hey David Jaffee here with beststockstrategy.com and in this
video we're going to do a review of my strategic forecast
with David Frost
so i've spent the last hour reviewing a lot of his videos and i think that this
type of person is incredibly dangerous and the reason is that
he's a very good speaker he speaks incredibly well
he has his own terminology and lingo about certain things like pie in the
face and i don't know just all this like
weird terminology the reason why i think that this person
is dangerous and remember everything i say in this video is my opinion
so you're welcome to completely disregard it and join david frost and
learn from mystrategicforecast but in my opinion the reason why this
stuff is extremely dangerous is that we all know that technical analysis and
day trading doesn't work so it's been proving and proven in
numerous scientific studies that day trading is not work
they've looked at about 400 000 day traders and about 99.8 percent of them
lose money on average about 13 a year in fact
a recent study indicated that the actual results were actually worse
than the than the expected results primarily because
the people who conducted the interviews were or rather the people who conducted
the studies were unable to take into account some of the other factors
and the research indicated that the point two percent of the people who
made money by day trading earned less than minimum
wage so pretty much the summation of the research studies is
that day trading you're virtually guaranteed to fail and make money
the reason why as i mentioned earlier i believe that this is dangerous
is that this guy david frost with mystrategicforecast
gives off such a he gives off such authority when he
speaks he's an incredibly good speaker and he uses these words and these
terminologies similar to lawyers and doctors where it makes you
elevate him and put him on a pedestal and in my opinion this is incredibly
dangerous because i do not believe that this person
is a successful and profitable trader i mean he encourages you to use technical
analysis which in my opinion doesn't work
no large investment bank uses technical analysis
all the major investment banks the only way that they make money
is or actually let me take that back because i don't want to use absolutes
here but the major investment banks their
primary method of profiting in trading activity
is by acting as market makers and being transactional traders where they
essentially profit and they take a hundredth of a cent for
each share or each transaction that is actually processed so they
match up the bid those who want to buy and those who want to sell and they
profit off the bid ask spread differential
so this is riskless profits because they're essentially
gatekeepers or or they're operating in toll booth
where they're profiting off of each transaction for this person
David Frost from mystrategicforecast he's essentially
giving off an appearance of credibility he's using terminology
he's very confident when he speaks but he's encouraging you to day trade and
he's also encouraging you to use technical analysis here's one of
his videos hey july 30 2020 we're looking at a
daily chart of the spy or spider which is the proxy for the s
p 500 what do we have on the docket today there's a lot of stuff going on
we had a nice big gap down this morning we had another one of those by the dip
crowd slash reversals finishing near the highs of the day we
also had some of the big boys reporting earnings after the bell
we had facebook amazon google and we might as well look at apple in
real time as they're about to report their notes
late what do we have on the docket for
tomorrow tomorrow's friday all about some stuff we're not finished
over there let's go through some of the commentary
and then we'll go back so early in the day we had a beat on
what was going on we knew 322 so look where the opening print was
321.90 right underneath 322 and if you read the notes what you saw
is if the market opens above or below 322
that's going to tell a tale below was weaker
they try to rally back up they fail what do they do
they make a b line for 320. they came up short of the gap
but traders understand maybe i should phrase it this way
traders should understand that if you have a position
in this case let's just say you're shorting around 322.
so we take a short position we want to ride it down to the big fat
that would be a bear fumble it pays to know this stuff
during the trading day in case a trader wanted to stay
short you know above 322 no dice you don't want
a pie in the face and here's one other thing back to the chart i talk about
this quite frequently i think it's worth
doing it all right so bear fumble pie in the face etc he's an
incredibly good speaker but in my opinion everyone who follows
him is going to end up losing money because in my opinion i also don't
believe that he's a profitable trader day traders lose money those who try to
use technical analysis are going to end up losing money
and if you want to follow this guy then no problem um
again he kind of gives me the persona or the impression that
his followers are going to elevate him and put him on a pedestal because he
gives a great impression he speaks incredibly well
and he just speaks with authority however the unfortunate situation is
that as a retail day trader you are virtually
guaranteed with almost 100 certainty to lose money this is not
my opinion this is scientific fact if you're going to use technical
analysis it is not going to improve your probability of profit in fact
you're probably just going to end up wasting your time and also losing your
money so in my opinion i highly recommend that
everyone does not follow mystrategicforecast
and that they run away from my strategic forecast
because not only are you probably going to end up losing your money by trading
the system and by day trading but you're also going to end up
wasting your time and becoming extremely discouraged
David Jaffe with beststockstrategy.com if you have any questions leave a
comment below let me know your thoughts below in the comment section i respond
to everyone's comments or at least i do my best to
and i hope you appreciate this review um you know do i think that this person is
as bad as some of the other fake gurus are on youtube
no i definitely don't i think that he gives a great impression
and i think that perhaps he might even have positive intent but at the same
time i believe that he actually trades profitably
no i definitely don't believe that and um yeah so i just wanted to
help people out and just let them know that day traders as a retail day
trader you should expect to lose money because
you're essentially walking into a casino and you're playing slots and you're
expecting to hit home runs and you're going to end up losing your money so if
you have any questions let me know i appreciate you watching and i hope
that this video has been helpful to you