1/2 day of free "training" ...... Don't bother unless you're really hungry!
I went to the 1/2 day of free "training"..... and this is not an evaluation fo their paid training classes..... but, since they wasted my Saturday morning, I feel obliged to give some feedbach here.
The 1/2 day of "training" was filled with "success" stories of former customers.... walking around to see the "lab", and discuss many of the name tags they had laid out in front of the computers (ie "Jim Rogers wanted a better life for himself, and he took the class and now is successful at just 3 hours per day on day trading" and another story, and another story)........ then watching a short video where Kramer admits to trying to move the market in a certain direction to make money in the other........ reviewing the 10 pillars of psychology in training...... and after a good 2 hours of not seeing a single chart, a guy shows finally shows the sp500 chart, draws a few trendlines, shows an example of support and resistance..maybe 15 minutes total of charting ...then everyone breaks for lunch........and then when you are trying to finsh your lunch, and excited that the second half of the "training" might actually be training..........they ask you if are ready to sign up for their $5K class....if you say no, you are asked to leave immediatly.
What a bunch of rubbish, which I also told the president on my way out.
On a positive note, the sandwich they feed you was pretty good, so, Maybe go if you are really hungry and have absolutely nothing better to do. For the sandwich factor alone, they will recieve a 2 rating instead of a 1!
No proof! No boards or way for members to communicate with each other.
I personally took a 1 week trial in the room and was so intrigued that a guy could talk a mile a minute and after 15 minutes you still have no idea whether he is going long or short...and thats in 4 or 5 markets! The moderator 'seems" to be a nice guy, but I hear on other boards that if they ask about money back guarantees in the room you get banned. Also it seems that they dont let the people in the chat room see what the others are saying. I alwaysa ask why in that situatiion and the answer is always the same. "We dont want the serious student to be interuppted." Thats bull, All that student would have to do is just use the moderator only feature. I actually thought it was interesting and I can actually figure out 70% of what they try to do which on paper makes sense yet rarely works out profitably. Here it is, they are getting ready for the mkts to open and since the euro is going to go in direct corrolation to the US EQUITIES MARKETS, , J.J., in the room is looking for 2 or more corrolating markets that are both over or undersold so when one starts moving he can then get on board the next mkt with more confidence, Problem is that he makes himself appear right som often but it is a 1/4 pt here, a 1/2 pt here and few traders can trade and follow 5 markets and then on different time frames for entries like JJ does. Bottom line was after 1 week I saw no profits coming out of the room and they do crude, gold, es,naz, dax and more. It was an interesting way to kill some time but lord no, would I pay this man, no way! Always ask, why would someone sell you the way they developed to get rich? Persoanlly there is this es day trading academy that seems to be the real deal and they give you a one week course with private instruction and then load 5000 chart patterns for you to go over ansd over as they use no indicators at all. I was considering getting 5 guys to put up a grand each and buy his 5k course so if we lose its not a major thing. His site is :daytradingcourse.com and I looked all oveer the Internet for months and cant find a bad thing on this guy. Very good sign. Imagine if we can get 5 guys working on that together, he give splenty of study materials and its broken down to just repitition. Site is interesting as well. Not a lot of smoke and mirrorsd. I spoke to one of the lady asst's there who was very cordial. I suspect these guys feel the way I di in my recent posts in that trading alone stinks after a while and you need company around you. Period!
if you want to day trade ,they will be of no help. there 5000.00 course will teach you how to draw trend lines. some candle stick patterns,chart patterns, how to use laging indactors,what moving averages are,ect. dont waste your money. the facts are it will cost a lot more than 5000.00 and take a lot longer than there one week b.s. class to learn. after you spend the 5000.00 and a week of your time they will brake the truth to you.it will cost 30,000+ and take two or more years if you work hard. find a pro trader that realy trades every day for a living to teach you.99% of the training and trading software will not get it done.
I am an OTA (Online Trading academy) student. I have been for a while.
I find it very concerning that there is no open forum on the OTA website where students can openly communicate with each other / start blogs / discussion threads etc.
Other Trading education organisations have this facility of allowing members to freely communicate/ discuss trades/ set-ups and the picks that are called. But not OTA. WHY ?
I also find is VERY CONCERNING INDEED that when completing the online tutoring (XLT) survey every month that the percentage of students trading successfully is tiny. There is obviously something very wrong.
Considering the boast of OTA that its the biggest and the best and that they have had many thousands of students attend their courses across the world (paying top dollar prices) I would have thought that they would have produced at least HUNDREDS of successful traders over the years wouldnt anyone think that?
Could OTA please prove this ?
I would very much like to be proven wrong with my doubts about OTA.
Excellent, in my opinion the best trading education you can get with superb support and aftercare
Have been trying my hand at trading for several years, blew out my account twice 10 years ago, then I finally joined OTA to get professional education and coaching. Having wnet through courses initially and wasted a lot of money on learning indicators instead of market beahviour, OTA has changed atht and I am finally progressing, albeit slowly due to extremely limited time. Ota is not only for teh beginner, but even teh professional can benefit from them and their aftercare in particular through the Extended Learning Track program is absolutely outstanding.
Highly recommended particularly if your strucggling, it is worth every dollar of teh cost
A very focussed training delivery company. Learning to trade in a mechanical sense is easy, developing a realistic plan and following that plan is hard. What all grads of the OTA programme have is weekly access to an instructor, weekly forecasts from a panel of instructors and also email support from an instructor. If the information has been too over the head on the first course there is always an option to retake the course at any of the centres in the world. Free of tuition fees. The XLT programme is amazing, it is practically a trading floor and the pro pick service is free money provided the individual is prepared to apply what they have learned.
Some people are never going to learn how to trade as long as they have a hole in their arse, this also applies to some OTA grads so there is no guarantee that this is a path to massive riches. What it does deliver is a structured education programme and the most important part is the chance to live trade in a classroom environment (not a hotel) for about 4 days under the advice of a coach. This is what marks the difference between the training programmes. Of all of them, OTA is Tops, It teaches students how to trade, it teaches the pitfalls, it teaches a range of strategies, it teaches trade planning and risk management. The aftercare is unparalleled and I would love to be challenged on this.