Online Trading Academy-HELP!

[wistundra]

S&L is very subjective
In order to get to Seidan you first must purchase the basic course
which also teaches S&L trading.
Seidan is the available in an XLT course.Just further mentoring,,
thats all.
Once again,, Looking at yesterday's chart,I saw the opportunitys
and took advantage off them,Whats your problem ??

I personally would like to see statements from Seidans personal
trading account before I sent any of my hard earned money to OTA

 

[Telomerase]

Hello Everyone,

New to the Trade to Win website today...looking for some help/advice if possible

I am looking at expanding my existing basic buy&hold strategy to that of day trading..

Have come across a company called "Online Trading Academy" or OTA for short, they are based near St Albans Hertfordshire..I went to a free seminar recently & am really sold on what they offer, does anyone have any feedback from attending one of there 7 day courses (which cost £3295).It's alot of initial investment for me, but obviously a good one if I can apply the knowledge and make money.

I have heard of all the negative Darren Winn/Winn investing stories, but these guys at OTA seem really genuine..

Any thoughts would be highly appreciated...
Thanks in Advance,
Darren (Not Winn!)

I would suggest buying books and reading them. 3295 is a lot of money.

 

[Bint_Crusher]

Well said. I attend 2 XLTs I have attended both the FOREX and futures courses, worth every penny. If you have your own business you can offset the courses against tax.
Not only do you learn how to trade with these guys you also learn how NOT to trade.
When I build my futures account ($50,000) I am confident that I cna trade with out any substantial losses. I already do this with FOREX and having somebody to call on via email or online chat is a great confidence boost.

 

[pozzyp]

This whole thread sounds like one long sales pitch!

I wouldn’t say don’t pay for courses as there are some good ones out there. The one thing to remember is that it’s not the learning how to trade that’s hard. It’s actually going off and doing it yourself. It’s not complicated to be taught a system and how to trade it and the system might even be legit and profitable over time and it all looks great when you’re sat there going through it with the tutor. But when you quit your job sit down on your own and try and make a living it’s a different story. Even if the course is fantastic it’s unrealistic to think that you take part in a two week course you booked over the internet and then you’re going to be off making millions . You wouldn’t take piano lessons for a week and expect to play Mozart so why should this be any different.

 

[anley]

All these guys are marketers pure and simple.

Just look how they keep dangling carrots in front of everyone, ie take the first course but then to learn even better stuff pay for the next one. But do that and guess what, the really good stuff is another payment away, pay that and they'll have even better stuff for you, for a price of course.

And so on and so on until they've taken all your cash......

PS. Pozz's point about playing like Mozart from a 2 week course is so true. I've always used a similar one in that most of these hucksters will tell anyone they can compete with Tiger Woods after a 4 week home study course having never played golf before

 

[Bint_Crusher]

Education if it is the right education in trading is cheap. Ignorance is expensive.

 

[liquid_trader]

For all students who have enrolled in the Online Training Academy classes over the many years and from all over the world, I am finding it extremely difficult to find any substantive complaints about them on the internet which strikes me as odd. Could it be that the school is NOT a scam and that students actually learn how to make money from them?? That along with the fact that there have only been 1 or 2 complaints filed with the Better Business Bureau against them, leads me to believe that the school may actually be legit.

 

[bradhouser]

For all students who have enrolled in the Online Training Academy classes over the many years and from all over the world, I am finding it extremely difficult to find any substantive complaints about them on the internet which strikes me as odd. Could it be that the school is NOT a scam and that students actually learn how to make money from them?? That along with the fact that there have only been 1 or 2 complaints filed with the Better Business Bureau against them, leads me to believe that the school may actually be legit.

Sorry if this sounds like marketing. I have no connection with OTA other than being a student last year.

Everyone learns differently. OTA is big and successful because it is not a get rich quick system. IT teaches the basics by professional traders, who trade their own accounts and teach, not just teach. No one has a perfect system, and they train you to come up with your own plan, not one of theirs.

I took the professional traders (stocks) class in April 2010 and repeated it for free in June. Each instructor had a different spin on the basic material, which they don't always follow the same way. One was big on Fibonaccis, which was a bit much for a first timer. The other was a strong Candlestick reader. They both had their strengths and weaknesses.

The discipline of getting to school an hour before the markets open in order to get a feel for the news of the day and upcoming announcements was a good habit to get into. (If you have ever had to be somewhere at 530AM you know what I mean.)

As another mentioned, Sam Seiden is really good at explaining market dynamics through supply and demand. You can find some of his articles on line, and each one adds a bit more understanding to the last. I attended a free OTA graduate lesson with him, and it was very good.

Was it worth it? To me, yes. While I still need a regular day job, the practice I got was great during the 8 months I traded in my IRA while being unemployed. I figure my learning curve was accelerated, and I would have probably lost more teaching myself than the class cost. I have been teaching myself options trading, now that I understand the basics of stocks. I would like to take an options class at OTA, but I don't have the ready cash, nor can I take a week off from work to do so.

Brad Houser
San Jose, CA

 

[wistundra]

If your interested in any of the courses OTA has too offer be
sure too check out whats available on ebay before you plunk
down your hard earned $$$.

 

[liquid_trader]

Brad, are you able to make some extra money on the side using what you learned from them? Also, what about their xtl classes? As I understand it, if you do exactly what the instructors do in that class you could make the same $$, which in time would cover the tuition.

 

[Bint_Crusher]

With OTA there are also weekly lessons and presentations from the Pros. In addition there is Power Trading Radio, 40 mins every night (UK). Most of the instructors teach different methods with some common Factors.

1. Do not risk your capital without strict risk management rules.
2. Have a trade plan and follow it.
3. Buy or sell when the relationship between buyers and sellers is out of balance.
4. Do not be fooled into believing what the markets want you to believe.

To answer liquid_trader's question, If you follow what the instructors do in the XLT Class then you will not go far wrong provided you understand what they are doing. If not give yourself the time to learn.
For now, you have nothing to lose by creating an ID on their site (since I graduated from their programme I have created several), then just see what you can get on the freebie side, If you like what you see then take it further, If not then trade using a different technique. Nobody is forcing you to listen to the usual "we are brilliant" speech but for them this is a business after all so please appreciate the reasons why they push thier products.
The XLT Programme has pretty much evolved into a virtual trading floor, many traders in touch with each other, all trading the same way, all trading the same rules, remember the Turtles? Has to be a recipie for success.
Alternatively read my other post about the virtues of training with other experts in the UK.

Greg Sucker
http://www.trade2win.com/boards/fir...ction-secker-against-grain-8.html#post1509018

 

[Dooped]

I've done Greg Sucker, OTA Forex & XLT. I found them both over hyped and expensive. They provide education, the tutors teach and get paid for that education. They may trade their own accounts but you will never see the P&L on them, why do you think that is? trust me you can't make $$ from following the XLT either!

If you can take the courses for what they are, and can afford them, good luck. They certainly gave me a good foundation and better understanding BUT not the whole picture. I saw maybe 2-3 people out of over 100 students and tutors who I think actually made money.

There is nothing more on these courses than what is available for free, here on T2W and other trading sites. It is just collected and presented perhaps in a more digestible format.

 

[liquid_trader]

Dooped, how can you say I can't make money with xlt when their YTD returns are POSITIVE??!

 

[Dooped]

Dooped, how can you say I can't make money with xlt when their YTD returns are POSITIVE??!

Do you have a link?

 

[liquid_trader]

I saw the returns when I visited the school in Irvine. And yes, they were real.

 

[Bint_Crusher]

Dooped, If you have been part of the XLT why didn't you contribute and tell us what problems you are having. There is a student review class every 4 weeks where you can submit your trades for public analysis. This is where you can learn from your mistakes.
The OTA instructors are not going to give up their p&l into the public domain, after all you might be from the inland revenue or some other slimebag organisation.
I will be attending the XLT session next week, contact me on [email protected] we will talk about what problems you are having and see how they can best be put to Sam or Justin.

 

[liquid_trader]

Bint, do you work for OTA?

 

[Bint_Crusher]

Bint, do you work for OTA?

Certainly NOT. I am in touch with them for half the week, usually 16 hours of classes so I know what is going down.

 

[Dooped]

Dooped, If you have been part of the XLT why didn't you contribute and tell us what problems you are having.

Why do you presume this hasn't been done and that you would know about it?

The OTA instructors are not going to give up their p&l into the public domain, after all you might be from the inland revenue or some other slimebag organisation.

Are you suggesting they don't comply to Tax Law? My reference was to instructors P&L not being available in the private domain for OTA students.

I will be attending the XLT session next week, contact me on [email protected] we will talk about what problems you are having and see how they can best be put to Sam or Justin.

With all due respect I'm in no need of an intermediary. Good day

 

[bradhouser]

Brad, are you able to make some extra money on the side using what you learned from them? Also, what about their xtl classes? As I understand it, if you do exactly what the instructors do in that class you could make the same $$, which in time would cover the tuition.

So far I would say that I am still learning. I have wins and losses, and in the end I am mostly breaking even. I have not taken the XLT's and there are some good opportunities to make some money if you follow along during live trading. They have online webinars every week that are free to graduates, but they usually occur outside trading hours.

Brad