Cryptocurrency trading involves many different strategies, and each trader – novice or professional, should choose the strategy based on different factors. Choosing a crypto trading strategy is a complex process, and many young crypto traders are completely lost in this world of terms. CryptoSignalsHub team understands this pain – several years ago we were the same young traders who had hard times finding clear information about swing trading.
So, today is your lucky day!
In this article, we are going to discuss all the details of swing trading, its features, etc. Even better, we will advise you on how to find a legit swing trading crypto Telegram group, and how not to become a victim of scammers.
The swing trading strategy is one of the most popular trading strategies in crypto markets. Swing traders open positions that can be active for several days – sometimes, even weeks. The best idea of this strategy is the possibility to catch all the possible price movements.
The thing is, the second popular strategy – day trading, involves opening and closing a position on the same day. Thus, day traders can catch only short-term movements, which sometimes limits their profits.
In day trading, technical analysis does not always help. The thing is that the 15-min, 30-min, or 1-hour charts contain a low of “market noise” – the false predictions that may ruin the trade. Swing trading, on the contrary, is usually based on technical analysis, because all the best patterns can be observed on 1-day+ charts.
So, swing trading is a professional crypto trading strategy that involves opening deals that may stay open for several days or weeks, with predictions based on technical analysis.
Swing trading, being a popular strategy, creates a lot of attention in the cryptocurrency market. According to the statistics, around 80% of crypto channels are considered scam channels, which exist only to steal the money of inexperienced crypto traders. That is why the first goal of our dedicated team is to ensure all the channels we recommend are legit and useful in terms of profit.
Now, we are going to tell you about factors we consider while doing due diligence on swing crypto Telegram groups.
What is the main reason people decide to buy a subscription for a long-term crypto signals Telegram group?
Profits, of course. The bigger, the better.
Usually, people pay attention to the reviews made by a group and their reposts on the free channel. Unfortunately, not every group shows the real trading ideas and results – most of them fake the monthly reviews, so newcomers see 100%+ profits and buy the subscription.
We evaluate swing traders and their crypto signals to show your the real profit and accuracy of their crypto trading ideas. Cryptocurrency market trends are always different, but even during the bull run (or alt-season) it is impossible to have 100% accurate signals – even the professional crypto traders with valuable trading data have losses.
The crypto signals market is not as young as you think. The first big crypto signals channels started to appear at the beginning of 2017. The most interesting part is that 99% of them changed their names.
You could say:
“Why change the name if the channel is famous?”
Well, they were famous not because of the high profits they were bringing to the subscribers, but because of the high sums of crypto assets they stole from them. Everything is very simple. Unfortunately, at that time people did not have enough info about scammers and how to distinguish them from all the crypto signals Telegram channels.
Lucky for you, you have our great team of professionals, who analyze the history of the channel to find out if the owner changed its name. This helps us to see if we should look for red flags.
Sometimes, prices on subscriptions may clearly show if the channel is fair. For example:
Our team has recently reviewed a channel, the general monthly profit of which was 22%. It means, that if you put 100 USD in a signal, you would earn 220 USD with them in general during the whole month. This is not a lot. But, their monthly subscription costs 125 USD. This is absolutely unfair.
You may say:
“Maybe they had a bad month!”
Yes, that is what we thought. We decided to check for a couple of more months, and that’s what we got:
Don’t worry, you will not see this channel among the recommended ones – we decided to show you an example of how the general profit and the subscriptions price may show the real intentions of the crypto traders who own Telegram channels.
When choosing a swing trading group, you should pay a big attention to how the channel’s admin talks, how frequently he answers, and if his answers are informative enough.
By the way, it is also very easy to see the real intentions while checking the level of communication. You should avoid the swing trade crypto channel is an admin:
Usually, the channels that have a goal of only selling the subscriptions, do not care about the future crypto trading results and do not provide valuable trading data to the subscribers.
The frequency of signals usually depends on the main trader’s trading skills and risk management techniques applied. If behind the channel are experienced swing traders with in-depth technical analysis knowledge, you may see 3-4 signals per day.
But, the number of crypto trading signals per day does not usually indicate the level of the trader’s knowledge. Sometimes, this is a choice of a trader. If this is it, he should always mention the true number of signals subscribers will receive.
Basically, that’s what we check – if the common number of signals per day or per week is the same as the admin promises before users buy a subscription.
Leverage is a special technique when a trader uses the borrowed capital to trade crypto with the intention to receive higher profits. This sounds very sweet, but there is one dangerous “but”. We always say that the leverage, especially the x10+, should be used by highly experienced traders.
Unfortunately, many signal providers like to use leverages. Their biggest desire is to use x50 or x100, which usually leads to substantial losses. On the one hand, the subscriber may always avoid the trade with the high leverage, on the other hand, some of them may not know the real consequences.
If you see the trading platforms offering signals with high leverages, and you understand you have a little knowledge about them, avoid this channel. Most probably, you will suffer losses.
Our trading team will always indicate if the channel uses margin trading or leverages, how high they are, and if the channel really uses the swing trading strategies.
Most of the crypto signals are very similar, but they still may have some differences depending on the trading strategy that is used. Now, let’s indicate the most important components of a crypto signal for swing trading.
This component is very controversial. Let’s say if you subscribe to a channel and they tell you:
“We don’t have a single strategy, we trade all the signals”.
In such a situation, the traders must indicate the term – short, mid, or long. This is because you don’t know what strategy they are using now and when you can expect the trade to reach targets.
There may be another situation. The admin may tell you:
“In our trades, we use only swing trading strategies”.
Thus, when you see the signal, you know that this is a mid-term, and the traders must not indicate the term.
This component is absolutely understandable – the trader should mention the exchanges, so you know where you should open this trade.
There may be only one situation where a trader does not mention the exchanges and he has the right to do it: the channel is using auto trading with the help of a bot like Cornix. The thing is that this bot and other similar programs scan the crypto market to find an exchange where this trading pair is listed.
We don’t think you need many explanations here. It is as clear as day – the trader should indicate the trading pair, which consists of two coins. The trading pairs may be represented in the following ways:
This, we suppose, is one of the most important components in a swing crypto signal. Target prices show you when you need to close the signal – precisely, at what price. The number of targets could be different – you can see only one target, or even five – it doesn’t matter.
The key to setting take-profit prices is that the trader should carefully analyze the price movements to set a reasonable level of the future price. This concerns long trades (target prices are higher than entry prices) and short sell trades (target prices are lower than entry prices).
The better the trader analyzed the technical indicators, the specific price to enter, and the market sentiment, the more he can maximize profits.
Well, here is the king of our discussions – stop loss. Every newbie knows that stop-loss is a crucial part of every signal – it does not matter if you use Binance Futures or do spot trading, you always should use the stop loss.
You may ask:
“If it is so crucial, why discuss it?”
Believe it or not, there are still crypto swing channels that don’t use it. We are not going to name any of them – we only say that one of the popular channels has a very long history of not using stop losses.
Why are they doing it?
The traders behind VIP channels don’t place the stop losses for altcoin signals to avoid the responsibility. When you see all of the signals are in a big loss and you contact the trader to ask why this happened, he may say something like this:
“I did not put the stop loss, but you should follow your trades! I closed the signal days ago when I saw it should be closed.”
As you may see, swing trading crypto has many pitfalls, and it is crucial for everyone (for newcomers in swing trading, especially) to follow our website. We will help you find a great and fair swing trading crypto Telegram channel with powerful trade ideas, risk management techniques, an established track record, and plenty of other key features.
👍🏻 With swing trading, you have a higher probability to guess the price movements with the help of technical analysis and fundamental analysis.
👍🏻 Swing trading gives you more time to hold the positions open, which may bring higher profits.
👍🏻 Swing trading crypto is convenient because you can trade crypto 24/7 with no need to close the positions on the same day.
👍🏻 Swing trading is less stressful during the day.
👍🏻 There are many swing trading crypto Telegram groups out there.
👎🏻 You may lose money during night or weekend gaps when you do not observe the situation.
👎🏻 Swing crypto signals block your capital more than, for example, day trading crypto signals.
👎🏻 It is hard to guess the term – you can’t know the exact number of days when the swing trades will be open on the crypto market.
Unfortunately, scammers are everywhere in the crypto market. Sometimes, the trading channel looks so legit that you can’t even say the crypto swing traders behind it want to scam you. But, don’t forget that our experienced team guards you, your time, and your money – we will always tell you which trading channel is a scam.
In case you want to check the channel yourself – a second opinion is always recommended, you may consider the following factors.
1) Avoid channels with very high prices on subscriptions.
There are trading channels with, let’s say common services to trade BTC or spot VIP signals. But, for an unknown reason, they charge an enormous amount of money to subscribe. We recommend you avoid such trading groups because there is a 99% chance they are scammers.
There is this 1% of groups who charge a lot of money for a reason. For example, trading channels offering BitMEX signals may ask more than those who do spot trading. The same goes for crypto futures trading and trading bots among the key features.
2) Check the reviews from previous or current traders.
There are many platforms that may help you do it. For example, you can check the trading reviews on Reddit – they are mostly fair and very informative. Also, check for a TrustPilor profile or a channel – you may find many interesting details about the crypto trading channel.
Remember one thing:
Every crypto trading group may have bad reviews. This may be because people trade crypto differently, and the trading signals of particular groups may be bad or inconvenient for a particular person.
3) Observe the free Telegram group.
It is vital to check the free channel before subscribing to the VIP channel. You may find free altcoins trading signals that will help you to understand the strategy the trading platform is using. Also, you will be able to evaluate the trading profits.
If you see that the channel does not offer free signals, contact the admin and ask for a trial or fresh signals from the VIP service. The trial is like a demo account – it allows you to check the services for free. Of course, free trading signals will not help you to expand your crypto portfolio, but you will find out if the VIP channel to trade crypto is legit.
4) Never send the money “in advance”.
Maybe the suggestion sounds a bit confusing, but it is very important. The thing is that there is a special type of scam trading channels – pump and dump trading groups. Some of them have the following scheme:
They announce that today, in, let’s say, 3 hours the particular coin’s price will increase by 300%. They write “Only people who send 0.5+ BTC will take part in this trading pump”.
Many people. No, a huge number of people believe them and send money!
We will explain it better in the next article about pump and dump trading signals.
The only thing you need to remember here is that you should never send money to such groups. even if they say they conclude a technical analysis and have experience in managing retail investor accounts and trading CFDs – they are typical and ruthless scammers.
There are plenty of ways to buy crypto for trading with signal providers:
🟢 You may use a trading platform like Binance, Coinbase, or Crypto.com.
🟢 You may find a crypto wallet that allows you to buy crypto via credit/debit card or bank transfers.
🟢 You may use a broker to do this (remember, that most brokers change fees when you purchase crypto).
🟢 You may even ask your friend to send you crypto for trading signals.
Remember to use only reviewed, trusted, and experienced platforms while purchasing coins for crypto swing trades. If you wish to read more about ways to purchase crypto, you may visit the crypto signals guide.
It is hard to name one best channel with experienced crypto swing traders. But, we can say, that such a channel has traders with big experience in different fields – trading CFDs, managing retail investor accounts, margin trading, working with trading bots, etc.
Also, such a channel should have the following key features: 24/7 customer support, a trial (aka demo account)/signals in the free channel, responsible admin, and enough risk-averse manner signals in the VIP channel.
Yes, it is absolutely legit to trade with swing trade crypto providers. But, we recommend you check every channel on its key features, past activity, and other factors we discussed in this guide.
You can buy cryptocurrency using many ways – crypto exchanges, brokers, and online wallets. The only thing we ask you to remember is to work with verified crypto services.
Yes, the swing trade crypto strategy is considered more profitable than other existing strategies because it allows traders to hold the coins for a bigger period than, for example, while using day trading.