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Due to their popularity on Tradingview, a review about the Crypto Signals by Alan Masters has been requested quite a few times, so we figured it is time to provide one about these guys. They are pretty long in business and always appeared legit to us, but – of course – we need a deep dive into their work before we can recommend them to our readers. For the group of Alan Masters, we started a small experiment: We decided to take the community opinion into consideration and added an additional hurdle: we audited the new prospect still ourselves, though they had to grant a free membership to one reader of our Telegram channel, which we randomly selected. This member will provide a “community review” added to ours a bit later and only if he vouches for the channel, we might consider it to add them to the Bitmex Signals post and issue our seal. But now, back to the Alan Masters BitMEX channel and what we have observed there. I was eyeing Alan Masters for quite some time for a review but it just never happened that we got in contact. Every time I am checking for cryptos on Tradingview I come across their account and I find a pretty valid analysis.
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. However, we don’t want to let these stats bedazzle our clear view on the group. Alan Masters hosts quite a few services under their roof, besides the regular altcoin signals and forex signals (just started) they now also offer BitMEX signals with a superb hit rate. Our loyal reader Shaan is currently trading their signals and will provide a full customer report after a month (we will update you on that), where he will present his full insights. Traditionally Alan Master has his base in Altcoin signals but has proven to be very successful with leveraged BitMEX signals as well. In this review, I am checking mainly this one.
Signals Review: Alan Masters posted one signal per day max in our test period. We mainly checked for the BitMEX telegram channel. They offer trades to enter right away, but also conditional trades (called future trades at Alan Masters), 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 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 Alan Masters. On the other hand, we saw our position often in the red for a while, to hit the first target later after some time. However, trades with a risk-reward ratio of 3:1, should be avoided if one has proper risk management in mind. The signals come with calculated profit potential, stop-loss, estimated liquidation price, and capital allocation. 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). Alan Masters’ hit rate was impressive – I am currently waiting for more recent historical data, but November has crossed the 90% mark. In the last month stop loss has reached only one time.
And here is how it played out on the charts:
The Results: The results of the Alan Masters 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 Alan Masters Bitmex signals. All in all, good signals with risk management issues.
Support: Shaggad was very helpful and responsive. We never had to wait for more than an hour to receive a reply.
We are waiting for the user-contributed review who traded most of the signals on his private account. We will post the user review once we get it.