My earlier post.... The only thing I would add at this point is a quote from Bill Cosby, "I word to the wise is not necessary. It's the stupid ones who need the advice." My experience from attending multiple classes at Online Trading Academy is that in addition to homeless people looking for a free lunch and warmth, the clientyle they attract is typically the naive from the get rich quick crowd who soak up late night informercials and when they sucked into the low down payment high interest financing and fall for the show and take classes, when it doesn't work, they are naive agaiin to believe that it is not OTA's fault. It was the market or they need to retake the class again and perhaps they will "get it" the 2nd time, the 3rd, time, the 10th time and so. One final note about Online Trrading Academy and their instructors, they tell us in class never to use limit orders or stops. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ If OTA was teaching Drivers Ed (God Forbid) they would probably tell people not to use breaks or turn signals either-LOL
If you feel that strongly that you got ripped off and they won't give you a refund, why not sue them in small claims court? It is obvious that you are on tilt and in my opinion you are doing more damage to your own mental health than to OTA's reputation by rehashing the same complaint over and over. You may not win but it might be cathartic for you to make your case in front of a judge and make OTA answer your charges.
Most folks with common sense do sue in small claims court when it involves thousands of dollars when they feel they've been ripped off by anyone...dollar limit @ http://www.nolo.com/legal-encyclopedia/small-claims-suits-how-much-30031.html In contrast, those that decide not to sue usually do such because of any of the following reasons: * They want to remain anonymous to be able to continue attacking online or any way they can. * They are not a client. Instead, they are either a former disgruntle employee or a business competitor that knows in-depth details via someone else that is a client. The latter can be seen by their constant quoting of other anonymous clients. * They are still angry and vindictive of a failed relationship (personal or professional) with someone that is an employee of Online Trading Academy (OTA). * They did sue in small claims court and is currently awaiting their day in court. * They did sue in small claims court and lost. Thus, they can't do it again and decided to do the above (angry and vindictive). * They are mentally unstable.
In my experience, most people do not sue in small claims court even though they may have a good case. The primary reason for that is they have to do it themselves.
Excellent point...he/she could have a strong case but the work involved in proving the case is too much for one person to prepare alone. Simply, take the battle online seems like a good alternative solution but as you noted...not worth it in the long term (damage to one's mental health). Thus, if someone has the time & energy to bash anyone for any particular situation...doing such day after day, month after month...that's a person that can easily use the same time & energy to go to small claims court. Anyways, time for me to move on to another thread. I'm done with this one and want to get back to talking about the markets in other threads.
Another reason: they feel ashamed if they admit being scammed for thousands of dollars. What does that mean? If other people find out you are an easy target for con men. People will think your dumb and gullible. It's like raped women not wanting to prosecute rapists. Too much shame.
Quote from Riffraffpatrol: Totally incorrect. A real time price chart is not lagging by any shape or form. Reading the tape? Certainly an indictor for momentum in real time... however not the primary decision making factor by any means... -------------------------------------------------------------------------------- From Market Surfer You are really out of your league. I see you you studied all the OTA material and know it well, but are lacking in true understanding. How was the real estate investing section of the course? LOL! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ More proof that people who pass through the OTA school of b.s. pay a lot of money but come out with very little knowledge. QUERY: Does it bother you that Online Trading Academy (OTA) employees come on here pretending to be satisfied customers with incredulous, phoney stories or neutral parties serving as intermediaries when they are really trying to hype their company with false claims? Well, does it bother you?
On 9/29/11 I wrote this..... My personal experience with Online Trading Academy (OTA) is that they make a lot of promises, a lot of statements but fall far short on delivering. If in fact their trading is audited by a third party (don't hold your breath), why won't they release it? If they had such a document, it would be posted on their walls, on their presentations and in their literature. Since it is not, isn't it safe to assume that it doesn't exist? The OTA model is based on time share sales gimmicks. You come in for a FREE presentation with the promise of FREE gifts and then once you are in there you are nailed with a 1980's type of boiler room broker selling mixed in with a used car salesman approach. Easy to see why OTA is running so many ads and informercials desperately trying to get people into their "time share" like facade. Their strategy is not working. However, it should be noted that it's not fair to compare OTA to Time Share. The Time Share presentations are more professional and the gifts are better. And if you think the Power Trading Workshops (PTW's) are a joke, try attending one of their "offsite" or "ALL STAR EVENTS" These are just glorified versions of the PTW, only instead of just 1 used car salesman-speaker, you have 5,6 or more and again it is just one big sales pitch. They will tell you that they have special speakers coming from all over the world. For example, the event in Orlando last January, the primary speaker lives in Orlando about 2 miles from from the Orlando OTA office. The other speakers came from the corporate office in California and are part of the "seminar team" headed by a guy name Lance Straus who has worked with all of the seminar companies that have come and gone starting with Wade Cook and moving up. He has a horrible reputation in the industry. But wait a minute; I thought OTA was not a seminar company and didn't run hotel seminars? Guess again. This one was the Crowne Plaza in Orlando. Oh well. The PTW and the ALL STAR EVENTS I attended had most people walking out. The food was cheap danish, a lousy sub and the gifts were not even worth $5, let alone the $207 they claim. The cash prizes are just gift certificates intended to lure you to buy more of their overpriced products. And even though they will tell you the classes are being discounted, they are overpriced by at least 50% just to pay the expences of the seminar team that flies in from the corporate office in CA and the gal who drives 2 miles in Orlando. You were wise to see what was going on and killed the order. And you are not alone, my best guess is that at least 95% who go to the OTA circus do the same. To be fair, my association was with the OTA office in Orlando. It is possible that the other offices around the country are run more professionally, but from what I have been hearing, doesn't sound like it. By the way, I went through the PRO TRADER CLASS and then was shifted into the FUTURES CLASS and attended part of the PRO ACTIVE CLASS, FOREX and the OPTIONS CLASS. I didn't see any earth shaking information. The manager allowed me to shift around as I was totally unhappy with the flagship class PRO TRADER. The trainers, with the exception of the Futures Class were not that good and in fact downright boring. They was a lot of selling being done right in class that we paid for. Not the PTW which was a blatant sales scam, but the classes. Just wanted to give you a preview of that to expect if you signup for this gig. Their sales pitch is right out of a tin can. Save yourself a lot of time and aggravation and skip this one. --------------------------------------------------------------------------------- The only thing I would add at this point is a quote from Bill Cosby, "A word to the wise is not necessary. It's the stupid ones who need the advice." My experience from attending multiple classes at Online Trading Academy is that in addition to homeless people looking for a free lunch and warmth, the clientyle they attract is typically the naive from the get rich quick crowd who soak up late night informercials and when they sucked into the low down payment high interest financing and fall for the show and take classes, when it doesn't work, they are naive agaiin to believe that it is not OTA's fault. It was the market or they need to retake the class again and perhaps they will "get it" the 2nd time, the 3rd, time, the 10th time and so. Sorry to say, from what I saw and was told, it just costs them more money and time with the same dismal results. One final note about Online Trading Academy and their instructors, they tell us in class never to use limit orders or stops. hahahahahahahaha. No wonder some peiople lost $10,000 or more following their advice. Nuff said. ---------------------------------------------------------------------------------- 10/24/2011 -I will only add at this point that if you go to one of these carvial side shows, leave your wallet, purses (ladies) credit cards and checkbook home and leave your drivers license in the car. They will try to take that too. And for God's sake don't fall for the "We'll have one of our boys go home with you to get your stuff." Don't laugh, they try it and they may even ask for your car keys. Experiencing OTA in 2011 is like a trip down memory lane to the 1970s/1980s high pressure selling. Only thing is they don't wear plaid or leaisure suits!
I would have to agree with Bloomberg education is the key. The problem is who do you believe. Find someone who is trading succesfully for guidance. OTA is probably one of the better schools together with Jared Martinez's Market traders institute. You have to then take what you are taught and apply it consistantly! There are no shortcuts!
SETRIGHT WROTE: 10-26-11 07:42 AM I would have to agree with Bloomberg education is the key. The problem is who do you believe. Find someone who is trading succesfully for guidance. OTA is probably one of the better schools together with Jared Martinez's Market traders institute. You have to then take what you are taught and apply it consistantly! There are no shortcuts!------------------ -------------------------------------------------------------------------------- I agree with Bloomberg too that education is key. I have never said anything against education and certaintly am not advocating ignorance. As for OTA being one of the better schools, compared to who? Better Trades, Teach Me To Trade, Wade Cook, Larry Pino???? Who? My experience with OTA was a bad one. Teachers were not that good and it was one big sales pitch with a lot of manipulation. Calling them a school is quite a stretch. I would like to know if there are any legitimate schools out there that really teach people how to trade successfully and treat people like people, have competent trainers with real counselors not used care salesmen and when you pay for a class, you get actual training, not just another sales pitch to buy yet another class. And another. And another ad nauseum. The Pro Trader class supposedly had training on stocks primarily and also training on Forex, Options and Futures. Turned out that even the stock training was light and as for the rest it was just an advertisement for the other classes. Just enough to pique your interest, a glorified informercial during class time that we had paid for and then the so called counselor would come in and take us out to their office to nail us with their canned sales pitch that was right out of a tin can. At the FOREX class (which was terrible), there was a heavy push for the Futures Class as well as sellinig other products. Futures class was promoting the Options class and the Options class was promoting the Pro Active class! Jeesh when does it end? So are there really any legitimate companies out there that offer real training that is actually worthwhile? If there are, please ename at least one. Any real schools? Can they back up their claims with documented proof and do they have trainers who actually trade and know what they are talking about and are not booooorrrrrrriiiing?