David Jefferson's Technical Analysis System

This free strategy can be downloaded here the attachment below, please give your thoughts and reviews on this system. Pleas note : You have to be a member to download the free strategies, membership is 100% free and takes a few seconds to sign up.

Firstly, I'm not an expert in forex trading, although I do have more than a slight bit of work experience and qualifications with statistics, mathematics and computations (in particular large scale concurrent computations).

I've read this download and it doesn't seem too helpful. It's filled with jargon, misspellings (5+ instances of "crowed" instead of "crowd", for example) and is almost wholly composed of forum postings.

The one thing that this author seems to do is boast his riches (pictures of his porsche and references to vacations in France, etc are in the "manual"). To be honest, this is something I've only ever seen scammers do - show the mark how much money they have made using a method and offer to sell the method (of course, if the method is any good they won't be selling it at all).


The material is very close in structure to "how to win at gambling" type of books. The methods presented illustrate quite nicely how cherry-picking data to boost confirmation bias can help in showing how a "method" can work. In addition to confirmation bias, there were a few other logical fallacies in the material; appeal to authority, for example, is the first one the reader encounters on page one. Other fallacies I've noticed are arguments from repetition, affirming disjuncts and gamblers fallacy.

Finally, while the author seems up to date on all the jargon (which, as a beginner, I had to look up myself), he seems to have only a very shaky foundation of statistics and never brings up distribution and related theory (which I expected to find in this sort of material). However this might not be his fault - it might be that the majority of traders prefer to view a box-and-whisker plot rather than examining the first and second derivate values of a discrete function.

Anyway, my R0.2 worth. I'm still new to this, so perhaps I'm wrong about the material, but scams all have the same sort of structure and shape to them, and this author sounds the same as the network marketing folk do, and the same as the seller of slot-machine "methods do, and the same as those who tell you how to "predict" roulette numbers, and the same as the sellers of pyramid schemes, etc. Perhaps, in spite of sounding like a scammer, he isn't - I certainly wouldn't give him any money although reading the book is for free so you may as well.

Thank you for your review, I do agree that most scam trading systems are very "cheaply" written with the emphasis placed on what could be gained rather than the details of the system itself. If you enjoy analysing systems there are a few sites you may want to check out. You probably know these sites already but I'll list them anyway.

www.babypips.com
www.forexpeacearmy.com
www.donnaforex.com
www.forexfactory.com

While you are busy analysing sites/system take a look at this one, it is a bit different from the rest and for some reason I find myself going back to this site over and over. There is a 3 day trial so you can take a look at it and tell us what you think, they trade the first few hours of the US session.

www.forexsuccessfultraders.com