Warning: Online Trading Academy (tradingacademy.com)

Hey fightingscams, I completely understand your view and in no way am I questioning what you have heard and been through. Personally, it doesn't surprise me at all that they have done and said the things you have written about. If you read my post's, I have pointed out the sleazy aspects of their sales team. I haven't had time to write my last day yet, but you are correct in your statement about the "live" trading. I was told that was the case, but of course there was no live trading... Only sim trading. It's f'ed up that they told me that we would be trading live in the futures class, only to find out it's only the pro trader like you stated.

As of today, based on cost/reward of the "classes" I would not recommend the classes to a large majority of people. I personally learned a lot from the instructor. I can see how people with no market knowledge, i.e. Technical analysis, candlesticks, chart patterns, etc., would have a tuff time learning how to trade successfully(not at all saying that's you). They don't go into detail about what I consider a major key to trading, the technical analysis. And then to find out they charge an outrageous amout for a separate technical analysis class. It's bulls1it. That should be the core of the "classes". Not what a futures contract is and what expiration month is(that is needed info, but sh1t they could cut out a few things and add more technical analysis).

I can say again, I learned quite a bit from my instructor. Things I did not know. Do I think the cost was worth it... Not entirely, but for me kinda lol, only becuase I am able to take some of the strategies I learned and have been able to profit from them this past week and if that's all I have taken from the "classes" it will pay for it self. The majority of the people there were lost, not understanding the strategies because they were so use to trading what lagging indicators were saying(people do make money from them, I don't use very many nor do I enter trades based on them). I'm sure I could have found some of the strategies online, but I had no clue what they were, let alone what to search for.

I am not trying to convince you or anyone else out there about OTA. The other futures instructors did not trade for a living... They had other sources of income and did not depend on trading to eat. Bob Dunn did and does. To me, someone who depends on trading as their sole income, has a different look and style of trading compared to someone who is supplementing their income. Since I has the ability(I hope try don't change the rules on me) I will go back to the "classes" only when Bob is teaching.

Again, my overall experience with OTA is poor. The "class" I took I enjoyed, but my instructor is the only one that teaches futures, that has and does depend solely on trading for income and one instructor out of,let's say 6 instructors, is not very good odds. I did enjoy my "class" but the sales crap, cost and 1 out of 6 instructors that teach the classes depending on tradig for a living averages the rating to poor. I would only reccomend taking any class at an OTA if you have a general knowledge, Bob Dunn is teaching, and you can afford it.

All of this is my opinion. To each there own.
 
Thank you for your honesty. For awhile there I was beginning to think that you were an OTA plant. And while I am glad you learned something, my real question is "Is it making you any money?"

If nothing else perhaps your expence in the OTA course will at least be a tax deduction. After all, it was a total loss!
 
Quote from marketsurfer:

Will the instructors show their P&L statements and trade live in class?

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I believe they should and must. Even the sleazy mlm companies now are required to show complete disclosures of income from distributors to potential representatives.

The instructors should show their P&L statements from trading and then their W-4's to see where their real profits come from. I already know the answer.
 
Isn't it funny that a lot of OTA products are being sold on Ebay?
If those CD-Roms and videos are so great, why are so many people selling them for a fraction of the supposed cost?

ANSWER: These items are usally given away as comps by the counselors aka used car salesmen. They will tell you that these CD-Roms are valued at anywhere from $45 a piece to as much as $700 a set. The video set, they claim is worth $5,000. If in fact it is really worth trhis much, why do they give it away for FREE?

ANSWER: The information is general basics. The quality in the reproduction is not that good, in fact pretty bad and were created over 6 years ago. The videos are from 2002 and the guy on there acts like a lousy comedian. The quality is terrible and you will do no worse by buying them from Ebay. All you are probably getting is a lightly used or never used sometimes never even broke the seal set of crap from OTA.
 
Not a problem. I said I'd give a non bias opinion on OTA and I tried to be as truthful and open about the experience. I have been profitable with one strategy(I have only traded one so far). I am writing the other strategies to fit my trading style and will let y'all know how it turns out.

I hoped to come across as fair as possible, and I have my opinion on what I think they could change. I'm the type of person that would gear whatever I was doing(in this case a trading "school") to appease a majority of people. But I don't have the means to start a school lol, monetarily or knowledge.

There is a wide range of free information out there, you just have to know what you are looking for. I would recommend looking for the free information first, then start with books, and if all else fails maybe a school(hard knocks or a "school"). Hope I could be a help to someone. Again I'll let y'all know how the strategies work. And if they are good, I'll most definatly pay it forward. Someone gave me the oppertunity to trade...
 
Quote from cantgetsh1t:


Hope I could be a help to someone. Again I'll let y'all know how the strategies work. And if they are good, I'll most definatly pay it forward. Someone gave me the oppertunity to trade...
More...

A few more questions:

What did you expect to get for the money invested in the training? I ask that because at one time I was under the impression that if I were to take a paid course I would learn the secrets that could take my trading to the next level. Searching for the Holy Grail.

Did OTA come anywhere to close to living up to your expectations?

Where was their main focus? After taking this course, what area of trading will be your main focus? By this I mean how much consideration do you give the various aspects of trading, such as; set-ups, where to enter, where to exit(for profit and/or loss), having a written trading plan, position size, capitalization, risk management, trading platform and execution, or something I’ve overlooked? Did your focus change after taking the course?

You also mentioned that you felt a lot of the participants wouldn’t’ make it as traders and said you wouldn’t recommend the classes to a large majority of people. What qualities would you look for in an individual that would give them a reasonable chance of succeeding?

Did you learn enough to prevent you from making mistakes that would have cost you more than the dollars and time spent on the instruction?
 
While I can't speak for cash, I can speak for myslef and many others who attended classes at OTA.

Did WE EXPECT to learn secrets? Funny you should say that because that is the way it was sold to us. We were told that this was exclusive copyrighted material that we could not and would not find anywhere else.
Funny thing, we fnd everything that OTA taught and a whole lot more in a $14.95 paperback book.

HOLY GRAIL? Again it was sold as that, but fell far short of anything holy or special.

Did we learn anything that could prevent us from losing money? Nothing that we didn't know before and nothing that worked. Once again, most of the OTA members I spoke with losing money by the bucketload. A few were thrilled that they either didn't lose that much or will breaking even.
 
Quote from dead dog:

You also mentioned that you felt a lot of the participants wouldn’t’ make it as traders and said you wouldn’t recommend the classes to a large majority of people. What qualities would you look for in an individual that would give them a reasonable chance of succeeding?


These courses are sold by the educational counselors aka used car salesmen that anybody can do it if you just apply it. As I see it, the burden of proof is not on the member taking the classes, it is on OTA to actualy deliver on their promises. Gues what? They don't.
 
Rifraffpatrol wrote...

For all you naysayers who continue to degrade Online Trading Academy... please visit the link below for the results of the 2011 FXStreet.com Best Awards winners... in it you will see that the Vice President of Education for OTA, Sam Seiden was awarded top honors in 3 categories - Best Educator, Best Webinar, and Best Educational Content... enough said:


http://mediaserver.fxstreet.com/Rep...e50c7329348.pdf


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Funny thing, no mention here on how the members who took his classes did or are doing. If they made or lost money. And who was he compared with, some other so called trading school that cheats people out oft h eir money?

And in surfing the net, I have read some not so favorable comments about Sam Sieden. One person said, "Sam Seiden is full of himself."

Now with that.....enough said!
 
lol. academy? is this one of the students?

slava-academy-of-fools.jpg
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watch out for that mofo on the right
what kind of idiot takes these con games seriously?
 
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