Warning: Online Trading Academy (tradingacademy.com)
- Thread starter TraderZones
- Start date
Quote from marketsurfer:
ask to see statements, then let us know what they tell you.
surf
Doesn't work. I showed alot of very impressive statements, and I don't make stupid claims that I can make you rich overnight etc. Just a good solid foundation of what I use day in day out to make money.
Took me years to learn some of this stuff and I can give you a shortcut to alot of that knowledge. I make no guarantees that anyone will be able to apply it under pressure as trading is very difficult and most fail.
I still got endlessly flamed on the forums..
I became interested in trading around four years ago and I'm surprised by the number of scam artists out there.
Many of those gurus running the conferences spout the nonsense that a broker would like to get true, rather than what is actually true.
For example, when was the last time one of those 'gurus' told you that the shorter the time frame the more randomness one will generally observe and that trading is therefore easier on larger time frames like daily candles? Or that adding a stop losses (other than a fairly large one) will usually degrade the performance of any trading system so low leverage is better than a tight stop?
Those things are true but they seem to tell you the opposite, i.e. what's good for your broker rather than what is good for you. They often encourge using high leverage with 50 pip stops and trading looking at five minute charts etc... It's crazy.
As a general rule the only thing worth buying is a few good trading books off Amazon and study them carefully. Then try trading with MICRO lots or a tiny amount of money. Never more than you can easily afford to lose.
Many of those gurus running the conferences spout the nonsense that a broker would like to get true, rather than what is actually true.
For example, when was the last time one of those 'gurus' told you that the shorter the time frame the more randomness one will generally observe and that trading is therefore easier on larger time frames like daily candles? Or that adding a stop losses (other than a fairly large one) will usually degrade the performance of any trading system so low leverage is better than a tight stop?
Those things are true but they seem to tell you the opposite, i.e. what's good for your broker rather than what is good for you. They often encourge using high leverage with 50 pip stops and trading looking at five minute charts etc... It's crazy.
As a general rule the only thing worth buying is a few good trading books off Amazon and study them carefully. Then try trading with MICRO lots or a tiny amount of money. Never more than you can easily afford to lose.
Yeah but there's a huge difference between getting flamed by idiots and trolls who refuse to consider your evidence and getting flamed by reasonable posters because you're running a scam and you refuse to post evidence to back up the extravagant claims. I think sensible viewers can tell the difference and respond accordingly.
I remember listening to a 'guru' at a trade show a few years back. He was telling the seated crowd "you don't have to be a weather man to know what the weather is going to be like in 5 minutes!" using the analogy to show that it's easier to trade on a small time frame on the ES.
I remember thinking 'what a ridiculous analogy' and wondering why people didn't walk out right then.
Ok, update on the discs I ordered. Before I got them I received a call from a rep trying to get me to go to classes, called me everyday so far...
Got the disc's and so far it is all a complete joke, a bunch of power points on cd with information that is insulting to people with half a brain. A new trader could go online and do 15 minutes of research on trading and get more information.
Oh...and the videos, I mean power points, crash every 5 minutes or so.
This is so sketch it should be investigated, a complete scam. I feel stupid for even thinking about buying these.
Got the disc's and so far it is all a complete joke, a bunch of power points on cd with information that is insulting to people with half a brain. A new trader could go online and do 15 minutes of research on trading and get more information.
Oh...and the videos, I mean power points, crash every 5 minutes or so.
This is so sketch it should be investigated, a complete scam. I feel stupid for even thinking about buying these.
Quote from dsave:
Ok, update on the discs I ordered. Before I got them I received a call from a rep trying to get me to go to classes, called me everyday so far...
Got the disc's and so far it is all a complete joke, a bunch of power points on cd with information that is insulting to people with half a brain. A new trader could go online and do 15 minutes of research on trading and get more information.
Oh...and the videos, I mean power points, crash every 5 minutes or so.
This is so sketch it should be investigated, a complete scam. I feel stupid for even thinking about buying these.
should online academy be on the scam list?
http://www.elitetrader.com/vb/showthread.php?threadid=212110
For all the students that have actually paid and gone through their live classes, I am finding it very difficult to find any substantial complaints from people who have actually paid the money and taken their classes. Could it be that the school is actually NOT a scam and that people are actually learning how to make money from them?? If the school were truly a scam or a ripoff, there should be a massive number of complaints floating around about them. Also, the fact that they have had only one or two complaints with the BBB is a good sign too that they are legit.