Warning: Online Trading Academy (tradingacademy.com)
- Thread starter TraderZones
- Start date
For begineers you can have a look at the strategies from here also http://www.cool-trade.com/education/numberofstrategies.asp
thanks for the heads-up traderszone, always interesting to read first hand experiences like yours...
One thing you need to learn about Elitetrader.com or any other forum is to know a little about the OP (thread starter).
TraderZones (formerly known as rcanfiel) is a spammer. He has twice marketed his 250k trading system here at ET and had both messages deleted by ET management or a moderator for spamming. Further, prior to that he posted links to his fee-base website in his journal when he was known as rcanfiel. The moderator deleted the information and left a warning in his journal that "promotion as a none sponsor" is not allowed. His argument for spamming was that he "had planned" to share any received income with ET management...an agreement they did not have with him which is why they deleted his messages.
After those instances, he stopped spamming especially after ET members complained about the spamming and he then became the "spam watch" king via notifying ET management when a spammer shows up. In a nutshell, if he wasn't going to be allowed to spam...nobody else will be allowed to do such which is why he's very aggressive in reporting spammers down in the "feedback" threads here at ET.
In addition, he did many polls here at ET that implied he was trying to gather information from traders about their likes or dislikes concerning education et cetera. Someone became suspicious and asked "what's up with all the polls...will you be starting a new fee-base website?"...he replied "maybe".
With that said, with the verifiable info (review past threads about him and documentation) about the above statements I've made...why does he attends these free seminars?
Is it because of a personal vendetta against this specific company or is it because he's trying to learn what to do and what not to do when he plans on doing something similar. Think about it, he's attending a free seminar where folks may be ready to give $6,000 dollars and TraderZones saids...
Thus, is he trying to use someone's free seminar to make his own business contacts so that he can market his own $250k trading system. I hope not because if that's what's going on...he could find himself being sued in court. Anyways, it's something that should be consider as his motive for attending something he's "already well known" in the past for not believing in via past rants against seminars and recommendations that they should be avoided.
Yet, he continues attending these free seminars under the facade of protecting newbies...the same type of traders he spammed his own products too.
Regardless to his motive, there is truth into what he saids about the free seminars itself. Most of the stuff being taught at the "free seminar itself" can be found for free at different forums, magazine articles, chat room conversations, scribd et cetera. The only difference is that these companies have put all the information together for you that's applicable instead of you doing all the homework to find the free information on your own. In addition, you don't need to read through all the mudslinging, for example at forums, to find the free education info (e.g. gap analysis, technical analysis et cetera).
Don't be mistaken, I don't know anything about what's in "Online Trading Academy's" actual $6,000 course. Thus, I'm only going to talk about the free seminars itself. These types of free seminars have one purpose only...to market the fee-base product but that's just normal marketing as any other business (e.g. free seminar about how to buy a foreclosed home, fix it up a little and then sell it for a profit). Further, you must be very naive to think someone giving a free seminar won't try to sell you something. Thus, don't pretend to be shocked when someone tries to sell something at a free seminar.
Heck, I recently attended a free seminar on "Patio Design" because next year I plan on rebuilding my patio. Yeah, they were marketing they would be the best source for supplies and any consultation help I may need. My point, I think most businesses in the world use "free seminars" and similar to market their products (e.g. sports, real estate, home repair, kitchen appliances, book stores et cetera) and if we are easily offended if something is going to be marketed to us...I highly recommend spending your valuable time & energy in learning on your own.
Conclusion - If you're the type to go to free seminars, look for those that gives "something" or "anything" in the free seminar that helps improve your trading without having to purchase additional services. If it's truly useful, you'll make enough money or reduce your losses so that you can use the funds to purchase the fee-base services. In addition, be careful of the motive of other attendants that hang around in an attempt to talk you out of purchasing especially if they are a vendor (a person that has something to sell). You can avoid getting caught up in a lawsuit if prosecutors subpoenas you as a witness via simply having such a discussion with the likes of TraderZones at a free seminar.
In addition, only attend a seminar that gives a real trading with real money demonstration by one of the instructors or another student that has completed the course. However, I'm not sure if such is legal. By the way, in the 90's there were a few private mentors doing such but I don't know about companies as big at Online Trading Academy.
Just as important, anyone that shows up to defend a vendor...if they don't provide verification of their own success...ignore them. Just the same, anyone that bashes a vendor...if they don't provide verification of failure...ignore them. This is part of that "due diligence" that works both ways.
Mark
TraderZones (formerly known as rcanfiel) is a spammer. He has twice marketed his 250k trading system here at ET and had both messages deleted by ET management or a moderator for spamming. Further, prior to that he posted links to his fee-base website in his journal when he was known as rcanfiel. The moderator deleted the information and left a warning in his journal that "promotion as a none sponsor" is not allowed. His argument for spamming was that he "had planned" to share any received income with ET management...an agreement they did not have with him which is why they deleted his messages.
After those instances, he stopped spamming especially after ET members complained about the spamming and he then became the "spam watch" king via notifying ET management when a spammer shows up. In a nutshell, if he wasn't going to be allowed to spam...nobody else will be allowed to do such which is why he's very aggressive in reporting spammers down in the "feedback" threads here at ET.
In addition, he did many polls here at ET that implied he was trying to gather information from traders about their likes or dislikes concerning education et cetera. Someone became suspicious and asked "what's up with all the polls...will you be starting a new fee-base website?"...he replied "maybe".
With that said, with the verifiable info (review past threads about him and documentation) about the above statements I've made...why does he attends these free seminars?
Is it because of a personal vendetta against this specific company or is it because he's trying to learn what to do and what not to do when he plans on doing something similar. Think about it, he's attending a free seminar where folks may be ready to give $6,000 dollars and TraderZones saids...
Thus, is he trying to use someone's free seminar to make his own business contacts so that he can market his own $250k trading system. I hope not because if that's what's going on...he could find himself being sued in court. Anyways, it's something that should be consider as his motive for attending something he's "already well known" in the past for not believing in via past rants against seminars and recommendations that they should be avoided.
Yet, he continues attending these free seminars under the facade of protecting newbies...the same type of traders he spammed his own products too.
Regardless to his motive, there is truth into what he saids about the free seminars itself. Most of the stuff being taught at the "free seminar itself" can be found for free at different forums, magazine articles, chat room conversations, scribd et cetera. The only difference is that these companies have put all the information together for you that's applicable instead of you doing all the homework to find the free information on your own. In addition, you don't need to read through all the mudslinging, for example at forums, to find the free education info (e.g. gap analysis, technical analysis et cetera).
Don't be mistaken, I don't know anything about what's in "Online Trading Academy's" actual $6,000 course. Thus, I'm only going to talk about the free seminars itself. These types of free seminars have one purpose only...to market the fee-base product but that's just normal marketing as any other business (e.g. free seminar about how to buy a foreclosed home, fix it up a little and then sell it for a profit). Further, you must be very naive to think someone giving a free seminar won't try to sell you something. Thus, don't pretend to be shocked when someone tries to sell something at a free seminar.
Heck, I recently attended a free seminar on "Patio Design" because next year I plan on rebuilding my patio. Yeah, they were marketing they would be the best source for supplies and any consultation help I may need. My point, I think most businesses in the world use "free seminars" and similar to market their products (e.g. sports, real estate, home repair, kitchen appliances, book stores et cetera) and if we are easily offended if something is going to be marketed to us...I highly recommend spending your valuable time & energy in learning on your own.
Conclusion - If you're the type to go to free seminars, look for those that gives "something" or "anything" in the free seminar that helps improve your trading without having to purchase additional services. If it's truly useful, you'll make enough money or reduce your losses so that you can use the funds to purchase the fee-base services. In addition, be careful of the motive of other attendants that hang around in an attempt to talk you out of purchasing especially if they are a vendor (a person that has something to sell). You can avoid getting caught up in a lawsuit if prosecutors subpoenas you as a witness via simply having such a discussion with the likes of TraderZones at a free seminar.
In addition, only attend a seminar that gives a real trading with real money demonstration by one of the instructors or another student that has completed the course. However, I'm not sure if such is legal. By the way, in the 90's there were a few private mentors doing such but I don't know about companies as big at Online Trading Academy.
Just as important, anyone that shows up to defend a vendor...if they don't provide verification of their own success...ignore them. Just the same, anyone that bashes a vendor...if they don't provide verification of failure...ignore them. This is part of that "due diligence" that works both ways.
Mark
Looks like the 'firm' you work for at Grichman Jones are frauds too.
http://grichamjones.com/index.php
I guess you're here to learn how to build a better mouse trap?
Seems everyone is a self proclaimed expert here...
Talk about a bunch of pompous asses knocking OTA... all of your crap most certainly can be taken with a rock... yes A ROCK-- of salt...
Go ahead-- call me a shill-- I'll take it for what it's worth... which ain't much coming from ego maniacs like yourselves...
I will tell you I have taken the 7 day OTA Pro Trader class... it was taught by an instructor who was a market maker for 7 years with Scottrade... I would bet any one of you backstabbing this organization and proclaiming self obtained knowledge of trading would've been eating a large bowl of crow with a double dip of humble pie in this class...
Bottom line is you simply have no clue what you are talking about...
This isn't a "get rich quick" scheme they are promoting-- this isn't a bring in the herd to a hotel scenario with a yak impersonally droning on in a seminar to the masses and making u feel like an ass if you turn down a $ 3000 software package that in reality doesnt work better than monkeys and darts...
This is a continuing education (unlimited retakes) in a small group interactive atmosphere with traders who do this stuff for a living... have any of you spent time interacting lately in an Hour With the Pros webinar? Hmmm.... let's see... since those of u slamming the program aren't students... uh... that would be a NO.
STFU... u haven't a clue...
Talk about a bunch of pompous asses knocking OTA... all of your crap most certainly can be taken with a rock... yes A ROCK-- of salt...
Go ahead-- call me a shill-- I'll take it for what it's worth... which ain't much coming from ego maniacs like yourselves...
I will tell you I have taken the 7 day OTA Pro Trader class... it was taught by an instructor who was a market maker for 7 years with Scottrade... I would bet any one of you backstabbing this organization and proclaiming self obtained knowledge of trading would've been eating a large bowl of crow with a double dip of humble pie in this class...
Bottom line is you simply have no clue what you are talking about...
This isn't a "get rich quick" scheme they are promoting-- this isn't a bring in the herd to a hotel scenario with a yak impersonally droning on in a seminar to the masses and making u feel like an ass if you turn down a $ 3000 software package that in reality doesnt work better than monkeys and darts...
This is a continuing education (unlimited retakes) in a small group interactive atmosphere with traders who do this stuff for a living... have any of you spent time interacting lately in an Hour With the Pros webinar? Hmmm.... let's see... since those of u slamming the program aren't students... uh... that would be a NO.
STFU... u haven't a clue...
Education :
Text book says go short here as it is a classic head and shoulders pattern.
Learning :
Going short gets the fuck squeezed out of you where the text says by some massive buy orders on the tape .
Hence there are so many educators out there hawking stuff.
Cheers,
Max
This sounds suspect though about those classes. seriously all these "Seminars" smell like snakeoil.
I was driving in my car on a Saturday listening to the the OLT [On Line Trading] radio program on 1010 am in NC. I was the 5th caller and won a free intro class to the school plus I could bring a friend. The class was from 10 AM to 2 PM the following Saturday 6/26/10 with breakfast and lunch provided. The presentation was very professional and I was impressed with the few trading techniques they reviewed with us. However, it turned into Time Share presentation when I was called to a side room for a one on one to discuss my trading plan with a specialist. I informed Bill that I did not bring my check book and was collecting information to decide whether to attend or not. I thanked him and went back to the main room that was in progress reviewing trades for the previous week.
I was then called out of the class again with my guest for another side bar chit chat and I decided to call it a day. I said thanks but it was time for us to leave. Scott, the owner, proceeded to berate us and said "what...you can't stay...or was it the free lunch that brought you!" My guest and I looked at each other and was wondering what the heck just happened.
I did not appreciate the strong arm Time Share tactics and the owner Scott was a complete ass. I would not recommend anyone to attend a free class or sign up for a $7,999 seven day course. Oh...does anyone need a On Line Trading School pen? Scott...this is why I attended...to take your pens.
Date of Post: 2010-04-30
Review: Last year I paid S$80 to watch a live trading session by their expert trader, Ehrlic, who introduced himself as the chief analyst for a managed fund worth $150 million. In quick succession, he took 4 trades and lost all of them. I immediately made an excuse to go for a pee and didn't bother to come back to watch him make a further fool of himself. I went to the bar across the road for a cool beer.
2008-06-06
Review: BAD NEWS - Over 20 of us in their class which cost each of us $5,000.00. During the class the instructor could not make a winning trade if his life depended on it, not one winning trade. I doubt anyone ever made a dime with what was taught, in fact everyone probably lost even more money, on top of the over priced cost of the class. OTA are SLICK salesmen and are simply looking to make a buck off of everyone and also make money off students trades as introducing brokers, etc. Very disappointing! Sick to my stomach over what the class cost me. What a mistake! I'm still kicking myself!
I was driving in my car on a Saturday listening to the the OLT [On Line Trading] radio program on 1010 am in NC. I was the 5th caller and won a free intro class to the school plus I could bring a friend. The class was from 10 AM to 2 PM the following Saturday 6/26/10 with breakfast and lunch provided. The presentation was very professional and I was impressed with the few trading techniques they reviewed with us. However, it turned into Time Share presentation when I was called to a side room for a one on one to discuss my trading plan with a specialist. I informed Bill that I did not bring my check book and was collecting information to decide whether to attend or not. I thanked him and went back to the main room that was in progress reviewing trades for the previous week.
I was then called out of the class again with my guest for another side bar chit chat and I decided to call it a day. I said thanks but it was time for us to leave. Scott, the owner, proceeded to berate us and said "what...you can't stay...or was it the free lunch that brought you!" My guest and I looked at each other and was wondering what the heck just happened.
I did not appreciate the strong arm Time Share tactics and the owner Scott was a complete ass. I would not recommend anyone to attend a free class or sign up for a $7,999 seven day course. Oh...does anyone need a On Line Trading School pen? Scott...this is why I attended...to take your pens.
Date of Post: 2010-04-30
Review: Last year I paid S$80 to watch a live trading session by their expert trader, Ehrlic, who introduced himself as the chief analyst for a managed fund worth $150 million. In quick succession, he took 4 trades and lost all of them. I immediately made an excuse to go for a pee and didn't bother to come back to watch him make a further fool of himself. I went to the bar across the road for a cool beer.
2008-06-06
Review: BAD NEWS - Over 20 of us in their class which cost each of us $5,000.00. During the class the instructor could not make a winning trade if his life depended on it, not one winning trade. I doubt anyone ever made a dime with what was taught, in fact everyone probably lost even more money, on top of the over priced cost of the class. OTA are SLICK salesmen and are simply looking to make a buck off of everyone and also make money off students trades as introducing brokers, etc. Very disappointing! Sick to my stomach over what the class cost me. What a mistake! I'm still kicking myself!
