Your Telegram channel will be credible when you are trusted by your audience to deliver on the channel objective. In an insight business, credibility is everything. If your audience doesn’t believe you can deliver what you’re promising, they’ll see little value and move on.
In trading, your subscribers should not be expecting signals that win every time – financial markets simply don’t work like this. The channels we’ve seen that profess to being able to do this don’t have much engagement.
To gain credibility when offering trading signals, the signal itself needs to be precise, easy to follow and accurately tracked/reported.
We find that on average, the signals don’t have to win for a channel to be credible. In fact, having losing signals, so long as they aren’t hidden and are explained, adds to a provider’s credibility. A channel that promises high success rates that ultimately doesn’t deliver, will end up having much higher churn rates and lower ERR.
The signalDP platform tracks each signal through its full lifecycle against third party market prices, and provides a Profit and Loss summary in points. A public reporting page is provided that details signal performance that can be shared with an audience. These all seriously boost credibility.
In addition to signal messages, a signal provider can build credibility by being transparent and honest. If you’re having a bad trading day, share it. Well established providers also have a library of resources they share with their client base. Free courses, pdfs, trading aids like spreadsheets and calculators. However, try not to push your resources out of context, because it is likely to negatively impact your ERR.
The signs of a credible channel
- Clear signals.
- Reporting on the full lifecycle of every signal.
- Third-party pricing used to measure signals.
- Fake channels copying it. There isn’t much you can do about people impersonating you and copying your content. However, you can report fake channels to Telegram, call them out to your subscribers and be sure to really protect your signup process.
Tips for making your signals channel credible:
- Don’t make promises you can’t keep about signal performance.
- Don’t shout too loudly if you have a winning signal – it makes you look like it doesn’t happen often.
- Be transparent – if you have a losing trade, talk about it.
- Use a third-party market price to benchmark your signal performance.
- When providing signals, never miss a trigger or a completed trade.
- Report on performance regularly, and be accurate.
- Make sure all your partners are credible.
- Actually trade the signals yourself using your own capital and offer proof of this to your audience – if you don’t, why should your subscribers?
- Don’t delete old messages to make yourself look better (someone will see this).