Many people, thinking about ones who bought BTC before 2017, have a big desire to catch the moment and start trading cryptocurrencies to earn profits. Cryptocurrency trading has different strategies, and each trader should decide which way is more convenient for him. To make it easier to choose, we will tell you about these strategies.
Today, we will talk about daily crypto signals. In this article, you will find out about the best crypto signals Telegram groups, their pros and cons, and a couple of up-to-date tips. So, don’t be afraid to get lost in this vast world of trading signals – the team of CryptoSignalsHub is going to educate you!
Day trading crypto signals or daily crypto signals are predictions that indicate the price of a particular coin in the future. As in the case of common trade signals, daily crypto signals can be for long or short positions, with or without leverages. The only difference between day trading crypto signals and common signals is the period of open positions.
A day trader opens a position today at 9 am. Before opening it, he did a daily technical analysis and got the entries, targets & stop loss predictions. A day trader will close this position today in the evening, and this does not depend on the result.
The main rule of day trading signals is that all the positions that are opened today, should be closed today as well.
Frankly speaking, not many traders like the day trading strategy – many prefer swing crypto signals. The thing is that the level of stress is quite high during the day because traders try to get all the profits possible before they close the position. If you want to trade with daily quality signals and remain calm, you can find a good crypto signals app like Cornix. It automates your trades, and you can leave it active and just come back at the end of the day to close the positions.
Daily crypto signals, like any other trading signals, may be fair and reasonable or completely foolish. The goal of our team is to provide you – potential traders, with profitable and fair crypto signal providers. You don’t need to do a thing – just visit our website and select the best crypto signals Telegram groups for you.
But, to make sure you understand our strategy and the due diligence process, we are going to explain the factors we consider while checking every crypto trading group.
Every person who looks for a long-term crypto signals Telegram group wants one thing – profits. That is why, first things first, we check if trade ideas bring profit. According to our experience, the 40-60% of profit per month is a great result of a legit day trading crypto Telegram group.
Also, the accuracy of the signals providers is important. Accuracy stands for the % of winning signals out of all of them. We need to say: there are no crypto trading signal providers with 100% accuracy – crypto markets are not completely predictable. But, 50-75% accuracy is a decent result.
Crypto signals Telegram groups are not new on the market. Back in 2017, there were many big scammers, who stole big sums of money from new traders. That is why one of the biggest goals for us is to check everything we can – even the smallest detail. Thus, we will know that the channel didn’t change its name, didn’t boost subscribers, and didn’t participate in pump and dump schemes or scam promos.
Here, our task is to compare profit & accuracy with the price. Many channels set too high prices, and we need you to be satisfied both with the profit and the subscription price. To be precise, we can tell you that monthly subscriptions up to 90 USD are average prices on the market. If you want to trade with a channel that charges 100+ USD per month, check everything carefully before subscribing.
Communication with a channels’ admins is crucial, especially the response time and quality. We contact admins, ask questions to be sure they reply as fast as possible, and provide deep and understandable answers.
You can always check the level of communication by yourself – discuss all the details with the admin before subscribing. This will give you an understanding of his politeness, crypto markets knowledge, speed, etc.
When a crypto signal provider claims he does day trading, this means he should open multiple positions during the day. You can rarely see a day trader opening one position per day. So, we check if the number of signals is great and enough to give good profits.
But, we don’t mean that having 10+ Bitcoin trading signals is good – the amount should be reasonable. If we talk about the day trading signal service, the good number of cryptocurrency trading signals does not exceed 5-7 trades per day.
Many day traders usually use leverages that can multiply profits. On the contrary, they can multiply losses as well. Our task is to check how accurately a trader uses leverages. For example, when we see 50x+ leverages for signals, this is a red flag for us. This is not a 100% indication of scammers, but 95% of scammers use big leverages to create a vision of “big profits” – though, they never show losses.
Every trading strategy has its pros and cons. Daily crypto trading signals are not an exception.
Of course, when the strategy is used in a clever and proper way, the number of pros will always be higher than the number of cons. Here, we will describe the characteristics of the best crypto signals Telegram group:
👍🏻 Regular paid signals are present.
👍🏻 The level of stress is lower because you always close your positions at the end of the day.
👍🏻 Profits may be higher because it is easier to guess the outcome during the day.
👍🏻 Free crypto signals may be found in a crypto Telegram group.
👍🏻 You can always contact the trader and ask questions regarding the technical analysis or a crypto signal service.
👍🏻 You can get proper knowledge about the crypto market and start trading by yourself.
The number of pros does not end here – if you choose the best crypto trading signals group, you will get much more benefits like free education packages, free chat, etc.
Even the best crypto trading strategy has its cons, and this can not be avoided even if you choose the best paid crypto signals. Here are the most popular cons you may meet while trading with daily crypto signals:
👎🏻 The level of stress during the day may be higher because you need to get quick profits – you can not wait for weeks or months.
👎🏻 This strategy is not for calm and, let’s say, lazy traders – you need to be present all day to follow a trading signal, even if it was taken from professional traders’ opinion.
As you remember, here we described an ideal situation of working with a legit crypto signals provider. If you, by accident, subscribe to a scam crypto group, you may see more cons.
Free signals are a great way to earn some money and check the crypto trading signal service for free. Day trading channels also post free crypto signals – at least those that are legit and fair. There is no completely free crypto signals service out there, but you can always stick with free signals and don’t buy a subscription.
You may ask:“Are free crypto trading signals work enough to earn a lot of money?”
No. A free crypto signal is a great help to check the service to buy the subscription later, but it will not bring you good money.
Day trading crypto signals are crypto market predictions, that indicate the price movements during a particular day. The crypto signal should contain the entry price, exchanges to open the trade, target prices, and stop loss. If the signal is margin or futures, the leverage should be indicated as well.
The best day trading crypto signals Telegram group is a channel that has analyzed and fair crypto signals, great level of support, education, and affordable prices. Usually, the better the communication is, the more benefits you can get while trading.
If you work with professional traders, the day trading crypto signals will be profitable. But, never follow trading signal providers blindly – try to do your research, even if it is a basic one.
Yes, it is completely safe to use daily trading signals. If you are afraid to trade on your own, you can even subscribe to an automated trading bot or a smart trading bot, which will ease the process of day trading and reduce your stress. If you want to be 100% sure you use the best crypto signals, follow our website to find the best signal services with a risk management strategy, fundamental research, and in-depth technical analysis.
The difference between day trading and swing crypto signals is in the period you may leave the position open. When day trading, you need to close the position on the same day you opened it. If you use a swing strategy, you may leave the position open for a couple of days.