Are trading signals on social media worth it?

Asked 3 years ago

Hi! I'm curious about these social media trading signals (checking out both crypto and stock trading signals), mainly on Twitter and Telegram. Do they work? What social signal providers can you recommend I check out?

Andrew Moran

Monday, August 23, 2021

While there are some reliable social media accounts that offer reliable analysis, it is like trying to find a needle in a haystack.

The problem with relying on Twitter and Telegram for stock signals is that most users are trying to pump up a stock or partake in the next craze. Or it might be wishful thinking on the part of the social media stock experts.

You are better off doing your due diligence than taking the word of an anonymous person on Twitter.

The worst are the users with zero followers and just joined a couple of days ago, peddling some Discord link and telling everyone that they have seen their portfolios surge 45%.

If you want to combine investing and social media, you might be better off investing in the VanEck Vectors Social Sentiment (BUZZ) exchange-traded fund (ETF), which invests in companies that have a positive social media sentiment.

Andia Rispah Igobwa

Tuesday, August 24, 2021

If one follows an expert who provides quality information, then there are advantages and disadvantages.

The upside of following experts is that they provide very strong signals at a regular cadence (one or more signals per day), which may help investors make better-investing decisions.

The downside of following experts is that skilled and experienced traders can use these same social media channels to boost the credibility of their trading signals.

They do this while using small market movements on the opposite side of those signals as market entry opportunities for maximum profit or—in other words—to "dry trade."

A useful workaround may be to follow someone who also trades in larger markets such as stocks, futures contracts, etc. to avoid where volume charts above $100.

Avik Das

Tuesday, November 16, 2021

Trading signals can be a great option if you are just starting out, and you don't have enough knowledge about trading. Whether Twitter Crypto signals or Telegram, following good social signal providers can lead to a good result. But the downside is you might not learn a lot while doing trading signals. If you are willing to gain good knowledge on trading make a profit in the long term then trading signals might not be a good idea.

Write an answer...


Please follow our  Community Guidelines

Can't find what you're looking for?