Online Trading Academy

Quote from TraderZones:

OTA has just been lambasted in the March issue of Kiplingers magazine - along with pretty much every other hotel seminar course - TMTT, Investools, BetterTrades, etc. etc.
More...

+1 to this above. I attended an OTA event (mostly due to free lunch). It is a nauseating simplistic bath of TA 101 and Trading 101, in a wrapper of standard hype and pitch. ZERO PROOF OR PERFORMANCE HISTORY. They have salesmen there who are basically try to sign you up before you leave, preying on the uninformed.

They also have filled YouTube with a multitude of faked testimonials. The praise worshippers above are probably 1-2 employees paid to keep hitting places like ET with infomercials.
 
I would love to have the job of going after and shutting down operations like this.

I can't believe Jimmy Johnson is a pitch man for Better Trades either. I don't know if I called him out previously for being one of the bigger market douches around. He's up there with Lenny Dykstra.
 
Noticehow nobody who took their classes is complaining on this site?
That should say something in itself.


Regarding the 5k, if you trade with one of their sponsors you get this back as a commissions rebate of 20 percent per month for 100 percent of your tuition if you trade with one of their sponsors.

So, if you are long term in the trading game, there really is nothing to lose.

Like I said, if you cannot afford 5,000 you shouldn't be trading. Meaning you shouldn't be trading money you can't afford to lose. Scared money is lost money. Your friends who did not have success, I'd be willing to bet that they were trading scared money.


This is one of the things they teach there.

Like I said, if u cant afford it, you shouldn't do it.

I'd rather be in their club and have nobody join. They tell you things that I would rather them not promote. ( the truth behind wall street). But then again ,I wouldn't know about the other courses. They bash other courses cuz they can.


I don't know anyone who has success with others, nonetheless has a forumn on how "awful" the program is.

I want to know who is better, so please let me know.
If you are close minded you will never have success on your own.

Yes, they are a business trying to make money.but they havea very goodproduct that happens to cost a lot of money.

Dont bash what you dontknowfor yourself. Yes, the freeworkshop is a sales pitch. Of course itis. Theyhave a business.


But -The testimonials are real' and nobody knows of anything cheaper or better. And everyone who takes their course says it is the best , so why dispute it if u have nothing better?
 
Traderzones-- you are a prick...bottom line.

You have zero credibility coming on this thread and claiming foul with OTA, when you have never attended a course there in your life.

I bet you tell people you know what terrible cars they drive, having never driven that particular model yourself, don't you?

Amen to tony who posted... as a matter of fact I believe I have seen him in on the Hour with the Pro webinars recently...

Call us both shills... certainly there is no other explanation for our posting a postive comment about OTA, is there?
 
Just discovered this thread and thought I would throw in my 2 cents. Before there was OTA there was Momentum Securities and before that Block Trading in Irvine, CA, all owned by the same owner. I took their course for $5,000 in early 1998. In those days you traded live your own account ($20 commission each way with rebates until $5,000 was exhausted). I left after one year and losing $25,000. While I don't fault OTA, I do fault the perception that you can be successful in short period of time. I figured that the drop out rate was about 90% over the year

I never looked at daytrading again for 10 years, but started again in 2008 when I retired. It is very difficult. I look at the market 6hrs/day every day and after two years am only starting to see daylight. I use Scottrade as there is no pressure to trade.
I trade infrequently but observe constantly in multiple time frames and technical analysis with triple leveraged etf's (Direxion). I am starting to see more patterns than I did two years ago, but it is still very difficult.

OTA's training from 12 years ago was just dangerous enough for me to lose $25,000. Everything I have learned in the last two years was from sheer dedication and hard work. I wanted to post this to give other beginning traders my experiences. Don't do this with money you can't afford to lose. And study study study (both the market and books). Know Technical Analysis and Candlesticks cold. Put a successful pattern together for 30 days consistently, and then trade 100 shares.

None of this I learned at OTA.

Good luck!
 
Dikies

I hear what u are saying and yes. It does take ur own work to learn to trade. Ota teaches you this and is very upfront about this. The fact is, unfortunately most people do need to lose money before becoming profitable. Ota is not a prop firm or anythiing like that.

They don't give you the golden ticket. U are taught that there is none. Just probabilities odds and risk management. U are taught different methods and strategies and that u need to find what works best for YOU.

If u took the course and paid, then u are eligible to take it again. Once u pay for a class, u can retake as many times as you'd like.

Id be willling to bet that a lot has changed since when u took it. I personally have retaken with several different instructors and have gained a lot by retaking the claasses with several instructors andhearing their own perspectives and experiences in how they approach the market.

The best thing I've found with ota for me is that if u stay with it and keep taking the class/classes over again the learning process will be quicker. Everyone is different but I have learned everything I can learnfrom ota on strategy and risk mgmt.
Except the biggest hurdle is mental whicthey actually do have a psychologist that teaches a class on mastering the mental game.
 
Quote from Daytraderjo:

I do not work for ota. But I am a happy graduate. And post graduate in their xlt program. Both The courses are excellent.

At first I didn't think the xlt was a benefit to me. But I started to realize that it is
Awesome for me for When I hit a rough time in trading, as simply hearing things from another perspective is incredibly helpful.

Clearly- trading is along journey for anyone and everyone trying to take it on, but if there is a better resource to learn trading from, I'd love to hear about it. Unlike all those who bash everyone online, I do have an open mind.

I would find it very hard to believe that anyone has been trading and making consistent money by reading a few books.

Without any foundation, you will not realize this.

So For anyone who doesn't have 5,000 to spend on the class, you shouldnt be trading anyway. Trading isn't a game or get rich quick scheme.

The testimonials on the website are real, so check it out.
If not please let me know where u got ur education. I would like to learn futures trading next. I will be signing up for the next class at ota on futures in sept.
More...

Cmon Pal, your post is way too defensive for someone who doesn't have some skin in the game, my guess is you are either the owner or partner. You obviously are trying to lure sheep/pikers in by acting like a satisfied client. We see posts like yours all the time, and they really look like bullshit when you only have a handful of posts and just signed up. Just give Barron some money to hang up your shingle so more of us can attack your scam.
:cool:
 
You must log in or register to reply here.
Back
Top