First Look at CoinMarketResearch Signal & Technical Analysis ServicesteemCreated with Sketch.

in #bitcoin6 years ago (edited)

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CoinMarketResearch is a paid research and signal service that provides regular short, medium, long-term trading calls and insights to it's modest sized audience. There are 3 options for membership, with various levels of benefits, including weekly signals only, all signals and all signals + ICO analysis.

CMR uses a "Blind Consensus" system to arrive at the signals, which means that their team of 3 technical analysts look at the charts without knowing which coin they're looking, and then compare notes. This blind-style of viewing charts helps to remove their individual biases for particular coin fundamentals. Then, if 2 or more out of the team draw a similar conclusion, they've come to a consensus and will publish the signal.

The signal time frames are a little ambiguous, with short-term being anything from a few days to around a week, medium-term being within a month or two, and long-term being from anywhere up to 6 months hold.

For this review, I opted to try out the mid-level membership option which set me back around $200 USD for 1 month. Normally I'd say that's expensive, but if it's providing what it promises, that fee will easily pay for itself. So far I've enjoyed the signals, but since I've only been subscribed for 2 weeks, I'll leave the discussion on the quality of the signals for a more in-depth review later.

After you've paid your fee, (many cryptocurrencies accepted), you get access to all the analysis. Here's what the inside members section looks like:
CoinMarketResearchInside.png

Pros

The first things that stood out with CMR is that it's not a pump and dump group that seeks to take advantage of the little guy by getting them to "hold the bag" on low-volume, small-cap cryptos. In fact, the vast majority of signals so far have been in the top 100 coin market cap coins, and with the audience size of this group, the price doesn't move at all when the signal is announced. This is a good sign that they mean well!

The "Blind Consensus" idea is a great way to arrive at an unbiased analysis of the market movements and really love this aspect of their analysis because I can examine each of the 3 analysts conclusions and determine whether they fit my own trading style or whether I agree or disagree.

One of the biggest benefits of CMR is access to their discord community. It's filled with the administrators, analyst and a number of very helpful members that answer questions, help with analysis and provide access to a number of educational resources.

Cons

As it's a relatively new service, there are a number of things that can be improved upon. Firstly, with all the tips so far there hasn't been a "target" aka a "sell" price. This means that while the price may go up, inexperienced traders may not know where to sell and thus end up losing on potential gains by selling too early, or possibly miss out all together by being too greedy. It would be a great improvement to include between 1-3 "target" prices that would indicate good selling points.

Secondly, as previously mentioned, there are 3 types of tips; short, medium, and long term but there's also weekly tips and it's a bit confusing whether they're separate or the same as the other tips.

Lastly, if I want to recommend people to sign up, there's a lack of information regarding the amount of views or referrals. If the CMR team want to encourage referrals, they should probably provide some insights for their affiliates.

Overall

The jury is still out on the quality of the tips, (it's too early to know) however the service has been a great experience for me so far. If you're looking for some great technical analysis and have a spare $100-$200 - I'd recommend giving these guys a go!

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You know - I never thought of the 'blind style' approach to reading the charts! Recently I've been reflecting on why I am such a stubborn bastard HODLing coins that I acknowledge are going down... then they go down and I wonder wtf was I thinking? And yet, other markets that were making a similar pattern were a no-brainer for me to sell out of...

That is a really great tip. I will think about that all day!

Yeah it's simple, but excellent idea. Maybe we could prepare a few blind charts for each other to study!

Great review, CMR is an awesome service and a community, join their discord here: https://discordapp.com/invite/ddgFQC8

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