Warning: Online Trading Academy (tradingacademy.com)

Here is a list of the careers’ offered by OTA on their web site. Only instructors are required to have trading experience. Everyone else requires sales experience.

Instructors: 3 years of “live” trading within the last 5 years. (At least 10 full transactions per month – must be willing to show proof of trades)

Presenters:: Sales experience including the ability to adapt your presentation to interests and objections raised by your audience.

Education Director: The successful Education Director will be a proven sales professional, an exceptional motivator and team leader and will champion the Online Trading Academy sales model.

Education Counsellor: The Education Counselor, or EC, guides current and prospective students toward a successful experience at Online Trading Academy. He or she has the ability to listen closely and suggest an appropriate study plan and development path depending on the student’s interests, experience and aptitude. At the same time, you need to be a salesperson in order to convince students to make the tuition investment to advance their skills to the next level.

Center Administrator: Support sales process by preparing materials, greeting and registering seminar and class attendees, maintaining an inventory of manuals and products, preparing various operations and sales reports and ensuring that the sales database is accurate and up to date.
 
I know what they say on their website. To be blunt, all positions are sales driven and there is NOTHING WRONG WITH SALES OR SELLING. There is something, in fact a lot wrong with high pressure and manupulative selling and flat out lying to people.

To be fair, Online Trading Academy does offer some useful information at their pay for classes. Some, not much. The problem is that it is so basic and the the trainers are so bad.

The so called workshops are a joke.

Sometime ago I mentioned the All Star Event I went to in Orlando.
Here is a copy of the letter I recieved from them prior to the event:

A full day of intensive strategies that will turbocharge your trading skills!

Our top instructors from all over the world will be in Orlando for this unique event. You'll feast on back-to-back sessions covering all this and more:

•How to spot emotions in the market that increase your odds of making money.
•Learn strategies used by professional traders to give them an edge, and how to apply the same techniques in your own trades.
•How to use risk management to limit your downside and cover your assets.
•Find out what your broker isn't telling you about today's market... and how to filter out misinformation that can cripple your trades.
•Our view of stocks, metals, oil and more for 2011 and beyond.
PLUS demonstrations of trading virtuosity from our world-class team... plenty of chances to network with your fellow traders while enjoying our hospitality... and your chance to win some fabulous prizes!

Only Online Trading Academy could bring you an event this big!

As the world's most trusted name in trader education, Online Trading Academy has taught more than 20,000 graduates to trade like professionals. Our students normally pay $995 for a full-day class of this caliber, but you'll have the opportunity to attend as our guest... if you're among the first 75 to respond. Don't be left out... make your reservation now!


Sounds impressive doesn't it? But what did we really get? Basically a glorified version of the Power Trading Workshop only instead of having to listen to one bafoon, we had to listen to four or five of them. There was some good information but unfortunately it was so interspersed with b.s and sales lingo that 1/2 of the people walked out. And by the way, they attracted a lot less than 75 people so there was no real rush to be part of the "first 75 to respond." As for the $995 value, those who went didn't thnk it was even worth $9.95. Like the workshops, it was a glorified sales pitch. The best part about this was the hotel - Crowne Plaza is a very nice place. Also Bonefish, which was within walking distance was outstanding. My spouse and I wanted an excuse to go there (we live across town) so that sort of made up for the gas money of traveling to get there.

I understand SALES! I wasn't born yesterday. I also believe that you have to back up your promises and actually deliver on those promises. I did not see that at Online Trading Academy in Orlando.

As for the speakers coming from all over the world. The main speak lives in Orlando a few blocks away from the Crowne Plaza where this event was held. The others all came from corporate in California and were first and foremost SALESPEOPLES with perhaps a slight interest in trading.

Interesting the Online Trading Academy is doing a lot of heavy advertising on TV running informercials, much like Teach Me To Trade used to do and also had a look like news interview on a paid for tv show where a supposed reporter is interviewing Sam Seiden. If you see the video watch carefully at the end where it says very quickly that these companies pay for appearing on this program. In words, Online Trading Academy apparrently paid to be on this show.

Also on the formercials airing, it shows Sam Seiden performing what is supposed to be a real trading seminar infront of real clients. However, even Online Trading Academy says that Sam does not perform these vents for students but only for Online Trading Academy employees and they are for instructors.

In all fairness, I sincerely think that Online Trading Academy is better than most of the other companies that have come and gone, but there is still a lot of room for improvement. Particularly in the Orlando center.

Based on what I saw at Online Trading Academy, PT Barnum would be proud and his words ring loud and clear: "A sucker is born every minute."

If you fall for the sales pitches at Online Trading Academy, you will prove PT BARNUM was right.
 

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Hey Deaddog

Obviously you are an employee for Online Trading Academy. I just wonder which one you are, the black guy who kept telling everyone he had all of these opportunities in Houston, Atlanta, Ft. Lauderdale and claimed he drove a Mercedes when he didn't even have a car OR are you the heavset white guy who was supposed to be the manager, had three computer screens going all the time, claimed to have a lot of financial experience, worked for a securities firm and had all of these offers to work for Rich Dad and some real estate seminar outfit?

You might remember me. I came into the Orlando office last year around Christmas time. I was very upset with the classes that I was enrolled in. I came in and as you know there is a chime on the door, but nobody came out to greet me.

The heavyset white guy was sitting in the office with three computer screens going and a bluetooth on his ear. I thought he was on a call and perhaps that is why he never acknowledged me coming in. But where was everybodyelse?

I decided to wait for the white guy to get done. He still hadn't noticed me so I walked around and saw a bookcase loaded with training programs and manuals. I looked around. He still hadn't noticed me. So I picked a few of the manuals up and started browsing through them.

I looked back and he still hadn't noticed me. I was owed some cd-rom programs that were supposedly out of stock, but here they were now. I grabbed them and went and sat down near the front door after going near the office where the white guy was still playing with three computer screens. I was about to knock, but figured, no, better not, he may be talking with someone, although he wasn't speaking.

So I went to the front of the office near the door that I came in and sat down. Still nobody came out. I thought to myself, I could probably walk out of here with all of this stuff and nobody would know the difference. And you know what? I could have, but didn't.

About 10 minutes later a lady that I recognized as being the one who worked the front desk was walking from the back area. She saw me and asked me in a terrible grouchy tone if she could help me.

I told her what I was there for and the manager in the office finally turned around but said nothing. Then two guys, the black guy who had enrolled me previously and a white guy came out of another door in a power walk race towards me both with $$$ signs in their eyes and each one trying to walk faster than the other and both trying to hustle me. This was too funny.

Finally one of them, a black guy seeing who I was said "oh he is already a client" and turned me over to the other guy. Oh no money to be made on me so why waste his time with me. What a guy! He couldn't be bothered with anything that didn't generate cash.

The other guy was a white guy, older, probably late 40's early 50's with a thick New York like accent and also heavyset. I told him some of the issues I was having and said he had to speak to someone and walked out of the office. It was the guy in the front office with three screens going that was supposed to be the manager. I thought he will be some help!

Basically, to make a long story short, I got no help there. The whole thing seemed like a carnival affair except carivals are a lot more fun and more organzied.

In another regard, this was holiday time and there was no holiday spirit. No Chrtistmas Tree, not even a wreath! The lady who worked the front desk looked like the ghost of Christmas past. The black guy was the only one with a little personality but was a used car salesman and so full of himself. He was straight out of a 1970's sales boiler room. The personality was so plastic and so transparent.

One good thing came out of it. I did get the cd-roms that I was owed but they were a total dissappointment. And the manager did agree to switch me into other classes as I was so dissappointed with the Pro Trader. Unfortunately, the other classes, with the exception of the E-Minis were no better. The trainer at that class was outstanding and the material was excellent.

Overall, it was a horrible experience for me. Oh and when I was leaving, trying to create some Christmas spirit which was severly lacking. I said, "Merry Christmas!" And smiled. No reaction except the one white guy with the NY accent who looked a little doppy said, "Yeah." The others? No response.

So in addition to disorganization and manipulation, I would also add the atmosphere here as being depressing. It was like walking into a funeral home. Not what I would expect from a company that is supposedly empowering people. and "transforming lives."
 

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Quote from Fighting Scams:

Hey Deaddog

Obviously you are an employee for Online Trading Academy.
More...

Bad guess.:confused:

I just posted to show that most employees were salesmen not traders. This thread discouraged me from attending the sales pitch.
 
Deaddog wrote:

Bad guess.

I just posted to show that most employees were salesmen not traders. This thread discouraged me from attending the sales pitch.
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On that I AGREE. But didn't you also post awhile back that the Options classes at Online Trading Academy trade with real money in class and you witnessed it personally, untill I blew a hole through that one. I have taken all the classes and only the Pro Trader class has you trade in class with supposedly real money (fat chance!)

Anyway, well at least we agree that the employees there are wannabe salesmen although real professional salespeople would be embarrassed by what these people call "selling"

How are sales going over there anyway? With all of the advertisng I would think that place would be hopping. So why is the parking lot still so empty and the company still putting on their websites that classes and workshops are "sold out" when they are less than 1/3 full and many times cancelled? Hmmmm???
 

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Just wanted to add that is dpoubtful that real money is actually used. And I have to question that the trainers do this for love of industry and passion and make their living trading. When I was there and once again I say

PROVE IT!

Show us statements, confirmation slips or better yet, tax returns showing investment and income. Let's see where the real money is made; working as an employee for Online Trading Academy or trading. I already know the answer.

If you think I am wrong all you have to do is

PROVE IT!
 
Quote from Fighting Scams:

But didn't you also post awhile back that the Options classes at Online Trading Academy trade with real money in class and you witnessed it personally, untill I blew a hole through that one. I[/B]
More...

No you've got the wrong guy. Never taken a class and probably never will.
 
Deaddog wrote:

Wrong guy.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Although I would never call anyone a liar, your comment "wrong guy" is interesting. Isn't that what Joe Biden said back in 2008 when everyone accurately predicted that he would be Obama's running mate and in fact was?

In another regard, if in fact you did walk away from Online Trading Academy's TimeShare/Used Car Sales pitch and never actually took a class from them then I applaud your judgement.
Wise move.
 
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