Warning: Online Trading Academy (tradingacademy.com)

Another issue is the so called "Tuition Reimbursement" program.
How come everybody I speak to says they never see any reimbursement with that program? Could it be because it is all smoke and mirrors? Just semantics? Or is it because OTA allegedly gets a kickback from that broker everytime one of their clients makes a trade?

OTA makes a lot of promises, so do politicians before elections. But what happens after they get elected? Promises go down the drain. So does your money with OTA.
 
Quote from 1765hillwood:

Let me resure you, everything OTA teaches can be found,in a couple of books. Much of what they teach is very basic stuff.
More...
Have you taken the course?
 
I know one of the instructors. I remember hearing things like "Well, we can't tell them everything." As if they were hiding some holy grail. I don't think he even traded. Sure, nice guy, but their job is to sell. Teaching is one aspect, sure, but it really comes down to, "Did you sign them up for more?"

It's like buying a car. The salesperson wants you to think you will become best friends, build a long-lasting relationship, look-out for your best interest.....

but honestly, they only want your money.

and they likely hope they never hear from you again, unless it's buying something else. or a referral. nothing more, nothing less
 
From Deaddog.....

Quote from 1765hillwood:

Let me resure you, everything OTA teaches can be found,in a couple of books. Much of what they teach is very basic stuff.
--------------------------------------------------------------------------------

Have you taken the course?

-----------------------------------------------------------------------------

AM Bankus replies: Is it just me or does Deaddog sound more and more like an OTA employee or at least a paid shill?? Why does Deaddog always rebut everybody that says negative but accurate things againsg OTA?

I wonder if he is the manager at the Orlando OTA that was picking his nose then flipped us a bird because we asked too many questions? Hmmmm......
 
From 1765hillwood



Let me resure you, everything OTA teaches can be found,in a couple of books. Much of what they teach is very basic stuff.
------------------------------------------------------------------------------

I have taken their flagship class - Pro Trader, a 7 day class and 1765 Shillwood is absolutely right. No doubt about it. In fact I think you can find much more in just one of Toni Turners books which you can buy for a measly $14.95.
 
Quote from 1765hillwood:

Yeap, I took it 1&2, I had been a way from the market for years, and I knew I needed a review.
More...

I have read the course outline. It does seem pretty general. Do they focus more on day trading or on swing trading?

I’d be interested in knowing what their top ten lists were. I see at the end of each segment of the course a 10 Laws for trading success and 10 Survival skill for a trader.
 
http://mitsloan.mit.edu/finance/stl.php


Sloan Trading Lab

MIT Sloan School of Management opened a fully equipped, state-of-the-art trading room in 1996, the first ever built on a university campus. The Sloan Trading Lab is identical in every detail to the best trading rooms in financial capitals around the world providing MIT Sloan students with hands-on experience in trading and finance. The room consists of an electronic tickertape which carries price information from multiple markets, covering all 300,000 financial instruments worldwide; two Trans-Lux DataWall panels, which display late-breaking news and other financial information fed from Reuters; and 23 trading stations.

While the Sloan trading room accurately reflects today's financial markets, it is also intended to be a research facility with the potential to play a central role in shaping innovations in the practice of finance. As with other research centers at MIT, cross-disciplinary collaboration is being encouraged. Possible avenues of research, some already under way, include projects to develop novel visualization techniques for representing complex portfolios; studies on the psychology of financial markets and how human behavior influences trading decisions; and computational techniques that incorporate artificial intelligence and neural-network theory in order to evaluate and learn, at a very sophisticated level, from past market experience.






Higher Education is the key to become a successful trader. Online Trading Academy is not higher education university.


Who has better program? MIT or Online Trading Academy?



More than 90% of small traders lose. They just lose!
 
What makes MIT a great school vs Online Trading Academy? According to MIT:


http://mitadmissions.org/apply/process/stats


Freshman Applications 17,909
Freshman Admits 1,742
Percentage Admitted 9.7%



There is barrier to entry to attend MIT while online trading academy allows anybody to attend their so called school.


According to USC professor on FX industry:

"The business model for forex trading is to burn the customer and then find another one," said Larry Harris, a USC professor and the former chief economist at the Securities and Exchange Commission.


http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403



In other word, I believe if there is no barrier to entry the business model professor Larry Harris pointed out applies. Churn and Burn to profit. For example, MIT creates barrier to entry for the purpose of education while Online Trading Academy eliminate barrier to entry for the purpose to profit and not education.

Barrier to Entry!


Beware small traders!
 
You must log in or register to reply here.
Back
Top