Warning: Online Trading Academy (tradingacademy.com)

[AM Bankus]

Quote from deaddog:

One thing I learned about infomercials, is that if you see them 2 weeks in a row then they are effective, If the product doesn’t sell they kill the commercial. I would guess the same applies to other forms of advertising. Gotta figure if there are lots of ads out there that they are working.

You realize that you are also a subtle form of advertising and you are not even getting paid.

Every time you post, you bring OTA to someone’s attention. I understand that you are trying to warn people about them but some will check them out anyway. ET after all has its share of bitter failed traders who blame everyone but themselves.

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I seriously doubt if what I am doing is getting more people in OTA's door. In fact, quite the opposite. The OTA center in my area has had a complete management turnover removing all staff up to and including the manager and client seats are empty. Not a positive sign.

You are right though. I am here to warn people and it looks like it is working.

 

[AM Bankus]

Quote from deaddog:

The question is why don't they work?

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In my opinion this industry is overstacked with marketers from the cheap bottom of t he barrell who are on the internet to the bigger companies like OTA who appear to have a high profile and are disseminating basically useless information.

Hopefully people like me will help clean up the industry, get rid of the maggots and perhaps bring some quality in.

My email box is loaded with junk from various promoters.
My phone rings constantly. Bottom lineis I have yet to find even one good program. None are authentic.

My purpose here is to warn people and it appears to be working.

 

[deaddog]

Quote from AM Bankus:

my purpose here is to warn people and it appears to be working.

You should get OTA on emg’s "List of all scam unregulated 3rd party educational vendors"

 

[AM Bankus]

Quote from deaddog:

You should get OTA on emg’s "List of all scam unregulated 3rd party educational vendors"

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Good idea. Perhaps I'll try it. I have already written to IBD and told them that I will cancel my subscription if they ever seel my name to creeps like OTA ever gain. Many others are following suit.

 

[AM Bankus]

Quote from deaddog:

Here is a list of the careers’ offered by OTA on their web site. Only instructors are required to have trading experience. Everyone else requires sales experience.

Instructors: 3 years of “live” trading within the last 5 years. (At least 10 full transactions per month – must be willing to show proof of trades)

Presenters:: Sales experience including the ability to adapt your presentation to interests and objections raised by your audience.

Education Director: The successful Education Director will be a proven sales professional, an exceptional motivator and team leader and will champion the Online Trading Academy sales model.

Education Counsellor: The Education Counselor, or EC, guides current and prospective students toward a successful experience at Online Trading Academy. He or she has the ability to listen closely and suggest an appropriate study plan and development path depending on the student’s interests, experience and aptitude. At the same time, you need to be a salesperson in order to convince students to make the tuition investment to advance their skills to the next level.

Center Administrator: Support sales process by preparing materials, greeting and registering seminar and class attendees, maintaining an inventory of manuals and products, preparing various operations and sales reports and ensuring that the sales database is accurate and up to date.

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So in other words, to work at OTA you have to be a salesperson? Why surprise, suprise. I guess that explains all the snake oil/used car high pressure selling tactics used from the moment you walk in the door. Thank you for sharing this.

 

[Daytraderjo]

They are not THAT bad...(except the tax thing).
They just arent THAT good. But, who is?

 

[deaddog]

Quote from Daytraderjo:

They are not THAT bad...(except the tax thing).
They just arent THAT good. But, who is?

Speaking from experience???

 

[Daytraderjo]

Dead-dog...yes. They arent scammers. Its as legitimate as your gonna get for trading education.. If anyone is dumb enough to think that trading is gonna be a walk in the park after taking a course, then you need to take a long stare at urself in the mirror and wake up to the real world.

 

[AM Bankus]

Quote from Daytraderjo:

Dead-dog...yes. They arent scammers. Its as legitimate as your gonna get for trading education.. If anyone is dumb enough to think that trading is gonna be a walk in the park after taking a course, then you need to take a long stare at urself in the mirror and wake up to the real world.

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My experience with these guys is that they come within an inch of breaking the law. They make grandiose promises, overstate the value of their "education" and charge way too much in proportion to the value of what they offer.

They are also very unprofessional and downright rude. They are totally lacking in people skills.

 

[AM Bankus]

Education Counsellor: The Education Counselor, or EC, guides current and prospective students toward a successful experience at Online Trading Academy. He or she has the ability to listen closely and suggest an appropriate study plan and development path depending on the student’s interests, experience and aptitude. At the same time, you need to be a salesperson in order to convince students to make the tuition investment to advance their skills to the next level.

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I have taken a lot of education, legitimate education and typically the definition of an education counselor is someone who guides you to the right career path and explains how the course of study can benefit you. By OTA's own definition taken from their website, the Education Counselor is a sales position.

My experience with OTA is that there was very little counseling. They came across more as a one size fit's all, here is what we offer, here is our specialy for today only (ha,ha, ha -it is offered all the time) It was 99% high pressure selling and perhaps at best 1% counseling. No wonder attendence has been dropping like a rock.