Can you use scalping signals with Telegram?

Can you really profit from Trading signals sourced from Telegram? 

Telegram is a social application just like Discord, Instagram and Whatsapp. However, Telegram and Discord have both won the attention of Web 3.0 Community Managers. 

Community managers in this day and age are the equivalent of social media managers back in the day.As of 2021, Telegram was recording over 25 million new registrations within 72 hours. 

A large part of this number comprised of people interested in Telegram’s privacy features and encryption, while another large part was crypto enthusiasts.

The lovely relationship between the social app and crypto users resulted into the launch of The Ton Blockchain. An official Telegram blockchain. The blockchain successfully raised over $1 billion in funding, until it was discontinued in April due to regulatory issues. Nonetheless, Telegram is still solid and faces an upward race to bring the last of its user into crypto. 

The social app prides in its pool of web 3.0 communities. Blockchain experts, developers, content creators and community managers meet everyday through information, AMA sessions and web 3.0 games. A situation that remains crucial for projects, especially as CMOs focus on bringing more users. 

Another important phenomenon is the existence of expert technical analysts providing commentary and signals on crypto trading. If you join a credible trading signal provider on Telegram, you will always find quality signals that are profitable. 

But this is not to say you can always rely on these signals, I mean you can rely on Telegram signals just as you can rely on other providers. For as long as the team behind the provider is credible, reliable and has vast positive reviews. 

Be it scalping, arbitrage or any type of trading. Telegram signals can help you turn tables in trading and optimize a winning streak. 

So let’s look at how to choose a suitable Telegram Signal Provider for scalping. 

Choosing a Suitable Telegram Signal Provider for Scalping

Quality of the Signals – It will not matter you have chosen a free or premium Telegram Channel subscription. Make sure the subscription is quality and the team behind it is quality and committed to your success. There are so many dubious channels, it would be devastating to see you lose money just because you got loosely researched signals.  There are only 2 methods of testing the quality of a signal provider. The first one is testing the signal practicaly with a small capital. Test atleast 3 signals and leave if all of them seem dubious. The second method is doing a background check by analysing user reviews. 

User Reviews –  TrustPilot analyses online service providers by checking through user reviews and ratings. User reviews can help back the trustworthiness of Premium Telegram Signal providers. Make sure the signal provider has an account on TrustPilot. If it does have, check the ratings and reviews.Many low-star ratings translates into a red-flag.

Experience – What is the track record of the signal? How many years has it existed? Or rather what’s the experience of the team in providing quality trading signals and analysis? Pay attention to the channel owners, the team leads must have atleast 5 – 10 years of trading experience. 

Value for your money – Analyze the price of buying a membership in any Telegram signals channel. Ensure the price and the value you get are both consistent. A decent price should come with a decent signal. There would be nothing worse than paying for a premium subscription and failing to reap enough value to compensate for the money. Check if the signal provider has a money-back guarantee just in case you decide to abandon the bad ship midstream. 

In the next session, you will learn how to get Telegram signals and implement them in your trading system. 

How to use Telegram Signals when Scalping?

Download the Telegram App. If you have one, skip this step. Avoid using the desktop web version and instead download the app. 

Assuming you already found a relevant signal provider channel. You will find any of two types of channels. Paid or free channels. There are many channels and a Google search is the best way to start looking for one. 

Once you subscribe to a channel, make sure you turn on notifications for that channel. Also it would be important to pin the channel at the top of your chats. This ensures you never miss a beat. Remember, the high volatility of the crypto market makes crypto signals relevant for a very short duration. 

Most paid channels have an official website. You need to visit their official site and pay for the subscription. Then you will be given access to their channel.  

Telegram signals are like any other signal. The format is the same. A Stop Loss and Take Profit target. An entry position and whether you are longing or shorting.  

A Stop Loss target will prevent you from losing big amounts of money since it automatically closes a position when a trader hits a pre-determined loss. 

The Take Profit target allows you to secure profits once the trade hits a particular position.  Remember to utilize the signal immediately you receive it.

Scalping with Telegram FAQs

Benefits of Telegram Signals when Scalping?

Offers a 3rd eye especially when uncertain  – Scalping signals are from people who have committed their lives observing market movements, undertaking technical analysis and providing insight on price direction. It can take a toll of your mental health when attempting to predict the direction of the market. However, trading signals can help you make some profit even when it’s tough to predict market patterns. 

Quiet markets – Have you ever had a feeling of infinite waiting when watching a slow quiet market? A quiet market could only move like 5 -10 pips. When a trader employs scalping signals, they can easily benefit from quiet markets since they do not have to necessarily watch  entire market movements. 

Conclusion

Experts source scalping signals and trading strategies on the basis of analysing technical indicators. Popular indicators they implement include moving averages, support and resistance levels, stochastic and trend lines among others. Since scalping is trading within short duration, other fundamentals such as data releases, economic events, political commentary and central bank speeches have a direct impact on market direction. Scalping signals will help you look through all these factors from the help of expert analysts experiend in the art of predicting market direction.