Telegram signal's channels

Trading Discussion Currencies
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Hello people! What do you think about the Telegram channels that provide a free signal? Do you believe they are trustworthy? Can we rely on them?
I utilized part of their signal; however, I’m not sure if it will be effective afterward.

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Personally I do not trust any of them. First, how they benefit from that channel since its free? because for sure there is a benefit there for them. Also, if their signals are accurate, then why they are sharing them for free? generally I don’t trust any of them.

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One thing to remember is that even though certain Forex alerts and trading signals are ‘free,’ they may not be in the long term, since they may lead you to lose money.

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You could try tradertom.com. He is a FX pro focusing on major indices, who spends an hour or two trading LIVE on Telegram when London and NY open. Whether you follow his trades or not, it’s up to you.

As is the trading norm, he has both winning and losing trades - that you can rely on.

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I agree with @Oli_jackson
Something is fishy about them. why would they share all of the signals for free?

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@flamingoproxy
If someone can enlighten us about this topic, that person is you.

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Several reasons I can think of.

  1. Advertising. It drives people to look at their website and other things they’re selling. Offering something for free gets people’s attention.

  2. Ego. Lots of people crave attention and like to boast about their ability.

  3. Helping others. Most people had help from somebody at some point and want to help others. Take @Dennis3450 and his thread. He isn’t profiting from doing that on here and sharing his experience of the markets, but I’m very grateful that he does share.

For most it’s probable all 3 come into play, but I wouldn’t trust a signal from anybody. It’s too easy to fake results and even people that I know are successful get it wrong badly. I’ve seen tradertom have months with big losses and he’s made more money than I ever will

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sorry, really not: i know nothing about it at all (but in principle i completely see the good sense and logic of all the responses above!)

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I’ve tried Telegram signals in the past, when I was still starting out. :open_mouth: And from my own experience, they didn’t really work for me. I’m not sure if I was the problem or there were really something suspicious about the signals. But, I decided that it might be best to really rely on my own strategy and myself when it comes to opening positions. :sweat_smile:

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But of course, it could work for others! :smiley: The experience can greatly differ. :blush:

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I feel like all of them are scammy tbh!

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I feel you! It’s always better to trust your own strategy rather than relying on signals from someone else. It’s hard to know for sure if the signal is legitimate or not. Plus, developing your own trading skills and strategies can be a rewarding experience!

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I completely support this statement. I dislike being dependent on other things. What if that Telegram channel suddenly disappears? Then, what should I do? However, you can always rely on yourself if you create your own approach.

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That is wise @Oli_jackson
It seems you have long term goals.
Because most people just want to earn money and they do everything for that. but you want to have your own strategy. it indicates that you have a long term goal.

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Completely true. Most of them start advertising after a while. I mean, C’mon we all want money. We trade, they start channels to share fake signals, gain a reputation and then earn money out of ads.

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they provide some free info although they are unique info, they convince you to ask them to mentor your trdaes and earn money at the end. i guess it works this way.

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I don’t know really i brought this question here to ask as if you used or not. let me know the result.

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have you ever tried that before? use one signal and see what will happen?

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Thank you for sharing your thoughts on the various reasons why people might provide free trading signals.It’s great to see that you appreciate the contributions of @Dennis3450 aI agree with your cautionary approach of not fully relying on signals from anyone, as it’s essential to exercise skepticism and conduct your own analysis. By the way, what’s your opinion on using trading signals in general?nd his thread.

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I’m glad to see that this question is generating discussion. Trusting free signals can be quite challenging. It’s always a dilemma whether to rely on them or not. Evaluating the reliability and accuracy of these signals can be difficult. What are your thoughts? Do you generally trust free signals, or do you approach them with skepticism?