Online Trading Academy

Online Trading Academy

Reviews 2.50 star(s) 6 reviews

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!

Joel
pipe dream

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.
From a very concerned student

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.
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