of trading pairs, which can suit better to your trading strategy and give you more options at the time of handling digital assets.
AltSignals Crypto Trading Signals
One of the most popular crypto trading signals groups on Telegram is AltSignals. Operating since 2017, the team behind this project has been providing some of the most profitable trading signals and solutions in the market for traders to improve their trading strategies and become much more profitable.
More conservative enthusiasts that do not trade in the crypto market as often as other trading experts do not make the necessary research on how to become more efficient by trading. Following AltSignals doesn’t mean that the user will have to follow each of the trades proposed.
Instead, there are many other implications for users that start trading with AltSignals. For example, they can set up a trading bot that would trade on their behalf while they do other things. Moreover, it will be possible for other users to confirm entry and exit points in the market with ease and in just a few steps.
All of these can be performed seamlessly and easily through Telegram and a cryptocurrency exchange such as Binance or BitMex.
AltSigna’s official definition for Trade Calls reads as follows:
“Trade calls otherwise commonly known as signals are a set of instructions sent to you in real time which layout which asset to buy, what price to buy it at, the targets to sell it at and most importantly the correct stop loss to ensure if a trade goes in the wrong direction the loss is minimal!”
If you want to learn more, you can read our complete guide about Binance and how to trade cryptocurrencies.
Regarding BitMex, we have created a margin trading guide related to how to trade with leverage in the cryptocurrency market.
Yes, AltSignals is also offering trading signals for margin traders that want to improve their performance even further in the coming months. Trading with leverage is highly profitable and it would allow you to have larger profits. Nonetheless, it is also riskier and it needs users to be highly trained to handle this risk. As mentioned before, you can check our margin trading guide and learn how this kind of trading works and how it can help you have better results at the end of the day.
Is it Profitable? Yes, of course!
The cryptocurrency market is very volatile. Some years can be very positive, such as 2017, while others can be totally negative, for example, 2018. Other years like the one that passed can have bull runs and bear trends.
This can make it very tricky to remain profitable in the cryptocurrency market during the negative years. Traders that are sometimes trying to trade a specific trend can easily be in negative territory if they do not close their open positions on time.
These situations show that by following AltSignals as one of the most trustworthy crypto trading signals groups in the market would allow you to remain profitable. The team behind AltSignals is working on a daily basis to provide the best services to users and to help individuals be profitable in the market.
Those users that have paid for the premium subscription will also receive detailed information about the market, sentiment reports, analytical articles and more things. Everything is performed in a very professional and distinguished way.
It is worth mentioning that AltSignals also provides information to users regarding how to place the trades, whether to use leverage or not and how to set stop loss. By using stop loss it is possible to minimize the losses and maximize the winning trades. When a wrong trade is placed, a stop loss will immediately close that order. But if a winning trade is opened, the possibilities are we will not lose this position and we will be experiencing a win and registering profits.
If you don’t know how to use the stop-loss functionality in the exchange you are trading on, don’t be worried. It is very easy to do so and you will understand how to do it. If you are not sure about it, you can read our guides about how to handle crypto exchanges. You can find the links in the previous section.
Crypto Trading Signals Reports
AltSignals provides monthly reports about the performance of the trading signals they are providing. This increases the trust of users that want to know how their trading activities were performed and which were the most profitable trades in a given period of time.
While some of the crypto trading signals groups on Telegram do not provide these reports, AltSignals is very strict in releasing monthly reports for BitMex, Binance and also for their FX users.
For example, in December 2019, the winning rate for BitMex was 92% with 39 signals provided and 36 wins. There were only 3 losses in the last month. Binance and Forex were also profitable for traders.
Forex trading signals, which has been servicing users since October 2019, experienced its best month ever with a win rate of 82%. Of 11 signals, 9 were winning signals and just 2 were losing trades. This represents an increase of 1 percentage point compared to November 2019 when the win rate was 81%. In October 2019, the win rate was 78%.
Regarding Binance trading signals, there were 12 signals of which 5 were winners and 7 were losses in December 2019. Moreover, the win rate reached 41% this month. However, the previous months were very profitable with November and October registering 245% gains and a win rate of 68.2% and 81.5%, respectively.
This shows that this is very profitable to trade with AltSignals. Although you can decide to follow just some of the trades proposed, the chances are thee trades are going to be profitable most of the times.
Other companies do not offer these reports because they sometimes have weak results or because they do not want to scare users when they have negative months. Nonetheless, AltSignals considers it is highly important to provide transparency and clarity with the results because users really appreciate that information.
If you want to know more about the results obtained by AltSignals in the last months, you can visit the official page and download the pdf reports.
Trading with AltSignals offers users the possibility to improve their trading strategy and become profitable by following crypto trading signals directly on Telegram. As we shared with you in this article, the reports provided by AltSignals show that it is highly profitable to follow crypto trading signals to improve your trading strategy.
Before starting with crypto trading signals groups, the best thing to do is to buy and sell cryptocurrencies to understand how exchanges work, which are the different order types and to feel comfortable trading in this specific exchange. Some platforms offer crypto trading demo accounts for you not to be worried about losing funds.
Virtual currency trading is highly speculative and should be done only by experienced traders. The price of these assets changes at all times and we are not responsible for any decision you make. The information provided in this article should be used for informative purposes only and it is not considered investment advice. Always do your own research and always invest what you are able to lose.