Doctors, Lawyers and other professionals stay at the cutting edge of their professions. They read and get additional training from qualified trainers. Key phrase is qualified. OTA was a horrible experience for me and many others. Hey, is it true that the Orlando OTA office clsoed down? Based on w hat I saw there and the total lack of professionalism, it is easy to see why.
----------------------------------------------------------- Well oh well. And there I thought it was just the Orlando office that was messed up and was hoping that corporate would notice and make some changes. Looks like I was wrong. The whole blooming company is messed up. Thank you for your input. I hope a lot more people notice before they waste their money. Sam Seiden? I met him. He seemed like a classic snake oil salesman. And from what I've heard, he is.
Quote from TruthAbtTrading: I have taken ALL their courses. Initially they are overwhelmingly informative, but after a while you realize the truth. They are a franchise and they are after your money. The instructors are teaching to make money. Most of them cannot trade, but they know how to convince you that they are traders. Each courser has a lot of overlap in content - so you are paying for the same content many times over. Their XLT is just a joke. They used to have 4 top instructors: (1) Rob McNab - intraday stock trader. real time 6 hours a day (2) Mike Baghdady - forex breakout trader (3) Fernando Gonzales - broad market analysis (4) Sam Seiden - supply & demand trading Rob McNab got arrested for trading with clients pension funds - for before he joiner OTA. OTA fired Fernando without paying him for his copyrighted material and then they renamed it and continued to teach it. Mike Baghdady left to start his own spyglass trading because he was selling his own software and OTA was not gwtting a cut - so they fired him. Now OTA has become just supply and demand. All XLT instructors just teach supply and demand. Online trading academy is a bunch of crooks - they stole content from Fernando and then fired him. They had promised to pay him for his content. Very few of their students become successful. My advice? save your money. nuff said. I hope everyone is getting the picture now about OTA
Funny no rebuttal from dd (Dead Dog) Perhaps now that the Orlando divison of OTA has closed, DD no longer has a reason to rebut myself or anyone else who has told the truth about OTA. My complaints have been about the Orlando office. Others have commneted on other OTA centers around the USA. So what went wrong with the Orlando OTA center? Here is my opinion based on what I saw there and from chatting with others at Trading Meetup Groups. 1) The organization needed a staff that was professional and really cared about the clients. From management on down it appeared as though OTA choose the bottom of the barrel in staffing their office. 2) Better training. I was appaled to see that I had spent over $5,000 for a course that was oh so basic. I was even more apalled to see that most of the clients were novice and knew nothing. Why not come up with a PRO TRADER 2 course for advanced students and cut down the PRO TRADER 1 class. One of the issues by those who stayed with the program was that after 7 days, they were drained. 3) Hire a competent manager. You need someone who is professional and can answer questions, not just pick his nose when you ask hiom something so you will leave and he can't answer. Here is another good point, get a namager who is available. The managers at the Orlando OTA office were hardly there. Either looking for houses or working at another OTA location 4) Hire a staff of people who understand trading, who are traders and demand that they continue their education. It's embarrassing when students understand stocks, options and futures more than the education counselors or even the manager. 5) The company is called ONLINE TRADING ACADEMY yet most of the classes are onsite. By offering Online classes and workshops, even within the Orlando area, OTA could substantially increase their client base. 6) Webinars. This piggybacks on number 5. Even within the Orlando area it is difficult to drive clear across town to attend an event. What if you offered the option of a webinar and more importantly you had someone who knows how to promote a webinar and get people to attend. Not only would you draw people from Orlando, you would also draw people from outside the Orlando metro area like Cocoa, Melbourne, Ocala, Daytona, St Augustine and elsewhere. The Metro Orlando area has a population of over 2 million. Certaintly enough to support a compamny this size, if it is run properly. 7) Classes should be for learning not a reason to hussle clients into other programs. Upselling should be discreet and professional something that the previous staff of OTA did not know the meaning of. 8) Grad classes should be le gitimate training opportunities not just a sugar coated sales pitch to upsell cleints to something else. In other words, they should have some meat. 9) Corporate should have had a town hall meeting with clients and let them air their feelings. If OTA decides to reopen these tactics will help or perhaps another company will come in and offer a professionally run operation. Goodness knows, the Orlando area needs one,. Just my 2 cents worth
Thanks to IBD, a slightly less shady place to learn, I am on OTA list of potential fools with extra money. By the way IBD strategy might work only in a bull market. After cancelling my subscription they decided to sell my info to OTA. I would love if someone sues them. They are going down. There is nothing you can use to make money when you read their newspaper and their webiste. About OTA: I won't give them one penny. Neither should you. They will teach you "How to identify the market turning points BEFORE they happen. " ( Their words with a capitalized BEFORE. ) Question: Why instead of teaching they just keep on " identifying the markets turning points BEFORE they happen" ALL DAY LONG ? They could simply look at their crystal ball and make millions. Answer: They don't know anything, no one knows what the market will do next. There are no market experts. Even the so called gurus and people who claim they do know, they don't. And if they did know the last thing they will do is to tell you. The reason why place like OTA are still in business is because the vast majority of people is looking for a quick fix. It does not work. There are a lot of other individuals who try to sell themselves and their advice as "expert." Don't blindly accept the advice of these self-proclaimed experts. The best advice comes from those who aren't selling it, and who make money trading. The hardest thing to believe is not their claims, but that some people will actually sign up to lean on how to become a financial clairvoyant.