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Investing Online Trading Academy - my experience Search this thread. Feb 15th, 8: Reply to Thread Reply. Page 1 of 8 Jump to page: Online Trading Academy - my experience As I promised from the other big thread: Questrade, I registered and completed the 7-day course at Online Trading Academy.

I kept my word. More on the cost and value later. This is a school, they teach you the skills and tools. I'll call him Mr. It is hard to summarize a person, but simply put, he was amazing. He's one of those quick, witty, fast, smart, nice guys that you may know of. He used to work at trading companies more than 10 , thanks to his awesome personality, smartness, he met lots of high up people, CEO's of banks, trading firms, etc.

R would answer all questions, good and stupid questions.

One of the students was clearly not there to listen, yet Mr. R still answered his questions I certainly wouldn't have. Instead of writing financial formula's down on the board eg. Its like when I was at University, some smart kid doesn't memorize physics equations, but derives them from nothing! R told us over 40 real life stories, which really drove the point to each thing he was talking about.

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He also showed us his own personal trades, and WHY he did it, and man, he must be a millionaire by now, with his GOOG, AAPL, and BIDU trades alone. But he plays everything, currency, options, etc. But given all the proofs that he showed us, I shouldn't be surprised, but still. Seeing it in action is impressive. I'm sure he made a nice bundle there again. R is simply an amazing guy. He cares about the students, and he's friendly too. No wonder he has so many friends.

He promises to respond to all our emails, maybe late, but he will. And he is true to that word. Of course, I gave him top marks at the evaluation at the end, I think everyone in my class did as well. Class Class started on a Saturday, 9am. Basically, they teach you how to day trade stocks by teaching you technical trading skills.

They also built many other skills, concepts so you can do this full time to earn a living. Starting on Monday, using the info we were taught on Sat and Sun, everyone trades for real with real money for 2 sessions each day. Each session was I think 2 hour? But when you are trading, you get excited or nervous or mess up by clicking the wrong button, the time flew by so fast, it seemed like 10 minutes. As advertised on their website, you trade with the school's money. The instructor sets us up by going through a list of MUST DO's each day before you trade.

You may go long or short on 10 stocks they give you. You may only buy 10 shares max, and keep 1 stock max at a time. Your stop is 10 cents. So things are pretty tight and it was hard to make money.

It is harder than it looks. Due to not being able to use and understand all the things I've learned to clicking on the WRONG button by shorting vs.

Which was my station. So, I am glad I'm able to make this mistake in class and not at home with my own money. There are lots of things you can learn from trading it for real. Basically it is all technical trading tools and skills. Yes, you can read books to get all this, but you'd have to read maybe 20 books and somehow know to pick out important ones to get the same info. The most important difference is that an Instructor is there to teach it to you.

Explain things when you don't understand, and explain WHY that tool is important. And you CANNOT ask a book a question. It won't answer ya. After introducing a tool, eg. R would tell us his opinion on using this. If it was a good indicator or not from his many years of trading experiences.

His experiences alone was worth a lot IMO.

The amount of info they taught us was enormous. My head actually hurt when 3pm comes along. It felt like someone stuck a needle full of info and injected it into my brain. I have two big bound paper full of handouts 2 inches thick , and I took so much notes each day, my hands hurt after each day. Reminded me of my University years. At 4pm, everyone in the class was basically spent. But the amazing Mr. No, actually I bet he'd beat the E Bunny hands down.

When I went home every day at 4: I almost dreaded going to the next morning sometimes. So you certainly get your money's worth there in content. After you've finished the course, you get to login to their STUDENTS section in the website. Wow, there are TONS of stuff in there. Remember, there is UNLIMITED re-takes, so feel free to go back and re-take the class. There were 3 people in my class that were re-takes.

On their website, for graduates, one of the coolest, and best things they have is a LIVE and recorded lecture taught by OTA instructors around the World. They do one every few weeks and I attended one LIVE on Tuesday when I didn't have work , and the instructor brings up the charts, about students logged in, and you hear the instructor's voice and see his mouse charting and plotting.

You can ask questions live, and he answers them right away. After 1hr of that session, I wanted more.

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I learned a lot in that session, esp. Then reveals his answer. Each session of course has a topic. They are also recorded, so I can login right now and watch it at my own time.

So it shows you if the technical analysis worked or not. If you want this service to ask about your own stocks, you can too, for a price, they call it XLT. The price is here: But it is a life time membership. So this like a big community of traders, they analyze the hell out of a stock, everyone including OTA instructors are in there, will provide comments. R tells us they form groups and actually all TRADE at the same time.

I suppose you should be able to earn that back. When you talk to the counsellor there, they are able to throw in some extra stuff for free. Like visiting the first days of another course, attending workshops, etc. The basic price can't be changed, which is fair I suppose. But, the instructor, content, live trading was TOP NOTCH. So, the more you trade with QT, the faster you'll get all your tuition back. So you got your education for free in a sense. Believe me, you can take this class 5x and still can learn something new.

Because the market changes every few months. Some students took it during a recession like me , then I should come back when it is NOT a recession to see what the differences in trading is.

You get the picture. Like I said before, you can read technical trading books, they will teach you the same thing, but a book will NOT answer your questions. The book won't look at today's news and teach you which info to pay attention to or not. The book won't be there when you are trading to answer "Mr. I drew this support line here, and here's an ascending triangle, am I correct? Am I happy I took it? Have I used what I learned to gain me money? If you are planning to take it, please let me refer you.

I get a credit for my next course if I ever take one. Email or PM me. Don't know what to say if I should say anything. Don't refer this to your friends and family members.

Sounds like the OP had a pretty satisfying experience. If OP felt good about it and walked away feeling it added value, good for him and money well spent.

But I can also see ckhw's point though, some people wouldn't drop that kind of money for a seminar. But yea, if OP feels good, good for him, and money "well" spent for him. I wouldn't assume after taking a professional day trading course that you can jump in the driver's seat and trade full-time for a living and make a handsome income.

Trading is one of the hardest jobs out there because most don't have control of their emotions when it comes to putting their money on the line.

Most of us are risk averse because risk means discomfort and pain. We try to avoid it as much as possible. Funny how no where in the review do you talk about risk management or trader's psychology which is far more critical than understanding fundamental analysis and technical analysis.

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What is going on there? Is he a swing trader? What I want to see is a instructor that actually trades for a living, grinds it out like the daytraders do Even the ones we miss. Is there a class action law suit against this organization yet? I want to be part of it. The practices of this organization are wrong and play on the emotions of people who can not effort to lose. How do we start a class action law suit??

Posted by Virignia Hutchens on April 18, Good comments by all. Yes, I forgot to say, some parts of the course where spent on talking about your emotions, how to handle them, and your checklist and toolkit before you take a trade.

For more in depth emotions, trading style, what stocks are right for you and not right for you, they have another workshop, which I got for free that I have to attend, so that is another course. This is an education, not just a seminar. So its like going to golf school to learn how to play golf. When you graduate from this school, one cannot expect to suddenly be able to play amazing golf. Yes, the instructor is an active trader, but as an instructor, he said the rules of the school does not allow him to day trade prob because that will interfere with his teachings everyday, suddenly have to walk outside to make a trade.

So he can only swing trade. Same with ALL OTA staff as well. So yes, he puts his teachings into action himself, he showed us his account he didn't need to, but like I said, he's an honest, nice guy, nothing to hide and some of his trades. He showed us WHY he put those trades in, using the same skills and analysis that he and OTA guidelines taught us. The instructors also taught us how the market works. Market makers, routing, things you will never learn from books or internet because it takes someone who's actually been inside to know these things.

Yes, there are TONS of insider trading. They told us, it can be as simple as "if I wear a yellow tie today, BUY Google, because our company is going to upgrade it today".

Also, why do you think the market moves up or down JUST before the economic news comes out? It is supposed to be secret and no one knows until it comes out at say But yet, the market moves in a certain direction at It is because he said, a LOT of people already read the news. Because they had to give the news to CNBC, CNN, etc. Hence, lots of eyes have seen it before He told us, one time a CNBC reporting mistakenly said: Because he just told the world he SAW the numbers prior to the actual reveal" I agree with Shawn99, you don't suddenly come out and suddenly get rich.

I should say "successful trading" is very tough.

No other school in Toronto that I've seen provides an education like this. So, they can charge whatever the hell they want. Stick with GICs, slow mutual funds. Worth it or not, up to you to decide. Also, he showed us in the crash, WHY did we bottom at that level. He used the technical analysis and showed us THERE, exactly the support line from previous year. And he was right. One can predict where the market would have bottomed. The concept is simple. Because all the BIG players use the same type of technical analysis.

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