The present study explores accuracy in estimating blood glucose levels (BGL) in children with type 1 diabetes and analyzes the kinds of symptoms and cues which they use to estimate their BGL. Forty two children with type 1 diabetes completed a SI/IC-3 scale consisting of 28 items (22 symptoms and 6 feelings), indicating those which they perceived at the time and their intensity. They estimated their BGL and gave reasons for their estimation, before having a blood glucose level analysis performed. The results indicated great variability in the accuracy of estimating BGL. They showed failures in the correct discrimination of symptoms of hypoglycemia as well as the presence of false beliefs regarding indicative symptoms of hyperglycemia, and the absence of symptoms as an indicator for euglycemia, beliefs which provoke different and frequent errors in the estimation of BGL. Correct use of external signs is shown to be related to correct estimations of normal BGL, as well as hypoglycemia and hyperglycemia. We discuss the implications these results could have on designing psychological intervention procedures for diabetics in the form of training programs to discriminate BGL accurately, taking into account these findings and previous studies completed in the same field.