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Online Trading Academy (www.tradingacademy.com)


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Online Trading Academy (www.tradingacademy.com)

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  #11 (permalink)
Site Moderator
Portland, Oregon
 
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suko View Post
Yep. It really is good stuff. I learned so much from watching it. Need to go back and watch it again. Mike draws the curtain back and reveals how veteran traders think.

They have a really good podcast, on Youtube, too.

I trade futures, so it was an eye opener to the world of stock trading.

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  #12 (permalink)
Market Wizard
Kyoto, Japan
 
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tturner86 View Post
I trade futures, so it was an eye opener to the world of stock trading.

My takeaway was that to a trader the instrument or market shouldn't matter, as long as you've got some volatility you're in business...

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  #13 (permalink)
Site Moderator
Portland, Oregon
 
Experience: Intermediate
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suko View Post
My takeaway was that to a trader the instrument or market shouldn't matter, as long as you've got some volatility you're in business...

I agree, but they went into a lot of detail about how the order process works for stocks. I did not know this before, so it was really interesting.

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  #14 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
 
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i took there 5000.00 classes when i started trading 7 years ago... you get may be 100.00 worth of education..they will also start you off on trade station... you will not like there brokerage arm.... platform good ... broker bad ...all that platform emershion time will be a total waste ..there advanced xlt program for 10,000 is not much better ... i missed that bullet but some of my class mates did not. ask for help for good educators on this forum.. or watch all the webnars... giving them your money is like flushing down the tolet. it was for me anyway

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  #15 (permalink)
San Diego
 
Experience: Intermediate
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I just attended the "Market Timing" three day class given by the Online Trading Academy 8 and 9 November 2014. I skipped day one 7 November 2014 because it was Friday and I figured mother market is a better teacher, plus I didn't really want to attend at all as a friend wanted me to go to the class with him and his son and had paid for it. In some ways I had hoped they wouldn't like it so I didn't have to go Saturday and Sunday. From the start though I committed to only attending Saturday and Sunday.

I am attaching a copy of my brochure of the course brief that I was able to chase down. Going to do this like an Amazon review.

Pros:
* Breakfast and Lunch were served daily.
* You really learn a lot about Online Trading Academy and some of their methodologies.
* It was FREE as my friend paid for it.
* Gave me time to finish my Trend Trading for Dummies Book while I sat in back of the room trying not to cause waves.
* Definitely eye opener as to the error of holding corporate mutual funds, but I still don't know if I will be shedding mine in the near future.
* You also get a great big spiral bound book with both the Market Timing material and some information on upper level classes all the way up to Mastery.

Cons:
* Issue of true Market Timing was skirted over at best.
* Whole three days was mostly a high pressured sales presentation with life insurance tactics applied.
* Homework that was given was simply used as fuel for the fire of the sales presentation under the guise of we want to see where you are at in your trading by filing out an Income and Wealth Planner. (Believe me there was no planning done for wealth.)
* Could not give a definitive answer as to exactly how many hours on site and how many hours watching canned videos would be required for each course. (This is something that could be put on a spread sheet so a busy employed student could figure our what his obligation outside of financial is.)
* Oh financial obligation, if you paid during the course for the entire Mastery program it was a total of $50,000

Some quick math with the number of people in the room was about 17,000 they would make if not one person signed up as they charged for this three day infomercial, oh and if they did sign up everyone in the room they would make between $1,000,000.00 and 1,200,000.00. Not bad for three days work. (Two can attend for the price of one, I already adjusted for couples in the class.)

Plenty of people signed up. The carrot was put out there. I passed as I don't want trade in a trading room or switch broker or platforms at this stage in my trading development, plus for 50K I think I could get much more bang for my $$$ elsewhere.

Speaking of information and training elsewhere @suko @tturner86 the YouTube Links given in this thread no longer work. Did you make copies, or do you have any other links?

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  #16 (permalink)
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@bd92154 @forgiven and @stewk2

Any updates regarding your experience with Online Trading Academy?

I've seen a recent uptick in the number of people searching for reviews for this vendor.

Mike

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  #17 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
 
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Posts: 639 since Mar 2012
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Big Mike View Post
@bd92154 @forgiven and @stewk2

Any updates regarding your experience with Online Trading Academy?

I've seen a recent uptick in the number of people searching for reviews for this vendor.

Mike

they target new traders for the most part with a flier like the other poster referenced. you are brought in for a on sight 60 to 90 min. sales pitch on how easy trading is. they pulled me on in. that is where i started. there education program is a 3 step process pro trading 1 and 2 . then the XLT program. they have programs on stocks, futures, FX, opions . the pro trading programs are done on sight for a week at cost of 5000.00. you learn the different kinds of charts,indicators,candle and chart patterns , how to draw trend lines an channels, A B C stuff, and how to use tradestation . after you complete it , they brake the bad news to you . it takes years to learn how to trade . you need to move on to the XLT program at a cost of 7500 to 10,000. i took pro 1 an 2 and some one gave me the XLT program 4 years later. the pro 1 and 2 was a waste. the XLT IS MUCH better. Sam Seiden is there best XLT instructor. he also does work for FX street. go to u-tube and look at his veto on how to improve the odds. that will give you a flavor for what is in there advanced XLT program.

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  #18 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
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Posts: 1,056 since May 2011
Thanks: 1,541 given, 445 received


Big Mike View Post
@bd92154 @forgiven and @stewk2

Any updates regarding your experience with Online Trading Academy?

I've seen a recent uptick in the number of people searching for reviews for this vendor.

Mike

Okay I guess there is one update to add to my OTA review. If you do go to OTA for one of their courses you will forever then be on their junk mailing list.

With all their training it still appears that they are heavily pimping their trading rooms. Oh I forgot to mention I did purchase on eBay one of their Advanced Trading DVD series, no longer offered, to the best of my knowledge... Well it was tough sledding listening to the snails pace of instruction. Now they do it in person. I think they do this to keep everyone drinking the Kool-aid.

Well IMHO OTA is an investment of too much money and time; but for some this just may work.
I didn't see them really presenting anything that was unethical or that has not been tried before.

Personally though I think the money spent for OTA could be spent elsewhere with much better long term results if you do not want to be tied to a room that has a subscription fee tacked onto it.

Oh by the way here are the course costs... (This doesn't include your time and expenses to attend)
Also prices are now two years old...


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  #19 (permalink)
Market Wizard
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
 
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Posts: 639 since Mar 2012
Thanks: 141 given, 378 received

i would agree with the last post 100% they hold the pro trader 1 and 2 on sight. that is a waste of 5000.00 . the XLT is much better. but not 12,000 much better. pro trading 1 and 2 is worth 500.00 to a newbe. not 5.000. the XLT is worth 4000.00 to a beginner not 12,000.00 . the master mind students have 40,000 and 5 to 10 years in education. if there are any here ...please leave review.

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  #20 (permalink)
Charlotte NC
 
Experience: Beginner
Platform: NinjaTrader
Broker: Ninja Trader Broker CQG
Trading: ES YM CL TF NQ
 
Posts: 404 since Jul 2011
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Save your money, all the XLT rooms are the same info you can't tell the difference. The same method supply and demand and trying to trade from the extreme. Same old info nothing new. Not worth it speaking from experience. 2 hours a day with a trader 3 day a week will not make you a trader. They pick levels and they are hit at different times during the day, The arrival makes a big impact if you should take the trade or not. My friends didn't make it using the XLTs a lot of them. I have a few that purchased every class. You trade with someone in the xlt and you don't know what their win loss ratio is, what their average MAE is MFE is. What the instructors avg win is or loss. How much do they make a year trading. How do they qualify to be an instructor. This is what you need to know about you. Could they make it in a TOP Step trader event maybe ever instructor has to pass that to pick you a trade with your live money. I would suggest look at top step trader try to achieve their goals while you are sim if you make it go live. IF you can qualify to trade their money trade yours use your money to buy time and learn to trade. I spent a lot then went to a Pats trading thread on this website, started watching mack youtubes videos every day and learned for free. Find what speaks to you. The best $100.00 i have spent is joining this group. I hope this helps.

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