Really Iâm sure. You certainly donât come across as a pro trader. My mistake for making assumptions. I assumed you were a struggling trader who went looking for some secret weapon that would put a stop to the losses and take you to the next level. Searching for that elusive âEdgeâ that would allow you to reach all your goals. Someone trying to buy his way to success. I assumed you were someone obsessed with getting even with OTA for taking advantage of your naivety. Warning others is a noble objective and I applaud you for your effort. I assumed you were convinced that the path to successful trading was through higher education. That there is a secret formula that if this and that and this all happen then the result will always be the same. The market is random. Itâs not like engineering, medicine or accounting. Itâs a game of probabilities. Again my apologies for making assumptions. You should have told us 4 months ago that you were a Pro Trader.
------------------------------------------------------------------------ So sorry that you made those false assumptions. I think that you are confusing me with YOU! So far no more postcards or mailings from companies like OTA buying my name from IBD So far no more tv ads on CNBC or our local channels. Many empty seats at OTA classes. So far, being noble has paid off admirably. I do believe in higher education, the key is education, not hype or b.s. ala OTA. Fool me me once, shame on you. Fool me twice, shame on you. It appears as though my message is getting through. Thank you for the compliments! And I am NOT going away.
keep fighting the good fight. Too many people have basically burned their money with this group. IF we save one person, this thread has done it's job.
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\\ ------------------- My experience with OTA was quite different Scamsighting wrote: Fact is, a large majority of the "Traders" teaching the class are former Students of Online Trading Academy! Again, very nice people, who would like to make you feel good and important. But no where along the process will they ever say they will make you money, or even that majority of their students make money. They can't!!! The SEC would shut down this marketing company in a second. The truth is.... Fact is that all OTA employees are required to take the classes and get to take them for free. Oh yes, they make it sound like they are former paying students who were mesmerized by OTA and then came over to work. This is total crap. The real truth is that most of the employees have been employees of other failed investment/trading companies that have fallen like Better Trades, Optionetics, Wade Cook, Wize Trade and more and now are with OTA. They are get rich quick junkies who jump from company to company, sort of like prostitutes pimping the unwary public and people naive enough to fall for their story and looking for an easy way to riches. Very few really know how to trade or do so successfully. They make their money selling trading information and classes. If you doubt that ask them to show you their w-4 and investment forms when they file taxes each year and see where their real money is made. Case closed. Best advice is to invest in some good books, attend some of the other programs available (IBD has great classes and I am not promoting them, only a satisfied client) Charles Schwab offers free classes that offer better information than what I saw at OTA. Robert Kiyosaki offers more advice in his FREE intro classes than what you will get from OTA's Power Trading Workshops and the speakers are much better. The entire event is more professional. As for the guy picking his nose, he does that to everybody that asks too many questions and did it to me too. As I walked out and turned around I saw him licking his lips and he had a stupid smirk on his lips. Hope he enjoyed it. The so called Education Counselors all have bad breath. Probably from blabbing so much. Call it sales breath. But yuck! It stinks and is a real turnoff. The workshops are not packed and usually only attract about 1/4 capacity (about 5 people) I hear that they have had some with only one person. They have also reduced the number of Power Trading Workshops recently. I hardly see this as a great business model. In Orlando, the office has changed owenership about a half dozen times at least and I hear the same thing is happening around the country. Employee turnover is very high. Morale is very low. Customers are vastly dissappointed in the service they recieve. All the special FREE events are just sugar coated sales pitches and they are poorly organized. In most cases they will tell you a few hours or a day at the most in advance that they are having a "special FREE class" and say it is by "innvitation only" to the companies preferred clients. BWHAAAAA! What a load of crap! What you get at best is redundant information, maybe a FREE PIZZA to make you feel homey and a HUGE sales pitch. What is supposed to be a 2 hour program is about 45 minutes of redundant general information the rest is all selling. Then they keep you hostage for another hour or two as one by one the "Educational Representaives" will take you into their offices and attempt to CLOSE you on the special of the day. OTA's Soupjdour. What a con job! Anyway, just my two cents
******************************************** The worst people to get financial advice from are commissioned sales people. They get paid to sell you their products and services and are usually broke and financially illiterate. Companies like OTA are a perfect example where you have sales people "Educational Counselors" claiming to own a Mercedes and making $2,000 a day when in reality they ride on a bus to work and can't even afford lunch! *************************
----------------------------------------------------------------------- The management at the Orlando OTA office would say this complaint was made by a deadbeat customer who has lousy credit or one of their competitors. OTA thinks denial is a river in Egypt. Get a clue: your people are inadequate and your products suck.
Boy, boy, boy...... Getting rich by selling other people dreams of getting rich is one of the oldest hustles around. These companies have perfected the art of playing on people's desire to get rich quick without having to devote a lot of time and effort to education and practice.