Quote from AM Bankus:
SETRIGHT WROTE:
10-26-11 07:42 AM
I would have to agree with Bloomberg education is the key.
The problem is who do you believe. Find someone who is trading succesfully for guidance.
OTA is probably one of the better schools together with Jared Martinez's Market traders institute.
You have to then take what you are taught and apply it consistantly!
There are no shortcuts!------------------
--------------------------------------------------------------------------------
Fighting scams wrote:
I agree with Bloomberg too that education is key. I have never said anything against education and certaintly am not advocating ignorance.
As for OTA being one of the better schools, compared to who? Better Trades, Teach Me To Trade, Wade Cook, Larry Pino???? Who?
My experience with OTA was a bad one. Teachers were not that good and it was one big sales pitch with a lot of manipulation.
Calling them a school is quite a stretch.
I would like to know if there are any legitimate schools out there that really teach people how to trade successfully and treat people like people, have competent trainers with real counselors not used care salesmen and when you pay for a class, you get actual training, not just another sales pitch to buy yet another class. And another. And another ad nauseum.
The Pro Trader class supposedly had training on stocks primarily and also training on Forex, Options and Futures. Turned out that even the stock training was light and as for the rest it was just an advertisement for the other classes. Just enough to pique your interest, a glorified informercial during class time that we had paid for and then the so called counselor would come in and take us out to their office to nail us with their canned sales pitch that was right out of a tin can.
At the FOREX class (which was terrible), there was a heavy push for the Futures Class as well as sellinig other products. Futures class was promoting the Options class and the Options class was promoting the Pro Active class! Jeesh when does it end?
So are there really any legitimate companies out there that offer real training that is actually worthwhile? If there are, please ename at least one. Any real schools? Can they back up their claims with documented proof and do they have trainers who actually trade and know what they are talking about and are not booooorrrrrrriiiing?
=============================================
AM Bankus replies
Exactly my point. The focus is on constant upselling and the product that OTA offers is different in class than what is presented at initially at the PTW and thenin the closing room.
When I enrolled in college, I wasn't told that I would recieve one program and then when I showed up for class was presented something else. Also when I enrolled in business management, there was no upselling to another class ala OTA.
Another point, as a result of the education I recieve in college I now have a hefty networth to trade and invest with. which I am hoping to increase. When I went to OTA I was looking for education and on the surface they appear to be genuine --the real deal. Not so.
So if I enlighten just one person to at least thoroughly research OTA before writing them a check or whipping out their credit cards, then I have succeeded.
By the way, when I was at OTA there was one gentleman who actually got sucked into OTA's PASSPORT PROGRAM, a $65,000 program where you suposedly own everything. He got this on $1,000 down and only 18% interest. Later, others in the class found out that this same guy didn't even have enough cash to open a brokerage account with the broker that OTA recommends.
In another instance, at their PTW-Power Trading Workshop, the class of people were either very old, broke, looked dirty and one was even a homeless man who came in for a free meal! This guy was ingenius. We found out that he hangs out near OTA, set up a email account at the library which is in the same complex, registered himself online and used a local pay phone to call OTA on their 800 number. We found out that he had done this several times and OTA never discovered this. When they did they were furious.
I and a few others are trying to let people know ahead of time what OTA is all about. Hopefully a few of you are getting the point and at least are interested enough to completely check these guys out before you give them your money.
