Hello Crypto Enthusiasts,

We've probably all heard of the famous crypto signal groups. If you happen to be unaware of them, they are basically groups where one or more "experienced traders" give you signals on when to buy certain coins and when to sell them. They usually charge a monthly fee to be part of the group. The group I joined offered signals for spot and futures trading with leverage up to 50X.

I saw one of these groups advertised a lot on social media in my country, and they were offering a three-day free trial, so I thought, "Why not? Let's see what it's all about." I joined their Telegram group, where there were about 500 members. In the group, they posted about their supposedly high returns, but interestingly, they never mentioned losses, which is typical. This was the "standard" group, where people who hadn't paid yet were. Since I had the free trial, I was invited to the VIP group.

To clarify, I've been day trading for a while now. I'm not an expert, but I've managed to make decent profits, so I'm not a total newbie. I decided to skip the spot trading signals because I didn't want to be stuck with the "shitcoins" they suggested. I was only interested in futures. The managers called themselves "professors" and claimed to have years of experience and portfolios worth hundreds of thousands of dollars, which would be impressive if it were true (spoiler: it's not).

How does it work?

Basically, they send you a signal with entry prices, take profit points, and a stop loss. We were using Binance, and they suggested using 5-10% of your portfolio on each trade. You are supposed to copy each signal. The first signal I received was Shiba Inu, and I managed to make around 12% profit with 10x leverage. The next two signals were for “shitcoins,” and I lost on both. They told us to close the trade before the stop loss was hit, which made me lose around 8% on each. The stop loss they suggested was around -25%.

Then came the time for the famous 50x leverage trade. We were advised to open a long position on BTC with 50x. I hesitated, but in order to be able to tell the whole experience, I decided to do it. I managed to make a 60% profit. So far, so good, but that's when things started to go wrong.

My free trial ended and I was asked to pay $30 to continue. I decided to pay so I could tell my experience for a full month. It was disastrous. Most of the trades were with “shitcoins” and losses were frequent. They only posted their profits in the standard group when we won, and rarely mentioned losses. I only saw them post a loss once, and it was only 2%, and then they said they had “saved the day.” In short, I ended up losing money.

My results on Binance after 30 days were as follows:

  • Total profit: $40.56 USD

  • Total loss: $79.10 USD

  • Net result: -$38.54 USD

As you can see, I didn't make any money. And I didn't participate in all the trades, so I probably would have lost even more. Now imagine people who invest more money per trade, it must feel terrible. I didn't want to risk huge amounts, but it's clear how bad it turned out. My losses were almost double my profits.

When I renewed my subscription, there were about 40 of us in the group. That means they were making about $1,200 a month from subscriptions alone, and there will always be new suckers to replace the ones who leave. That's a lot of money.

Conclusion: Don't join any signal groups, whether in crypto or anywhere else. These "traders" are usually inexperienced traders who present themselves as experts to lure you in. They will often show you their supposed profits to convince you, but most of the time they probably got them from the internet.

Take care of yourself.


Conclusion: If someone had the ability to turn things into gold, why would they sell it to you?

#Señales #Signals #Education #educational #cryptoscam