Warning: Online Trading Academy (tradingacademy.com)

[Mark2m]

For years I had struggled to make a living from trading. About seven years ago, I luckily found and joined the Denver Trading Group. For $60 at that time per year, we had seminars, meetings, etc.. with the best traders in the world stopping by. Since many of them were in Denver to 1) ski 2) promote their latest seminars and possibly a just published book, we were given the option of having mini seminars for $25 on Saturday AM.

I and most of my fellow members learned a great deal from the best of NY, and Chicago. Quite a few of these traders had unique styles but certain commonalities were prevalent. Price (candlesticks), Volume , MA's, and Fibs (support and resistance) were predominant in all these meetings.

You don't really need an expensive online academy, or a seminar which cost a small fortune and your retention is negligible. Find out what works for you, off course the above is important, and read and find some Wycoff, Gann, Pesavento, whatever makes you successful and trade with confidence and a plan.

 

[Riffraffpatrol]

Quote from marketsurfer:

You are really out of your league. I see you you studied all the OTA material and know it well, but are lacking in true understanding. How was the real estate investing section of the course? LOL!

hey marketsurfer.... nice call on the s & p today.... LOL

No stops?

An average downer eh?

I'm done with you.

 

[marketsurfer]

Quote from Riffraffpatrol:

hey marketsurfer.... nice call on the s & p today.... LOL

No stops?

An average downer eh?

I'm done with you.

I'm far from a guru and make lots of mistakes. Don't follow me, Mike!

 

[kut2k2]

Quote from Riffraffpatrol:

Your response simply reveals your unwillingness to acknowledge the obvious-- that any derivative from price cannot possibly be without some type of lag- and therefore not as reliable as price alone. Deny it simply shows your ignorance, stubbornness, or both.

Momentum: a derivative of price that never lags price. Enjoy the ignorance and stubbornness your OTA training has trapped you in.

 

[Neenisti]

Quote from kut2k2:

Momentum: a derivative of price that never lags price.

Nicely stated.
Few know how to accurately read it though.
Fewer still care to learn.
Even fewer understand the importance.

 

[genelongo]

"dsave": if you are having problems with your CDs, please email me at gene@otahq.com and I will have someone help solve this or any other problem you are having with our company.

 

[marketsurfer]

Folks, If you truly want educated on how the market actually works read " trade like a hedge fund" by James altucher. No need to pay for rehashed data from anyone

OR/and

Spend your money as a deposit at a reputable prop firm with a stake in your success. Training this way assures that you learn what's working right now... Let me tell you, it's not "indicators" or red light green light type stuff.

 

[Neenisti]

Quote from marketsurfer:

Folks, If you truly want educated on how the market actually works read " trade like a hedge fund" by James altucher. No need to pay for rehashed data from anyone

Is this your trading bible?

 

[dsave]

So I was contacted by OTA about the discs not working and they replaced them with another set that works perfectly. As much as I riled on them in this thread, I do have to acknowledge that their customer service did a great job helping me out.

 

[dv4632]

Quote from Bolimomo:I thought we are beating a dead horse to deader than dead already. I have no further eval to give other than what I already did.

I paid my $5000+ or whatever at the time for my class. I like it that I got it back through commission rebates as I trade actively.

Some believes in paying for education. Some believes in everything should be free. It is all in the eyes of the beholder. You may believe in paying every vendor a fair price for any service you receive. Or you may believe everything on the street is free for the taking. I paid my tuition and spent my time taking the class. I consider it worthwhile with the commission rebates.

Am I a profitable trader? Yes. I have been trading for a living now for a few years. Did what I learn from the OTA class make me profitable? Some of it. Not entirely. It's a combination of what I learned (or got re-enforced by them) and my other self-studying endeavors. Can you be profitable without OTA? Hell yes! Anybody can. Can anybody be a brain surgeon without going through a medical school by reading enough books? Maybe. I wouldn't say no. Anybody can become successful in what he/she chooses to do it he/she is determined enough without any formal education. (Who taught the first teacher?)

So... prove to us that you are profitable! I submit my trading account statements. It must be audited! So I get some auditor to audit the authenticity of the statements. So how can we trust the auditor? The back and forth will just go on and on. And by the way... why would I spend my money to hire auditors to prove the trustworthiness of my bank statements, and my time doing so, to a bunch of strangers on an online forum???

Here is some honest advice: spend less time trolling online boards and blowing whistles. Nobody owes you nothing in this this (trading) world. Go ahead and attend all the freebie sessions and eat all the free pizzas, sandwiches, candies, whatever. I think they don't mind whether or not you sign up for the class. It's all part of their business costs. They are after those who show some interests in their services. If you don't like what you see, that's okay. By talking other attendees out of taking the class... well, I think that's uncourteous. If you feel so strongly about OTA, you might as well wave a sign outside the hotel saying "OTA sucks".

It seems that now some of you no longer have a Alex Puretick to kick around, you just need to find another punch bag to let out anger and frustrations in trading.

Sure you can find a lot of information on the Internet for free. Some are good. But much are questionable. Or at least not applicable to you. Now you say someone should gather all the good ones and present them to you all in one place. And do it for free. Yeah, right.

So go ahead and call me a shill or whatever label you want to use (some ET'ers just love to label people). Because I don't give a damn. I only have my own trading account to report to.

You know what? If you spend more time in studying the markets and your own trades and learn something from them, with the same determinations and vengeance that you would trashing other people's posts, you just might become profitable than remain a frustrated trader so much sooner.

+1

One of the best posts I've ever read on a trading forum.

I've never used OTA so am not trying to defend them. But just saying there's no way to guarantee success in trading. If everyone made money then there wouldn't be a market. You need the many losers to feed to few winners.