Quote from Daytraderjo:
Wow
I find the tax situation interesting. That is certainly a new spin on things to me. Mr. green is the authority on trader taxes, so u gotta believe him on that aspect. Ota must have totaly changed gears recently. When i first took courses with them in 2010, I was recommended to a reputable accountant for trader taxation, who is definitey reputable. (i know this for a fact). Also, mr. Greens name was brought up in class as well, so it didnt "used to" be that way. I guess they were upset when mr green i assume told them where to go when they wanted him to be their "bitch".
They didnt used to sell the tax deductuion game to students, which it seems they are now doing per mr. Greens post. Thats certainly a really bad and stupid thing for them to do. When i would ask tax questions, they would say they dont know, and to talk to a trader tax cpa professional or to go to mr greens website....
2 years ago when i took classes, Ota, i believe was a good place to start for education Seems like a lot has been moving in the wrong direction. They have been growing it seems, but perhaps not in the right direction...
When i took classes, i was taught all the basics which i needed at the time, and they sold me that it was not a get rich wuick scheme and hard work was required to get where i wanted.
They taught support and resistance and trendlines as being the key to all. Indicators as tertiary. (which is still fine )
Each instructor had their own niche, which was to help us "find ourselves", and they all were different and complemented each other. one would be able to use what worked for themselves and teach it how they wanted to.
The teachers were given a lot of freedom which was a good thung,
It now appears as if the game has changed. In order to be a teacher, seems like u must conform to the ota way of tradng and teaching, which is by strictly using the simple "supply and demand" method. (support and resistance). This is taught as a holy grail simple way of trading and it sounds good, but its just a counter trend trading which is great when it works!!!
And It is a good sell, cuz eventually u will hit one out of the park, and u can put it up as a selling point and say that u called the top or bottom!!
They have lost s lot of their good instructors.
Probably the ones who refused to teach students a system that wasnt really viable anymore in the current mkt conditions.
Still some good teachers there, but they do have to conform to the ota supply demand thing, so u domt get as much from them as u used to.
They seemingly refuse to admit that the market changes each and every day, and one needs to adjust for mkt conditions to be consistant. They want to make it sound simple And that it can be done over and over again the same way (to get more clients).
The fact is, u gotta adapt and be a camillion to survive.
Regarding tradestation: i do still get ota comission rebates.
I doubt it will ever pay for the courses i paid for, but i do get the rebates.
And yes, tradestation is the best charting platform around still regardless of ota's obviously tight relationship with them.
Hope i helped someone out there.
Hit me up with questions.
I am free of charge.
