traderWhit
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Some of you guys talk a lot of rubbish. Sorry to be rude, but I'm saying out of love for the trading journey - really. I attended an ota course and it was excellent. I really thought I knew it all. DO NOT try and work this trading thing out yourself, 2% of people, maybe less have succeeded in trying to do it that way and they will tell you that they lost 10 times more money than a few trading courses put together. If i never done the course, this journey would have been a never ending story. Honestly, the interaction with the teachers, in class and online - I would have never figured some of that stuff out alone, and I'm far from studip. They taught me stuff you wont find in a books, the teachers will say themselves, the more people that don't take the step to be educated, the better. Why? They teach us how to take your money, you pay thier bills because you and the old me were buying when they were selling. Harsh reality people. Get educated. Im not going to say ota are the best, but I was so happy, I spent more money to secure lifetime mentorship - which I rarely use now, because I am becoming more independant with my trading.
Think about it like this. Assuming we all went to school, why when we read the maths books and it explained the formula, then with a LITTLE practice it made sense and you could do the sums quite easily after that. Okay, notice how when you read the strategy books on (Only talking strategy books) how to trade and make money, notice how you follow the steps and it don't work consistently enough for you to make money? Go and get educated, trust me. Some of the books make very good points, no doubt, but most of the strategy books are read by the pros to find out what the novice traders are doing, trust me, 10% of traders earn off the 90% of traders who think they know it all and haven't realised that they need help and more than a bloody book. Nobody can teach you how to be a good trader, but people can teach you how to teach yourself. OTA gave me the best education to go away and work on being great and I'm still practicing a year later, but it was the best money I've spent in trading, no word of a lie. Am I making millions, no, but I feel very confident that with what I learnt and learn from them, that trading is going to work out just fine.
Most of the people who refuse to pay large sums to learn are people who are not making money, trust me, get educated by the right people or person. I'm not going to say ota are the best, but I have no complaints. There is no shorts cut and even when you do the course you will have to put in some serious hours trying to understand and retraining your brain to think like a pro trader, it's not easy and no, you wont be a pro trader after the course, but you will have the right foundations to grow to be great. Invest in yourself and stop donating money to the market.
Think about it like this. Assuming we all went to school, why when we read the maths books and it explained the formula, then with a LITTLE practice it made sense and you could do the sums quite easily after that. Okay, notice how when you read the strategy books on (Only talking strategy books) how to trade and make money, notice how you follow the steps and it don't work consistently enough for you to make money? Go and get educated, trust me. Some of the books make very good points, no doubt, but most of the strategy books are read by the pros to find out what the novice traders are doing, trust me, 10% of traders earn off the 90% of traders who think they know it all and haven't realised that they need help and more than a bloody book. Nobody can teach you how to be a good trader, but people can teach you how to teach yourself. OTA gave me the best education to go away and work on being great and I'm still practicing a year later, but it was the best money I've spent in trading, no word of a lie. Am I making millions, no, but I feel very confident that with what I learnt and learn from them, that trading is going to work out just fine.
Most of the people who refuse to pay large sums to learn are people who are not making money, trust me, get educated by the right people or person. I'm not going to say ota are the best, but I have no complaints. There is no shorts cut and even when you do the course you will have to put in some serious hours trying to understand and retraining your brain to think like a pro trader, it's not easy and no, you wont be a pro trader after the course, but you will have the right foundations to grow to be great. Invest in yourself and stop donating money to the market.
True.
B
Black Swan
I'm just curious about your satisfaction with the course.
Is it based on you being happy with learning about trading? - they showed you different tricks used by professionals and you are not profitable at the moment - still keep growing as a trader (kind of not there as yet, but one day in the future you keep hoping it may happen)
or
Is it based on your trading performance? - you've been consinstantly profitable since attending the course.
He has carefully worded his success in the future tense. In other words he thinks the training he did some time ago will make him successful in the future. I have to admit though that OTA are one of the few trainers that don't make ridiculous claims of success and riches so they deserve some credit for that.
ritzn75
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People go to school an uni to be trained... thats the way it is...
Thats in our mindset.
One can probably learn everything about this Earth on Wikipedia, but thats not the traditional way..
So people will keep looking for training and Trainers will keep offering training
Thats in our mindset.
One can probably learn everything about this Earth on Wikipedia, but thats not the traditional way..
So people will keep looking for training and Trainers will keep offering training
traderWhit
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Okay, good question. A consistant profitable trader could post his successful trading system online for everyone to see, however, the problem would not be the system, the problem would be the people trying to trade the system. Having a system is one thing, but having enough experience and belief to trade that system is another. Through the online training with the instructors, some things they were explaining to me in the first year, only started making sense in the second year. Even though I understood and it made sense all the things they were saying, me personaly, I found it difficult to conceptually understand everything to where it was second nature, only somethings stuck at one given time.
It all made sense, but I could only master one thing at a time. Then I would get good at that one thing and go and try and make money with that one thing and get stopped out continually. That mastering of that one concept was not enough to make me money and on a real, it took me time to realise that. I then would go back to them and say "I have done what you said and it is not working, why?". They would then reply and say "What about that, did you take that into consideration when you took the trade?" - my answer was always "no, i didn't". You know y, I couldn't remember they even said that, but when I was listening, it made perfect sense. The point is, although trading can be very simple, you have to master a few things, one by one, to get to a decent level. You have to practice practice practice what they teach until it becomes machanical, that takes a very very long time. Once you master every aspect of what they teach, you still ain't going to make money, why? You then need to put all those peices of the puzzle together to fit your personality to create your own trading style/system. That is what I have been doing and I feel good at where I am and where I am heading, my journey is continuos.
One thing I notice with a lot of traders who are not consistant, they want to know whether I am consistantly making money. Listen to me people, this is the wrong question. It took me a long time to realise that in the early stages of your trading journey, focusing on the money will stop you from learning. Please, just try to hear me out hear guys, I know I have a bit of a strong personality and I may come across quite pompus, but I am really sure of this. Forget the money, money will come if you focus on your trading system. I used to pull up the charts and look for trades everyday, but when you look for trades you actually stop learning. Start looking at where price turns, ask yourself, y did price turn here and not there. These questions are the foundation of building a great trading system and one that suites your trading and your personality. With a great system, you can be right 40% of the time and become a millionaire quite rapidly - you could actually be right only 35% of the time and have a growing account, but the system needs to be air tight (Air tight DOES NOT mean getting every trade right, its okay to be wrong, this game is definitely NOT about getting it right EVERY time). Air tight trading systems with good rules in place takes a lot of hours, hours that I never ever anticipated, but it has all been worth it. I love this game and i am a lot closer to my trading goals. Strive for progression as oppose to perfection. Progression will lead to perfection.
I'm sorry to say this guys, but if you ask me about money, the likelyhood is that you are focusing on the wrong thing. Read page 179 of your New Market Wizards - read the first question and answer. This trading thing is not a joke. Then read page 172 of your New Market Wizards (NOT the first Market Wizards, NEW Market Wizards). The answers have really impacted my approach to becoming a great trader.
My honest current position is that i have lost a bit of money and spent about £15,000 on my education and now that my system is at a really really good place, i lack the funds to make serious money. However, im working on that part and this is also part of the journey. Once i can show my system doing great on even a micro account, i very confident that i can walk into most firms and strike a deal. Most of my money has been spent on my education and also spent on living expenses to accomodate my learning while i sit infront of the screen everyday for no less than 10 hours a day. Please note that i have NOT been looking for trades for 10 hours a day, i wouldn't learn a thing if i done that. Research research research people. Once you done that, you then need to perfect money management and that is another subject all together.
Feel free to question me and I apologise if I come across rude, I just believe that my journey has taught me a lot and I feel very strongly about trading and what it takes to be great at this.
TraderWhit
traderWhit
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NEW Market Wizards, page 172, question 2 and the answer.
NEW Market Wizards, page 179, question 1 and the answer.
NEW Market Wizards, page 179, question 1 and the answer.
traderman1
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You have been learning and trading for over TWO years.
WHEN you eventually become great at trading, THEN come back and confirm that it was all because of the Online Trading Academy.
Your quotes above do NOT inspire me.
safvan
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Training and proper education is very important in anything you do. Granted there are few things that people learn with trial and error on the job but basic training is important. Imagine joining a new job without any sort of an orientation. Now how you excel later in your career is totally up to you. When you grow in a profession you automatically go into mentor ship mode and train and teach the new incomers.
New traders need mentors not two or three day courses. Its a continuous development process.
Thank you.
New traders need mentors not two or three day courses. Its a continuous development process.
Thank you.
TraderWhit,
I appreciate your honesty.
I'm surprised about the amount you spent on education (I didn't know it could be that much) and the lack of consistent profits.
Again, I've never paid for training, systems etc. - so maybe I'm not the best person to judge.
It's a bit of a challenge spending all that money and not having enough to open a trading account. May be a good idea to open a micro account, so you can apply the knowledge.
All the best.
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At least you're honest. I wonder how many people would sign up for OTA, or any other trainer for that matter, if they were told that after spending 15k and trading/learning full time they would still be in a position were they were not yet making any money after x number of months/years (how many has it been by the way).
At what point in time are you going to say to yourself that the training didnt make you successful?
These comments arent specific to OTA, I just think that even with the best of intentions (and some of their intentions are questionable) these companies are not going to bring anyone success.
traderWhit
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Firstly, Traderman1, my intention was not to inspire you, if I did say that, then I apologise that I didn't. If you are looking to be inspired, then I suggest you buy into that "Get rich quick" schemes and trading companies that proclaim this journey is easy. Believe it or not, I am telling you how it really goes and admittedly, if someone told me that this was going to take so bloody long for the markets to make sense, that wouldn't inspire me neither and I would have probably went and become a Doctor.
I spent around £2000 on Steve Nison's candle stick stuff (DVDs, books), £1000 on books that everyone has recommended, Market Wizards etc. Lastly, the rest was spent with OTA because I believed in them after taking one course. Thinking about, I may have spent a tad more. Not to mention what I have donated to the market.
I started by reading books for 7 months, paper trader for 6 months, became the best paper trader in the world, lol, 13 months down the line I opened an account with interactive broker because I thought I was top boy trader after making it big as a paper trader, lol (I was so silly). After two weeks I was down £6000, I cried because I thought I had sussed this game because I was good a paper trader (it just didn't make sense). I continued to revenge trade with tears in my eyes disregarding everything I learnt as a paper trader and lost another £3000. 16 months had gone by now and I was in a worse place mentally. I did learn that paper cannot prepare for you the emotional aspect of trading, experiencing a real loss is was not easy. I quit, but for only 3 months, I didn't like the idea that I had been defeated where at least on person had succeeded. 19 months on, I began to look back at what went wrong and saw the errors of my ways and began to address them and realised I need to be properly educated this time around. A year and a bit out of OTA, with occasional mentorship and I am finally getting the hang of trading. During that year my tradeing improved immensely, I was 25% write out of about 170 trades and my acount was only 15% down. I eventually doubled my account and got too cocky and it drop again. However, I was improving and I was on a high. My money management was tighter than ever as I wasn't and will never risk more than 1% of my account per trade. I have continued to make strides and I am surfing without working, but not making enough to live lavish as top traders do, but that will come with more hard work that intend to put in. No more courses tho, lol.
I refuse to come on here and lie to you guys. It has been the hardest journey of my life. I am not a quitter, so I stuck it out and I am very happy at where I am now. Some of u guys want me to tell you a rosey journey like people and companies do, but I ain't going to give you that - it's far from the truth. 10% of traders make consistent money, 90% of them will never ever become good and that's not because they can't, it will be because they fail to stick with this journey and give it the intense time it needs. You cannot do two hours a day, no bloody way - that is a myth. You will not progress - the market changes and you will be constantly left behind.
Okay, has anybody bothered to check the pages of those books I mentioned?
Please guys, fire more questions and although some responses are really irratting and quite rude, I have become a really really control and disciplined person, so I rarely get offended. I hope someone is getting something from my harsh words. Please just try and find some positive along with the negative responses I have been receiving - good things take time. To conclude this response, I plan to make millions and the money I have spent would have been a very good risk to reward. That's how you have to look at this game.
God bless people.
TraderWhit (my be some typos)
I spent around £2000 on Steve Nison's candle stick stuff (DVDs, books), £1000 on books that everyone has recommended, Market Wizards etc. Lastly, the rest was spent with OTA because I believed in them after taking one course. Thinking about, I may have spent a tad more. Not to mention what I have donated to the market.
I started by reading books for 7 months, paper trader for 6 months, became the best paper trader in the world, lol, 13 months down the line I opened an account with interactive broker because I thought I was top boy trader after making it big as a paper trader, lol (I was so silly). After two weeks I was down £6000, I cried because I thought I had sussed this game because I was good a paper trader (it just didn't make sense). I continued to revenge trade with tears in my eyes disregarding everything I learnt as a paper trader and lost another £3000. 16 months had gone by now and I was in a worse place mentally. I did learn that paper cannot prepare for you the emotional aspect of trading, experiencing a real loss is was not easy. I quit, but for only 3 months, I didn't like the idea that I had been defeated where at least on person had succeeded. 19 months on, I began to look back at what went wrong and saw the errors of my ways and began to address them and realised I need to be properly educated this time around. A year and a bit out of OTA, with occasional mentorship and I am finally getting the hang of trading. During that year my tradeing improved immensely, I was 25% write out of about 170 trades and my acount was only 15% down. I eventually doubled my account and got too cocky and it drop again. However, I was improving and I was on a high. My money management was tighter than ever as I wasn't and will never risk more than 1% of my account per trade. I have continued to make strides and I am surfing without working, but not making enough to live lavish as top traders do, but that will come with more hard work that intend to put in. No more courses tho, lol.
I refuse to come on here and lie to you guys. It has been the hardest journey of my life. I am not a quitter, so I stuck it out and I am very happy at where I am now. Some of u guys want me to tell you a rosey journey like people and companies do, but I ain't going to give you that - it's far from the truth. 10% of traders make consistent money, 90% of them will never ever become good and that's not because they can't, it will be because they fail to stick with this journey and give it the intense time it needs. You cannot do two hours a day, no bloody way - that is a myth. You will not progress - the market changes and you will be constantly left behind.
Okay, has anybody bothered to check the pages of those books I mentioned?
Please guys, fire more questions and although some responses are really irratting and quite rude, I have become a really really control and disciplined person, so I rarely get offended. I hope someone is getting something from my harsh words. Please just try and find some positive along with the negative responses I have been receiving - good things take time. To conclude this response, I plan to make millions and the money I have spent would have been a very good risk to reward. That's how you have to look at this game.
God bless people.
TraderWhit (my be some typos)
traderWhit
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OTA did provide me with life time mentorship Safvan. I'm not here to push OTA either. I have learnt to embrace the journey. It's the journey that builds us - the outcome is a mere bonus. Keep posting guys.
traderWhit
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Please read those pages - it's very important to read the pages I referee to.
traderWhit
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Referred*
Honest post
Should make it easier for anybody considering paying for a trading course.
traderWhit
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It was money well spent in this instance. Thanks though bro.
