Online Trading Academy - OTA - Review of the Strategy and Education

[AKM 10]

Hello,

 

I would like to conduct online survey among those who took OTA classes. Are you able to make a living or you are just learning. Do you think OTA education scam and delusion or are they for real?!

I took Forex, Equites and Futures classes 2 years ago and did retakes also. Now I'm in XLT program for Forex and Futures. I'm trading according to their strategy but haven't achieved expected results.

I would appreciate any comments.

 

Thank you for your honest answers,

Michael

[MadMarketScientist 11]

This would be an interesting one for me to hear about as well.

 

I am in a city where they have one of their offices so I get very nice invitations about monthly to attend their freebie seminar which I assume sells you into a paid presentation.

 

I do have a friend who went to one of the freebies and thought the presentation was professional though he did not sign up for the more official multi-day training. I think the different offices were or may still be franchised so I wonder if there are any variations by location.

 

 

Hello,

 

I would like to conduct online survey among those who took OTA classes. Are you able to make a living or you are just learning. Do you think OTA education scam and delusion or are they for real?!

I took Forex, Equites and Futures classes 2 years ago and did retakes also. Now I'm in XLT program for Forex and Futures. I'm trading according to their strategy but haven't achieved expected results.

I would appreciate any comments.

 

Thank you for your honest answers,

Michael

[BlowFish 10]

I'd be interested too, I quite like the core concepts it's all built on.

 

I'd quite like to hear about the difficulty that you are experiencing AKM and who knows someone might have some suggestions (they reveal quite a lot about how the toole are constructed and how to use them in there YouTube vids)

[Peterg 10]

Hey AKM,

 

Who's capital are you trading?

 

Have you seen the actual statements of any "successful" OTA members, staff or instructors?

 

Have you actually sat down in person with someone and watched them trade their Strategies and Tactics live with real capital on the line.

 

Maybe their strategies aren't your strategies.

 

What markets are you trading and when?

 

Trading is about finding "your" niche and style.

[AKM 10]

I was expecting to hear your experience with OTA )

 

OTA strategy is trading beginning of the trend in key reversal points which is counter trend. But in most cases this doesn't work.

 

I applied their strategy, but my strategy to trade with the trend, until trend reverse!

[tmsmith319 10]

I went to one of their free classes in Chicago. OTA is a franchise business. I found the class very helpful but it is fundamentally a sales pitch for their professional trading course. I resisted their sales pitch but I have been recieving their weekly report which is very, very informative. I'm amazed that they give this knowledge away. Their essential trading philosophy is sell at supply and buy at demand but they want you to take the $4000, one week course to teach you just how to do that. I have spent over $4000 on my education so the amount is not unreasonable. In fact, I'm sorry I didn't discover these guys first. You must get to the point where you can rationalize investing in your trading education. But there are dozens of ways to trade, and only 1 or 2 is going to be right for you. You could spend a fortune trying to find the the right style or program. But you can't do this by yourself. You need to learn from the pros. I do believe that OTA is essentially an honest organization with solid programs. Just remember, they are in the business of helping beginning traders. Get past the sales pitch and learn what they have to teach.

[BlowFish 10]

I'd be interested too, I quite like the core concepts it's all built on.

 

I'd quite like to hear about the difficulty that you are experiencing AKM and who knows someone might have some suggestions (they reveal quite a lot about how the toole are constructed and how to use them in there YouTube vids)

 

<DOH> Strike all that I, was thinking of the order flow analysis people (OFA).

 

Having said that I have always liked what Sam Seiden has had to say, personally if I was to take a course I'd wait for one he was leading.

[tmsmith319 10]

Yes. I agree. Sam is the reason I even got interested in OTA training. What he says about supply and demand seems very fundamental and reasonable. It's not a counter trend approach, its getting in at the beginning of the trend (demand) and out at the end of the trend (supply). How to do this in a low risk way is the knowledge they are selling.

 

And Dr. Woody Johnson also writes some very helpful stuff on discipline and trader psychology. All of the authors in "Lessons from the Pros" are very good writers and offer very sound advice, in my opinion.

[AKM 10]

<DOH> Strike all that I, was thinking of the order flow analysis people (OFA).

 

Having said that I have always liked what Sam Seiden has had to say, personally if I was to take a course I'd wait for one he was leading.

 

I believe Sam Seiden teaches at OTA. Sam advertising XLT everywhere even at free webinars at fxstreet. But actually he doesn't present in most XLT classes.

I have XLTs with Sam for trade if someone need it.

[forexmaniac84 10]

I believe Sam Seiden teaches at OTA. Sam advertising XLT everywhere even at free webinars at fxstreet. But actually he doesn't present in most XLT classes.

I have XLTs with Sam for trade if someone need it.

 

Hi AKM,

I am interested in Sam Seiden's Supply and Demand stuff. Can you please send me the materials? Thanks

[Justaguy 10]

While I have never taken an OTA class, I am aware of someone who is in the XLT. He speaks very highly about what he is learning as well as his instructor...which is not Seiden. How well he is doing, I can not say with any sort of confidence. Unless I was over his shoulder, what I see posted I take with a "that's interesting" attitude. That said, I have seen the "before the outcome" posts of trades so it appears things are looking good.

 

I have viewed Seiden's presentations over the years and he does a great job of explaining the mechanics of supply and demand. Not just mechanics, but the psychological aspects of the buyer and seller. I do have access to a person who works in the same type of atmosphere Sam comes from and it is very interesting seeing what he refers to in regards to his background.

 

For Sam, it's not simply swing levels but quantifiable areas where it is obvious the imbalance was way out of whack. His enhancers are really the keys to finding and using those levels. Understanding what moves prices makes the way he presents his s/d very logical. I humbly disagree about it being a trend reversal way of trading. It may be a little more accurate saying he looks for the reversal of the retracment in the context of the trend. Not to say reversals for trend are not part of the game however a few things have to be in order such as higher level s/d areas. Most setups are low risk and high reward or they are passed on...usually 1:3. All in all, I like his stuff and utilize it in some of my own trading. Yes, I know it wasn't an opinion piece for those not in the course, but I could not resist.

[MadMarketScientist 11]

AKM, can you update us how your trading has progressed with OTA? A couple of months ago I know you mentioned you were still not yet seeing the results you were looking for -- wondering if any change here over last 2-3 months?

[AKM 10]

I stopped doing futures, too much volatility for a few minutes of trading, gone crazy doing that.

I am doing Forex swing/position trading based on Sam Seiden S/D based on days.

Trading is a business for Market makers and hobby for wealthy peps. Don't try to make living out of it, just IMHO. Keep it as a hobby for extra cash, may be some day....

 

p.s. If someone needs futures or forex xlt's, I can share them for the fraction of the cost.

[AKM 10]

About so called coaches I wouldn't spend a dime, no matter what they promised. If you know how to trade - you will make money trading, if you know just theory you will make money teaching.

[forexmaniac84 10]

About so called coaches I wouldn't spend a dime, no matter what they promised. If you know how to trade - you will make money trading, if you know just theory you will make money teaching.

HI,

I sent you a private message but your inbox is full. PLease delete some messages so that you can receive my message. Thanks

[MadMarketScientist 11]

AKM,

 

Thanks for taking the time to update us.

 

 

MMS

[ithamarsorek 10]

I just joined the forum and while researching sites which conduct technical analysis of the market I encountered and page called [promotional URL removed]

The information looked pretty much consistent and accurate but I wanted to get some opinion from traders with a bit more experience then I. What do you think?

Edited December 8, 2010 by TLAdmin
promotional URL removed

[termit 10]

Hi, I'm a novice.

Please help me. How to start learning?

Books, videos?

[AKM 10]

Any other opinions? Seiden's Strategy Works perfect for position, but NOT good for day trade (at least for me).

[marytee 10]

I believe Sam Seiden teaches at OTA. Sam advertising XLT everywhere even at free webinars at fxstreet. But actually he doesn't present in most XLT classes.

I have XLTs with Sam for trade if someone need it.

 

Are those recordings you made or the packaged DVDs?

[veeyem 10]

I believe Sam Seiden teaches at OTA. Sam advertising XLT everywhere even at free webinars at fxstreet. But actually he doesn't present in most XLT classes.

I have XLTs with Sam for trade if someone need it.

 

Hi AKM,

I am interested in XLT that you wish to share. Pls confirm. Thx.

[mrgani 10]

Hello AKM

 

Interested in your XLT offer.

Please let me know

 

Thanks

[Tysen 10]

Hi AKM,

 

I'd be interested, too!

 

Dany

[Power Trader 10]

I don't know if I would call them a blatant scam, but they do overpromise and under deliver. The workshops are a blatant sales pitch sort of like going to an Amway meeting, only worse. A lot of hype. No real meat. Just a lot of bologna. Mostly style with very little substance.

 

Traders I spoke with at the center said they were all losing money. One indicated that he was barely breaking even after retaking classes numerous times for about a year and spending over $20,000 in courses on upsells.

 

The classes themselves are very generalized information, hardly worth the prioce they charge. The retake is a joke, much like the old Glenn W. Turner "Dare To Be Great" motivational courses which also offered lifetime retakes but the company kept getting shut down and you had to enroll all over again. So my question to OTA is, what is lifetime?

 

Online Trading Acadmy has been around for about 20 years. It has had many name changes since it started as Momentum Securities, then Block Trading, then Newport Beach Securities and finally Online Trading Academy. Why all the name changes?

 

The classes are very expensive starting at $5,000 but they will attempt to upsell you to a $65,000 program and tell you that you are getting a bargain.

 

Trainers overall are so, so. Not that great and not worth the price they charge.

 

OTA is now aggressively pushing informercials much like Teach Me To Trade and so many other get rich quick schemes that have dissappeared. It has been assumed that the people appearing in said informercials are not real OTA students, but people who have ben compensated for their endorsements and may or may not be real traders. Decide for yourself.

 

The Forex training is pariticularly bad. In the class and on the CD-ROMS, the trainer indicates that one of the advantage of FOREX is that there are no downgrades like what happens to stocks? Come again? What about the downgrade the US got last spring and the one Greece is getting now? Who trains these guys?

 

A lot of noise is being made about an award that Sam Seiden got and those of us who know about Sam, know that he is an excellent trainer. However, the award came from one of Online Trading Academy's partners. Do I see a conflict of interest here? Is he really the best? Not if the trainer I saw in class was trained by him.

 

One more point, in the OTA informercial now airing all over, Sam Seiden is very comspicously conducting a training class that implies he is training students. However, according to OTA, Mr. Seiden does not conduct these kinds of classes to students, only trains OTA employees. Looks like deception to me. Wasn't there a guy name McCorkle who got busted for doing this same sort of thing?

 

 

Traders who have taken the class indicated that they were not making any money trading and only made money in class. Many have spent from $20,000 to over $65,000 on upgrades to other programs seeking more education but no results to speak of.

 

Suggest that you pass on this one. Besides, these companies come and go every couple of years or so.

[negi_29 10]

I stopped doing futures, too much volatility for a few minutes of trading, gone crazy doing that.

I am doing Forex swing/position trading based on Sam Seiden S/D based on days.

Trading is a business for Market makers and hobby for wealthy peps. Don't try to make living out of it, just IMHO. Keep it as a hobby for extra cash, may be some day....

 

p.s. If someone needs futures or forex xlt's, I can share them for the fraction of the cost.

 

Can u send me the price details .....