Welcome to the Traders Laboratory.

Trading Products and Services Section for discussing trading-related products and services.

Like Tree1Likes
Reply
Old 02-13-2009, 08:17 AM   #9

Join Date: Feb 2009
Posts: 4
Ignore this user

Thanks: 0
Thanked 0 Times in 0 Posts

Angry Re: Online Trading Academy

Absolutely agree. It's silly to hope than 7 day course will make you succeding trader, but maybe it will give you some instruments that of course you could have found yourself, but it would take more time and efforts, and maybe money. But I'm agree with the idea that personnal market learning is better.

P.S. I don't know how to remove angey smiley from the top of the post :)
JONX is offline  
Reply With Quote
Old 02-13-2009, 10:53 AM   #10

Join Date: Dec 2008
Location: Seattle
Posts: 5
Ignore this user

Thanks: 0
Thanked 0 Times in 0 Posts

Re: Online Trading Academy

Some people do learn better "hands-on" than by reading a bunch of books and articles. As for the web, how do you know which web sites have accurate information that will work for your style of trading (rhetorical). The course isn't for everyone which is why the free workshop is good to attend first to introduce you to what will be taught in the course. And the course is greatly improved by what the instructor brings to the course, if anything. You are right -- 7 days is only the beginning -- and you will have to keep learning on your own. If you want to day trade, statistics say only 5-7% are successful long-term.

At the risk of going off-topic, here are some calculators that may be useful but I'm not intending any new comments on this thread since it is off-topic:
http://traders-anonymous.com/calculators.aspx
mckinneyseller is offline  
Reply With Quote
Old 02-16-2009, 06:03 AM   #11

Join Date: Feb 2009
Posts: 4
Ignore this user

Thanks: 0
Thanked 0 Times in 0 Posts

Re: Online Trading Academy

I agree that trading maybe is more practice than theory. For ex. I have read a lot of literature, but there were no more than 2 books that developed my understanding of what is really goin' on concerning market.
JONX is offline  
Reply With Quote
Old 03-20-2009, 06:51 PM   #12

Join Date: Nov 2007
Location: Southern California
Posts: 11
Ignore this user

Thanks: 4
Thanked 7 Times in 5 Posts

Re: Online Trading Academy

I attended an Online Trading Academy seminar years ago in Orange County, CA. The sales pitch was pretty corny, IMO. The owner of the operation started the seminar by priming the audience to the idea that we could be trading at home in our bunny slippers, independent from investment advisors, mutual funds, etc... After an hour or so, their head "trader" casually walked in with his half buttoned shirt, gold chains around his neck and a stubbly face. He proceeded to talk about how he was totally financially independent, how he's traveled the world and charters yachts, blah blah blah...

Then, one by one, they called attendees out of the conference room and into separate rooms, where they had associates giving each attendee the hard sell. When it was my turn out of the room and into a one-on-one with a sales associate, I repeatedly declined their 7-days for $3XXX offer as well as declining to buy several of their packaged DVDs for home study around $800. They wouldn't even show me the respect of allowing me time to marinate on the ideas from the day. The sales guy, who identified himself as an OTA franchise owner in Houston, almost seemed hostile and patronizing towards the end of the sales pitch. In truth, I was actually interested in their school up until the interrogation style sales push.

Fast forward six years later to now... I'm very glad I didn't buy into OTA. Could they have effectively taught me skills to be a successful trader, I can't know. All I know is that I walked in there with genuine interest and walked out feeling like something was mighty fishy at OTA. It may be enticing to think that a 7 day course will fast track your trading skills, but I don't believe I could have had the same learning experience as I have had if I did join them. The years I've put in of reading, researching what works for me, sharing with other traders and developing my own style is something I highly appreciate.
TraderJen is offline  
Reply With Quote
The Following 2 Users Say Thank You to TraderJen For This Useful Post:
bobcollett (07-26-2009), Harlequin (03-22-2009)
Old 07-26-2009, 05:31 AM   #13

Join Date: Jul 2009
Location: Bayonne
Posts: 4
Ignore this user

Thanks: 2
Thanked 0 Times in 0 Posts

Re: Online Trading Academy

Hey guys, I just came back from a OTA Stock Trading seminar today and it seems like they have a lot to offer. My oppinion on OTA is that yea, it teaches you basics and technical analysis.... where you can get online and learning from experience. But I think what this class really focuses on is discipline, risk managment (how to control your mental stops) Psychology, not getting to greedy, not getting too carried away about your losses (thinking or hoping they will turn),
how to live, breathe, and abide by your strategies religiously and than adjust accordingly. Which I think is key because people get too carried away emotionally. This is a great class if you need some help with your stop limits, knowing when to pull out, and how to control your greed.
The bottom line is, If you are NOT HARD HEADED, than think of it as therapy.

Good reference tool, probably the best for people who know nothing about the market (great foundation). But if you've been trading for a while and have a set strategy, do not even bother.
Dompie1985 is offline  
Reply With Quote
Old 07-26-2009, 12:20 PM   #14

Join Date: May 2009
Location: little rock
Posts: 20
Ignore this user

Thanks: 5
Thanked 1 Time in 1 Post

Re: Online Trading Academy

There is a lot of truth in what you guys experienced with these academy trainings...All I know is that technical trading (method) is not enough to be successful no matter how much you pay for training and what you learn there...

There is mind (discipline and personality, greediness...all kind of emotions..etc.) and money management involved very much in trading...
Someone can make living on MA crosses and other trader will not be successful with latest and greatest indicators and platform...

There are a few instructors from OTA having webinars on FxStreet.com: Sam Seiden and Steve Misic. I respect both of them.
mjackson is offline  
Reply With Quote
Old 07-26-2009, 12:26 PM   #15

Join Date: May 2009
Location: little rock
Posts: 20
Ignore this user

Thanks: 5
Thanked 1 Time in 1 Post

Re: Online Trading Academy

Quote:
Originally Posted by Dompie1985 »
Hey guys, I just came back from a OTA Stock Trading seminar today and it seems like they have a lot to offer. My oppinion on OTA is that yea, it teaches you basics and technical analysis.... where you can get online and learning from experience. But I think what this class really focuses on is discipline, risk managment (how to control your mental stops) Psychology, not getting to greedy, not getting too carried away about your losses (thinking or hoping they will turn),
how to live, breathe, and abide by your strategies religiously and than adjust accordingly. Which I think is key because people get too carried away emotionally. This is a great class if you need some help with your stop limits, knowing when to pull out, and how to control your greed.
The bottom line is, If you are NOT HARD HEADED, than think of it as therapy.

Good reference tool, probably the best for people who know nothing about the market (great foundation). But if you've been trading for a while and have a set strategy, do not even bother.
I was talking about same thing in my previous post : discipline, hopes, emotions and I am glad you pointed it as well...Well I need it ...
mjackson is offline  
Reply With Quote
Old 07-26-2009, 05:28 PM   #16

awylan's Avatar

Join Date: Jul 2009
Location: San Diego
Posts: 1
Ignore this user

Thanks: 0
Thanked 0 Times in 0 Posts

Re: Online Trading Academy

Thanks for the links, they look really interesting.

I did go through Online Trading Academy. I was new to trading, so I was glad to have the 7 days and others to talk with. I have done most of their courses and am in their XLT (advanced training) now. It is a lot of money, but traders can loose so much more with losing trades. I think it was worth the $ for me, but I still have a lot to learn.

They teach the trading aspect well, especially if you go back and have different teachers. I think they do not cover the psychology of trading well enough at all. They just started a new course on this, which I am sure is a start.

I just started offering coaching to traders to work on the discipline (I am a business coach in a past life) since it is the discipline and psychology I find that I am struggling with now.

I agree with a post above, that it seems no matter where you are trained it just takes time to learn. You have to preserve your capitol so you don't run out while you are learning!
awylan is offline  
Reply With Quote

Reply

Thread Tools
Display Modes Help Others By Rating This Thread
Help Others By Rating This Thread:

Similar Threads
Thread Thread Starter Forum Replies Last Post
Online Trading Academy strtedat22 Trading Products and Services 0 07-10-2008 06:03 PM
Online Trading Tutorial flyingpb Beginners Forum 2 05-21-2008 11:05 AM
Online Futures Trading...Who is good to use? baseballeyeq Brokers and Data Feeds 3 04-07-2007 12:29 AM
online trading? Suzy Beginners Forum 1 10-08-2006 06:47 AM

All times are GMT -4. The time now is 10:30 PM.
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
CS to VB integration by DeskLancer
©2006-2011 Traders Laboratory, All Rights Reserved.