Shaggad BitMEX SignalsStarting at 0.05 BTC
Shaggad’s BitMEX Signals Review
+++ High Risk High Reward Signals+++
~ Great Hit Rate – but also risky ~
This is an updated review of the former Alan Master Bitmex Group review. The responsible trader of AM’s channel has split from the group and trades now on his own, hence we felt like updating it a bit. If you scroll deeper, you will also find a community review, which has been made by one of our Telegram channel readers. By the way: you really should hop into our TG channel if you haven’t done so already, as we will often search for community reviewers, who get free access for some time.
I never heard of Shaggad’s service before, the reason might be that he traded under the hood of Alan Masters, which is a well-known trader on Tradingview. Well, I think that is that kind of reputation one can really be proud of. The account is the 5th Top Author of all Times on Tradingview and comes with an impressive 8.3 million post views and with the second biggest amount of followers on the whole Tradingview platform, but we shouldn’t be bedazzled about that. As he clearly hired Shaggad for the BitMEX channel. Traditionally Alan Master has his base in Altcoin signals but with Shaggad’s calls, the group has proven to be very successful with leveraged BitMEX signals as well. Now Shaggad is on his own and in this review, we will check only this channel and not Alan Masters.
Crypto Signals Review:
Shaggad posted one signal per day max in our test period in the BitMEX telegram channel. he offered trades to be entered right away, but also conditional trades (called future trades in this channel), so you have a good amount of time to prepare the trade. These trades are designed to become active once certain price conditions have been met. Generally, the entry is given in ranges, as like most of the channels do to get an average entry price. This comes with the disadvantage that sometimes your allocated funds for the trade won’t be used entirely. However, this might be even helpful for people with a bad money management attitude not to enter with exaggerated positions.
The signals come with calculated profit potential, stop-loss, estimated liquidation price, and capital allocation. Alan Masters’ hit rate was impressive – I am currently waiting for more recent historical data, but November has crossed the 90% mark. In January, stop loss has reached only one time.
Shaggad offer’s an Auto Trader solution. The auto trader is custom (not Cornix) and seems to work pretty well, so his customers can reap the profits hands-free.
And here is how it played out on the charts:
The Signal Results
The results of Shaggad’s signals channel have been overly positive. Considering the distance to the set targets, we consider it the Alan Masters Bitmext trades as scalp trades. The average of achieved profits has been ~35%, but of course, there were pretty nice profits above 100% as well. For example when they played the rise of TRX, due to the conference fundamentals. We did not like the Risk:Reward ratio and the used amount of leverage and set our own. We have to admit, that this affected our personal hit rate negatively as we got stopped out sometimes before reaching the targets.
In terms of achieving the targets, their stop-loss would have been helpful and shows that it makes sense if you go with their signals. On the other hand, it shows that they are not very precise with their entries, even if the loose stops contribute to their hit rate. In a whole month, stop loss has reached only one time, which theoretically reduces the increased risk of the bad risk:reward ratios, but we have to keep in mind that every trader can have a series of losers. The leverage can be adjusted on our own, the stop-loss is more difficult, so this remains our main concern with Shaggad’s Bitmex signals.
Well, this one is so hard to judge: Basically, you sacrifice your risk management in order for an outstanding hit rate. His results sheets really show win after win, however, trades with a risk-reward ratio of 3:1, should be avoided if one has proper risk management in mind. The used leverage was most often too high for our taste. The expensive altcoin futures have been often traded with 10x (our max is 5x) and Bitcoin has been traded with 25x leverage (our max is 10x).
The Risk:Reward ratios which have been observed are not very reasonable, to be honest, and, leaving the good success rate besides, is my biggest concern with Shaggad. On the other hand, we saw our position often in the red for a while, to hit the first target later after some time.
After all, Shaggad’s hit rate was impressive and the loose stop-loss seem to be a cure for the stop-hunts which we see everywhere recently. The questions is, how will you handle the big losses if a stop is hit one time?
Shaggad was very helpful and responsive. We never had to wait for more than an hour to receive a reply. Meanwhile, he started a chat group for his premium customers.
Shaggad’s Signals are a very good solution if you are searching for BitMEX signals that offer high accuracy and if it doesn’t break your mind to be deep in the red for some time. Very good money management is needed here as he doesn’t use a good Risk:Reward Ratio. On the other hand, the success rate is with him on this, and he is most often not affected by stop hunts. However, you have to be brave to hold his suggestions sometimes. It is definitely not the right service for all-in-people, but a good one for those that know how to calculate a proper position size for the trades. The support he gives is very personal and fast (does he ever sleep?). The questions before signing up are if you are you strong enough to hold a red position for some time and if you know how much to use for each trade so you don’t get rekt over time.
All in all, very very good signals with risk management issues.
The Customer Review
Our reader Shaan has been added to Shaggad’s BitMEX signal group. Here is his review about the VIP channel – Passing the mic to Shaan now, enjoy his work!
I’ll start off by clarifying how I used the group, as this is key to understand how you can use it to dictate your trading style. Since I am more of a conservative trader, with a focus on preserving capital, I used lower leverage for some trades and tighter stop losses where I saw fit.
“We value a high win rate over anything and we wait for trades to come to us before doing anything” – Shaggad
As you can see there is no ambiguity in the signals they provide. This is a huge plus as especially if you are following a third party strategy any confusion can give way to losses. My only qualm is the lack of explanation underlying their trades. If you are a beginner looking for a group that will allow you to eventually become self-sufficient then Shaggad’sBitMEX Channel falls slightly short. However, If you are seeking a group that doesn’t require any effort on your behalf, then Shaggad’s channel is the right place for you. My only issue with their trades is that sometimes their risk/reward can be a bit skewed, risking a significant amount for the potential gain. Nevertheless, this is a matter of opinion and is justified by their hit rate.
My journal from Shaggad’s signals
I’ve kept a record of all the signals I’ve used from Shaggad, with the parameters that I used. Please bear in mind as aforementioned that I did not follow each trade to the letter due to my personal trading style and as such this isn’t fully representative of the group. The second to last call relates to my point about loose stop losses, especially as retail traders it isn’t possible to constantly monitor your trades and in this case, it had a big effect on my P/L. And in comparison the advertised P/L
The Pros and Cons
|- Clearly defined set of rules underlining each trade (Targets, Capital Allocation, Estimates ROE and Timeframes)||- Signals can be few and far between and as a result can miss signals due to inconvenient timing relative to your time zone (see signals I took [GMT] VS the signals provided on their sheet)|
|- Good strategy, often laddering buy ins and take profits||- Poor risk/reward for some trades|
|- Incredible hit rate even in a bear market (often the sign of a strong group)|
|- Don’t flood users with unprofitable trades like many other signal groups|
|- Don’t over leverage trades relative to account size (Good incorporation of portfolio conservation)|
Shaggad's BitMEX Signals