My Strategic Forecast Review – Scam Or Legit?

My Strategic Forecast is a day trading brand that sell various courses and chatroom access.

If you're here I'm guessing it's because you want to know if My Strategic Forecast is a scam or not.

You'll get an answer to this question in this review.

Additionally, you'll see any red flags I find about this service and additional insights you won't find anywhere else.

You'll know if My Strategic Forecast is worth it by the time you're done reading.

Let's get started!

Day Trading Is For Suckers

For some reason day trading has really exploded in popularity in these last few years.

I blame the pandemic and people being stuck home and wanting to try something new.

And I get why day trading may seem appealing.

There's promises of big and fast money - who doesn't want that?

But I'm telling you right now that day trading is a completely bogus way to invest and basically works for no one.

Studies that have followed hundreds of thousands of day traders have concluded less than 1% of day traders can make more than minimum wage.

There's many reasons for this and here are the top reasons:

Guessing A Stock's Short Term Movement Is Impossible

The first thing you need to understand is that there's a million different factors that determine a stock's price movement.

And a lot of it is illogical and can't possibly be accounted for.

So to say someone can develop a system that allows them to regularly guess where a stock's price is going to be in a few hours is ridiculous.

It's hard enough predicting where a stock will be a in few years!

Even if you get half of your predictions right you'll still lose money.

Which leads me to the next point.

Day Trading Fees Make It Impossible To Profit

Let's say you can somehow beat the odds and manage to trade more winners than losers.

Guess what?

You're still going to lose money!

Every trade you make is going to come with fees.

And every day trade can cost up to $100 to make.

On top of this you're going to have to pay 28% in taxes on all short term trades (compare that to 15% on long term gains).

And to top it off you'll need to pay for various chatrooms, tools and training.

The chatroom at My Strategic Forecast is a hefty $299 per month.

Day trading is already a coin flip but all these fees means you're paying to flip a coin.

Even if you win you still lose money.

Technical Analysis Won't Help You At All

What My Strategic Forecast is offering is training on technical analysis.

Technical analysis is the idea that stocks follow predictable patterns and if you can recognize a pattern that a stock is following you can guess where the price is going.

This is an example of what a technical analysis chart looks like:

The problem is technical analysis doesn't work.

The short term price movement of a stock tells you nothing and the idea this chart means anything is a joke.

And it's not just me that thinks this.

No legitimate investor uses this stuff.

You won't find Wall Street investors or billionaires investing this way.

Don't believe me?

Here's what Warren Buffet has to say about technical analysis:

What Buffet is saying technical analysis tells you nothing about where the stock is going.

The chart can tell you whatever you want it to.

So nothing My Strategic Forecast offers will change your odds of making money with day trading (less than 1%).

Recommended: The Best Place To Get Stock Picks

Here's What You Get

There's various offers at My Strategic Forecast.

Here's an overview of everything they sell:

Inside The Numbers ($129 Per Month)

The first offer is Inside The Numbers and this is the main service they sell.

The theme of Insider The Numbers is known as "The 6 Pillars Opportunity."

With this service you get:

Pre Market Commentary

Before the market opens up you'll get some insights on the market and you'll start looking at potential set ups for your trades.

Stocks On The Move

This is a watchlist of stocks that are following trends that day traders look for.

Quick Trades

Quick trades uses a strategy known as gap trading.

Basically gap trading is when a stock opens at a different price than what it closed the previous day without any trading activity happening.

A gap trader looks at the price movement for the first hour the markets open and then either buys or shorts the stock based on the price movement.

Support And Resistance Numbers

With this subscription you'll also get a look at support and resistance indicators for certain stocks.

These supposedly tell you where a stock's price is moving and looks like the following:

IntraDay Opportunities 

If a trade looks promising the folks at My Strategic Forecast will let you know about them.

Gap Fill Opportunities

This will be a master list of gap trading opportunities throughout the day.

Inside The Numbers Live ($299 Per Month)

This is just a day trading chatroom where you can trade along side David Frost.

It's very pricey, though, and will cost $299 per month.

Here's the thing..

It's a generally accepted rule that you should never spend more than 1% of your trading account on research.

And this chatroom counts as that.

So for this chatroom to make sense financially you'd need a trading account of over $350,000.

Anything less than that the cost of the chatroom will eat into any gains you get.

So don't even think about this service unless your account is over $350,000.

Lazy Gap Trader Master Class ($199)

This is training course that teaches you about gap trading.

Again, gap trading is when the opening price of a stock is different than what it closed at.

In this course you'll get 21 lessons on gap trading.

This includes planning your trades, coming up with prices and more.

Lazy Emini Trader Master Class ($347)

This is a shorter day trading course that's only 5 hours long.

It's more general and doesn't focus on a particular strategy.

Instead it gives you the basics of day trading.

You'll learn about the market, how technical analysis works and things like that.

Lazy Swing Trader ($1,297 Per Year)

This is a stock picking service that focuses on swing trading.

Swing trading is another short term investing strategy that's flawed.

Instead of buying and selling stocks in a day, you'll be buying them and then selling them over a few day or weeks.

You'll still be using technical analysis for this strategy.

This is a pricey service and you can only buy a quarterly subscription ($399) or a yearly plan for $1,297.

My Strategic Forecast FAQ's

Still have some questions about My Strategic Forecast?

Here's answers to any remaining questions you might have:

1) Is David Frost Legit?

I personally don't think any day trader could be considered legit.

Basically no one succeeds day trading and those that do make very little.

It would be like saying someone was a legit astrologist or something silly like that.

But honestly there's not too much out there about David Frost.

This is all that is listed on Frost's Linkedin page:

Frost claims to have a Bachelor's degree but doesn't name the college where he earned it from.

Instead he uses the term "The School Of Hard Knocks."

He also claims to have been an equity trader but doesn't name who the employer was.

Then in 2006 he started My Strategic Forecast and has been running that since.

So it's hard to tell if David has a legitimate background in investing or not because he's so scant on details.

2) Is There A Refund Policy?

Nope.

It's explicitly stated that there's no refunds:

I wouldn't buy an investing service that didn't come with a money back guarantee.

3) How Much Do I Need To Get Started?

Well there's a couple different ways to look at this.

First off, to legally day trade you need a trading account with $25,000 in it.

If you don't have that in your account you won't be able to make more than three trades per week.

And you want to make sure you don't go under $25,000 so you need $30,000 to trade with minimum.

Secondly, you need to use the 1% rule.

Just a refresher the 1% means you don't spend more than 1% of your trading account on research.

Insider The Numbers costs $129 per month so you'd need around $150,000 for this service to make sense.

Insider The Numbers Live costs $299 per month and you'd need around $350,000 for it to make sense.

Finally, the swing trading service costs $1297 per year so you'll need around $130,000 for it to work.

That's a lot of money and I'm guessing 99% of people interested in My Strategic Forecast don't have that much to trade with.

4) Is My Strategic Forecast For?

Nobody honestly.

I'll never recommend a day trading program because it doesn't work.

Your odds of making money are less than 1%.

And even if you make money it'll be very little after you subtract fees and research costs.

Long term investing pretty much guarantee 10% gains every year over a long period of time if you do it right.

It's a much safer, better and less stressful way to invest.

Recommended: The Best Place To Get Stock Picks

My Strategic Forecast Conclusion

That's the end of my review of My Strategic Forecast.

Listen.. there's one way to make money with day trading and that's selling day trading services.

There's an old saying "the best way to make money during a gold rush is to sell the shovel and bucket."

That's all that's going on here.

Day trading is inexplicitly gaining in popularity.

You might be thinking this must mean it's legit but it's just not.

There's many trends that are completely fraudulent but it's lucrative to sell services in these trends and as a result they grow.

Think things like astrology or certain kind of scam dieting programs.

That's all that's happening here.

David Frost makes the majority of his money selling day trading services and not day trading.

The odds of you making money is around 1%.

There's nothing at My Strategic Forecast that will change that.

Here's A Better Opportunity

I'd pass on anything My Strategic Forecast is selling and any other day trading services.

It's a falied investing strategy that's just going to lose you money.

The path to making money with stocks is long term investing.

This has proven time and time again to be the best way to do it.

I've reviewed over 100+ stock picking services..

To see my favorite (which is affordable and focuses on long term investing), click below: