Avoid
I was a member of the group during September and have made an analysis of all the signals that I received and the outcomes. To be fair, it was a difficult trading month but that was exactly why I paid for signals, to help me make better choices.
According to their website, they had an 84% level of accuracy this month but I don't see how that can be anything other than a plain lie. Of 40 signals that I received, 15 (37,5%) were stopped out before reaching any profit targets, 11 (27.5%) reached target 1 before falling to the SL, 4 (10%) reached target 2, 4 (10%) reached target 3 and 6 (15%) reached target 4.
So you may conclude that their accuracy was 62.5% (the signals that didn't get stopped out) but you also have to keep in mind that targets are often modest and stop losses large, meaning the risk/reward ratio is terrible and even if you reach target 1 or 2, if you later get stopped out the overall result could be a loss. In my experience, losses were big and wins are mostly small, with there being a run of 11 trades in a row that had an overall negative result.
In their introductory guide, they encourage you to not always put a stop loss because prices may go down then come up again. Well, that's generally true in a bull market but not putting a stop loss definitely isn't good practice. If they send a buy signal then the price falls 20% before eventually (perhaps weeks later) rising above the entry point again, this must be considered a failed trade, even if you decide to hang on to it and wait for it to recover.
The main problem that I have is their dishonesty. They don't show their trades and their outcomes for a reason. There are other signals groups don't claim such high accuracy but they are at least believable because they are transparent and show records of their trades with their outcomes. Choose one of them instead.
Next, don't expect to learn anything. Their signals come with no justification or technical analysis so you don't have any basis on which to base a decision to enter a trade or not. If you are able to analyse completely on your own whether to enter the trade or not, then you don't need a signals group like this anyway. The only communication you receive is buy signals and when targets are achieved. If the market is crashing (and all the trades are turning into losses), you won't get any warning or explanation. The stop losses also seem to be generated quite randomly, not below any support level or with any other technical justification, but rather a round % below the entry (in my experience the stop losses were often around 8%).
Needless to say, I don't think they can justify their high prices. I foolishly assumed that the expense, combined with their accuracy rates, would guarantee higher quality but I was wrong. I was also persuaded by all the positive reviews on TrustPilot but I suspect they're mostly fake. It's at least suspicious that nobody mentions the problems that were so obvious to me ot goes into a convincing amount of detail. I've also noticed that all their reviews have come in the last few months, despite them claiming to have been in operation for years.
Considering the absolute lack of technical analysis or any other evidence behind their signals, I wonder if the success of some of their signals is due to luck. During a bull market when prices are generally increasing, you can probably choose any decent coin which has been performing well recently, use a large stop loss (or none), have a modest target and more often than not you will probably be "successful".
***EDIT IN RESPONSE TO SIGNAL BLUE'S COMMENTS***
I have shared details with Trust Pilot of my subsription and they have verified that I was a genuine customer. I don't work for any competitor and even if I did it wouldn't make a difference to my arguments because they are all based on evidence, not just badmouthing. Lastly, my suscription didn't run exactly from Sep 1st to the 30th, hence the discrepancy with the number of signals.
It is possible that the team behind Signals Blue had better results that month than I did, but I was following their own signals. If they had better ideas than the minimal information in their signals, then why don't they communicate it? A person pays for a signals service because they want to be fully guided, not given just a litle tip and then left to themselves.
Signals Blue, I'm not trying to destroy your company but I believe you should make some changes:
- Share records of your monthly results in order to back up your claims of accuracy. Your business will only survive beyond the short-term if people feel they can trust you.
- Keep in mind that a signals service is aimed at beginners so communicate more and give better guidance.
- With the above changes and an impressive level of accuracy, your high price might be justified. Otherwise, it’s not.
