I feel like the general response to that statement should be, "Duh," but will probably get some rebuttal. I said what I said, and no - you're not going to change my mind.
Here Are the Reasons Why (It's a Short List, Promise):
Number One - More Often Than Not, They're Scams
Pretty self-explanatory. However, the insidious nature of it comes from people who make their money taking yours and just throwing out some numbers. They likely don't make their money actually trading the markets, they rely on people who also don't know how to trade.
Number Two - If You Knew How to Profitably Trade, You Wouldn't Need a Signal Group
It really is that simple. If you are joined to a paid signal group, how often is it that the person providing those signals are actually teaching you how they arrived to those conclusions? They're not likely to do so, and they probably just won't. And if you knew how to get into profitable positions, you wouldn't need to be looking for candy from strangers.
If you found yourself in such group, did you ever ask how those signals were generated? Did you ever think that this is just something that you could do for yourself? You actually can. There is a wealth of information on the internet available. Thus presenting the same conundrum - how do you know if what you are learning is any good? (Hint - If you are wasting your time on low volume markets and use lagging "momentum" indicators: RSI, MACD, etc., you didn't learn from pros. Sorry, just how it works.)
Trading crypto can be a little overwhelming, especially if you do not have any experience trading on traditional markets. Some people really love their alt coins and like to shop around for projects worth their salt. Others, like me - ditched alts and altogether and solely focus on derivatives. (Derivatives - not margined coin trading, there is a difference.) The good news is that amongst the rubble and rubbish of the internet, there are some good pockets of solid information exchange and support.
Yeah, you read that correct. Good exists!
When I first got started with my trading journey - I saw the potential with Signal and Pump groups, and was quickly disappointed.
It was through random happenstance that I came upon a Discord server that changed the trajectory of everything. I got to learn from a seasoned professional trader, for free. Yes, for free.
Yes. Free. (It bears repeating...did I mention this education is offered for free?) His strategy and method are so effective that the free education will make you profitable. It is so simple and effective that I now work on the Server as a coach here to help pass on what I am learning and have learned to folks who want to do the same.
If you like fucking around with alts, can't fault you! Everyone has different goals and likes a different approach, I just know what works for me and see the kind of results in the group. In one month's time we went from a small group of around 200 people from around the world to ~2500. We see traders who successfully implement the strategy gaining 1-4% on their accounts daily. (2% increase on your account balance a day gets you to double your account in about a month.)