Does anybody know about Online Trading Academy?

I was on the internet and found this company Online Trading Company.
They have like an 8 cd course and online trading classes for forex.

Just wondering if anybody has heard about them.

How much is it? If its more than free then it's probably a waste of money.

You will get far more from this msg board for nothing.

Here is the website.
Online Trading Academy - Online Trading - Trading Education - Trading School - Stock Trading - Day Trading

I also Googled Mike Mc Mahon who does the training.
From what I see they have classes all around the country. You pay a fee for the training and cd's and things.
So far all I have found is positive information.
But just want to be sure.

You'll get exactly the same stuff you can get free online.

2k for a 2 day course? How do I get into teaching this?

Everything you need to know about them is on the website. My experience of them has been good.

Amy Collier said:

I was on the internet and found this company Online Trading Company.
They have like an 8 cd course and online trading classes for forex.

Just wondering if anybody has heard about them.

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Eight cds:?::!: Wow, do you get a Christmas No.1s album, with Slade and Wizard on? Or is it all just cr*p you've seen and heard before?

Paul71 said:

Eight cds:?::!: Wow, do you get a Christmas No.1s album, with Slade and Wizard on? Or is it all just cr*p you've seen and heard before?

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CD's teaching you how to trade must be the biggest load of cr*p. I can't understand why people buy them. At least with a DVD you can see what they are on about but it is marginally better.

Actually, Paul, having Noddy & Slade on CD and not DVD can be much less scary .

Amy Collier said:

Here is the website.
Online Trading Academy - Online Trading - Trading Education - Trading School - Stock Trading - Day Trading

I also Googled Mike Mc Mahon who does the training.
From what I see they have classes all around the country. You pay a fee for the training and cd's and things.
So far all I have found is positive information.
But just want to be sure.

Click to expand...

Hi Amy

You would be better off putting your money in the market and gaining experience. Basic trading can be taught, but making money in the market can't be taught (unless they are teaching you a clearcut fool-proof systematic method, which they won't be). A good trader is the product of all their trades, observations and market experiences - not what they have been taught in a classroom.

Please save your money.

JD

Sorry my bad DVD's I used the wrong wording.

So what is this free stuff you can get online.
I just see all this stuff for sale.

What sort of things are you looking to find?

online trading academy

I have taken their courses - and they are good - but expensive. Not like other courses. You also get online real-time trading mentorship in the real market - real time. It's all very well saying you can get it all here or in a book - but that is not the case. Trading is a journey - you go through a process of understanding that the markets work on the principles of supply and demand and the charts tell a story. once you learn to read the story - you begin to trade successfully. most of the standard indicators are rubbish and don't work.

They do not claim that you will be a successful trader after attending the course - they just offer you support as you are learning to trade.

You need to be really careful what you say on this forum as people are really quick to shoot you down and rave about the "corporate conspiracy theory" (as I like to call it ).

I am fairly new to the game and have always wanted to get into trading in some form. Ive been researching for the past 3-4 months, read books, articles, reviews and in my opinion I did not want to loose my money b4 I knew what I was doing. even though I did foolishly loose £500 deposit by presurised sales from one particlar company..... Ive subsequently heard that others have lost a lot more and that I came off lightly.

Checked out a lot of these types of organisations and found a lot of them to be (in my opinion) fairly akin to scams and get quick rich schemes that wont work.

I checked out OTA .... youll get loads of people saying that these are not worth doing, but anyone that seems to have taken the course had really positive views. This could be contrived by the company but I thought I'd go and have a looksy as there were a lot of +ve reviews.

Ive decided to take the Pro Trader Course in January 2009 and I agree it is very expensive. I have read a lot of their traders articles and materials and I am learning hell of a lot that I wasnt getting from the books.

I asked about Pre course material and they were good enough to give the the 7 day DVD once I had paid a deposit. Im half way through it and there is a lot to take on.....but a lot of my questions as a novice are being answered and I am feeling a lot more confident already in actually begining to trade and being a day trader. So for me personally Im far to tight to take risks on just going out and trading and learning from that. I like the fact that you get continous support aswell and there is grad club .....

So the jist of this ramble is that you may be a quicker learner than me and have more confident in your abilities, but I felt I needed to know what I was doing b4 I put my money into something.

Im not going to say too much more, because Im sure ill get shot down ......

Think about this!....there is so much info out there and its mind blowing..... I found it all "overwhelming" and there are that many opinions you definately need a focus which the course is already giving me. Theres no magic formula or black boxes etc. etc. .... I dont beleive in that sort of thing ...... its hard work and a constant learning game.

Think about the market youre getting into? Youre up against a lot of big financial companies, professional traders, that have all been trained by the expense of their own companies, so I want to go in thier at least having some idea of whats going on and what the pitfalls are??????

Regards.

Online Trading Academy

I too took the Pro Trader course. If you check out this company you will find that they are a school for traders (new and experienced). They do not come to town, hold a seminar, try to sell you DVD's or software and blow out of town. They have about 30 locations world-wide. The keys to their training is that they hire outstanding instructors. Check out the list of instructors on their website. Stan Ehrlich is going to be the instructor in the Kansas City location on 1/10/09. He has over 30 years of experience and invented the "Ehrlich Cycle Finder". When a student takes a class, they sit in front of computers using a direct access trading platform, they also will trade using Online Trading Academy's money AND the instructor is helping you make your trades. The classes are usually limited to 20 students so you have a lot of time to ask questions from these instructors. At the end of the Pro Trader 7 day class, they ask you to complete a Trading Plan that is sent to the instructor. The instructor reviews the plan and makes comments. The student is also given the contact info for the instructor so you can stay in touch with them as you execute your trading plan....they don't leave you after you take the class. Another real plus is that you can take the class over again for free at any of their locations. This gives you the chance to learn under a different highly experienced instructor. I spoke to a couple of students who graduated from the Pro Trader class last month. One guy who had been trading for 20 years said that he wished that he had taken the class years ago, it would have saved him a lot of money.....a lot more than the tuition. Yes, they offer some DVD's and online advanced classes but their approach to classroom training, trading with their money and under the eye of an experienced instructor has some major advantages.

Amy Collier said:

Sorry my bad DVD's I used the wrong wording.

So what is this free stuff you can get online.
I just see all this stuff for sale.

Click to expand...

books, articles, forums, discussion with new and pro traders, sim on a SB

do you want more ???

you can always ask around :smart:

Educated Trader said:

I too took the Pro Trader course. If you check out this company you will find that they are a school for traders (new and experienced). They do not come to town, hold a seminar, try to sell you DVD's or software and blow out of town. They have about 30 locations world-wide. The keys to their training is that they hire outstanding instructors. Check out the list of instructors on their website. Stan Ehrlich is going to be the instructor in the Kansas City location on 1/10/09. He has over 30 years of experience and invented the "Ehrlich Cycle Finder". When a student takes a class, they sit in front of computers using a direct access trading platform, they also will trade using Online Trading Academy's money AND the instructor is helping you make your trades. The classes are usually limited to 20 students so you have a lot of time to ask questions from these instructors. At the end of the Pro Trader 7 day class, they ask you to complete a Trading Plan that is sent to the instructor. The instructor reviews the plan and makes comments. The student is also given the contact info for the instructor so you can stay in touch with them as you execute your trading plan....they don't leave you after you take the class. Another real plus is that you can take the class over again for free at any of their locations. This gives you the chance to learn under a different highly experienced instructor. I spoke to a couple of students who graduated from the Pro Trader class last month. One guy who had been trading for 20 years said that he wished that he had taken the class years ago, it would have saved him a lot of money.....a lot more than the tuition. Yes, they offer some DVD's and online advanced classes but their approach to classroom training, trading with their money and under the eye of an experienced instructor has some major advantages.

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I noticed on their website that they advertise discount fees from various brokerages up to the point where you are breakeven in terms of course fees v trading commissions. How does this work in reality, do the brokers just bump up the commission before giving you your 'discount' or is it genuine.

I think you are referring to their tuition reimbursement from certain broker-dealer partners. Certain broker-dealers have an arrangement with OTA to reduce their commissions by as much as 20% if the OTA student signs up with them. Trade Station is one of their partners and from what I have been able to find out Trade Station does NOT bump up their commissions for the OTA students. It is my understanding that Trade Station and the other broker-dealer partners like to have OTA graduates sign up with them because the graduates are more knowledgeable and tend to stay with them longer…..probably because they don’t lose their money and flame out. Makes sense to me. Trade Station will charge the reduced commissions until the total tuition paid to OTA is reimbursed…then the graduate pays full commissions. When someone graduates from OTA’s classes, they are given a certificate to send to the broker-dealer partner. The certificate states that the person is an OTA graduate and how much we paid in tuition for the course. Hope this helps.

Take a look at this website: Your Trading Coach | Home
At least a very helpful checklist.