Online Trading Academy
- Thread starter jonkry
- Start date
So did you end up taking the course?
just my 2 cents .... and not challenging anybody's rec or opinion
I've never taken their course (or anybody else's) - I get their instructor's articles weekly email bulletin. The only instructor at OTA that IMHO has something semi-valuable to show/teach is Sam Seiden and he has written many, many articles and they are available free thru' OTA archives.
I would recommend you save your money and learn on your own.
Goodluck
I'm amazed how this whole "educational" segment has developed. Back when I started in the 1980s - it was basically newsletters, and sleaze dream merchants like Jake Bernstein and Larry Williams. You were pretty much on your own w/ worthless TA books and the other BS that was heavily marketed by an unscrupulous industry. Futures magazine was their leading promotion rag.
The gurus along the way changed their pitch -- fr. being so called " great traders" to "educators". It appears that the younger people that want to give trading a try, are demanding these services. Otherwise they wouldn't be springing up all over the place. That OTA is even selling franchises. Give me a break!!
The gurus along the way changed their pitch -- fr. being so called " great traders" to "educators". It appears that the younger people that want to give trading a try, are demanding these services. Otherwise they wouldn't be springing up all over the place. That OTA is even selling franchises. Give me a break!!
So did you end up taking the course?
just my 2 cents .... and not challenging anybody's rec or opinion
I've never taken their course (or anybody else's) - I get their instructor's articles weekly email bulletin. The only instructor at OTA that IMHO has something semi-valuable to show/teach is Sam Seiden and he has written many, many articles and they are available free thru' OTA archives.
I would recommend you save your money and learn on your own.
Goodluck
I did take the course, and for me I believe it was worth it. I'm making some money now - although not yet where I want to be. But I believe I'm getting there months, maybe longer, before I otherwise would have been. So the acceleration in my learning cycle was worth it to me.
At the same time I recognize that worth is a relative term and depends one ones goal, time frame, and resources. While it was worth it to me it might not be for everyone.
Note that for the most part OTA is about learning the basics, and doesn't teach a specific strategy as some schools do. While you are exposed to some strategies that isn't their general goal. You won't walk out of there with a rule based trading plan that you get from them. It will be up to you to develop one based on what you've learned, or learn with the tools they provide.
Since completing their basic 7 day course, I've since been in their XLT program which is ongoing. Which I also believe has been worthwhile to me.
I've run into a handful of similar students some of which think the program has been great for them, and some of which are not so certain.
Ultimately not everyone will succeed at trading no mater how,and how much, they study.
These classes must be like refried beans.... so bad the first time you have to re-fry them! LOL Re-takes? Are you serious? Do they give you the money you lost in the market back as a do-over? Why re-enforce the same crappy info that caused you to lose in the first place?
And the amount of money that this thing costs is absurd.
While I have never paid for a trading class on-line, I did end up taking one.
My mother-in-law had signed up for some king of investing class on-line for like $100. She told me that when the class was over they offered her a "free currency trading course." She had no interest and said I could use it if I wanted.
So I went in and figured I would screw around with these guys and blow them out of the water, but to my surprise, they were pretty knowledgable.
Now the info in the course was pretty basic stuff for anyone who's been trading for a while, but they had 24-hour instructor access where you could ask any questions you wanted.
So I started just asking their opinion about different trades. And from this I was actually able to see things a little differently than what I was doing before. Made some decent coin with these guys and actually saved me a few bucks (reminding me about new releases for my proposed trades).
Now that was a deal well-worth it. Not 6K and a bunch of retakes.
4EXJOE:
While you might not feel the class is worth it to you, why do you think it is worthless. You already admit to taking one class you thought was worthless and found out it was worthwhile.
No offense as everyone is entitled to their own opinions, but it seems like all of the negative comments about OTA are from those that have not taken the class and not from those that did take it. if you haven't taken it then how would you know for sure?
The idea of retakes: OTA markets to a broad spectrum of students. Some don't even know what active trading is or nor the definition of support and resistance or even what a candle chart is. Some are much more knowledgeable. For some so much is thrown at them so fast that they can't get it all in one class and for them a retake is beneficial. Also, OTA uses a lot of different instructors with different techniques. While they cover the same core all add a lot of their own history and knowledge. So taking the class again with a different instructor could be very beneficial. I'd like to do it but haven't been willing to commit another week at this point, I might in a few months.
Make no mistake - like any other company OTA is all about making themselves money, That is their first priority. But like other companies they do it by providing value to their customers and the fact that they have been around for quite a few years speaks to their success on both ends.
While you might not feel the class is worth it to you, why do you think it is worthless. You already admit to taking one class you thought was worthless and found out it was worthwhile.
No offense as everyone is entitled to their own opinions, but it seems like all of the negative comments about OTA are from those that have not taken the class and not from those that did take it. if you haven't taken it then how would you know for sure?
The idea of retakes: OTA markets to a broad spectrum of students. Some don't even know what active trading is or nor the definition of support and resistance or even what a candle chart is. Some are much more knowledgeable. For some so much is thrown at them so fast that they can't get it all in one class and for them a retake is beneficial. Also, OTA uses a lot of different instructors with different techniques. While they cover the same core all add a lot of their own history and knowledge. So taking the class again with a different instructor could be very beneficial. I'd like to do it but haven't been willing to commit another week at this point, I might in a few months.
Make no mistake - like any other company OTA is all about making themselves money, That is their first priority. But like other companies they do it by providing value to their customers and the fact that they have been around for quite a few years speaks to their success on both ends.
Dear OTA Shill,
Thank you for your response. The problem that you and your ilk are running into is one of value. In my example, the cost was FREE to me. Had I paid for it instead of my MIL, it would have cost me $100.
Therefore, I save $5900. The problem with all of these courses, gurus, newsletters, shills, etc. is that the most important thing about learning to trade is something that can't be taught.
It's called screen-time. You have to spend real-time watching the market to be able to identify opportunities and re-enforce them. While its nice to be shown a bunch of patterns or whatever else they do at OTA, it certainly isn't worth $6K.
The problem most people find is that they are undercapitalized or blow their accounts too early-- probably because they spent 6K on your courses! Thus they can't afford to stay in the market.
So yes while I was surprised by the course I took, I call that an extreme value. I highly doubt you're teaching anything different from this course but charge 6K to support all of your advertising and aggressive salespeople going for the up-
sell.
Now I realize you're just a naive kid doing your job (patrolling the internet for people talking badly about OTA), but tell your bosses that instead of paying for all the BS, lower the cost to present value.
That is all.
I agree with you on that one - if the $6K makes enough difference to someone that they risk being under capitalized because of it then they have no business spending that much on a course.
With that said, I am no shill. Why do I take the time to post here? Because when I was deciding to take the course I found it difficult to find other's opinion of it - especially the lack of opinions from those who have actually taken it.
What am I? I am a former executive who is a victim of the economy in more ways than one. I have lots of dough, but not all I need to retire with and not many options for re-entering the workforce at a level that makes sense. At the same time I was burned enough by investment professionals who never think it is time to pull out of the market so I now trust no one but myself to actively manage my nest egg - an approach I wish I took 10 years ago. I learned a bit about active trading while researching risk management.
Now I've decided to give active trading a real hard try as a way to both grow the egg, and provide daily income. And my nest egg is large enough that if, ultimately, the cash for OTA's course gets me a month ahead on the learning curve then it is worth it to me.
Not everyone will be in that position and some only have enough to put in a trading account that the fee will, at best, take many months to recover, and at worst will wipe them out before they even start. This group is better served by figuring things out on their own in their spare time and to get a job to earn a paycheck for their day job.
check freetradingvideos.com they have an online program that is very afordable, besides by watching their videos you can learn tecnical analiys
Do they teach spelling?