Okay so I'm going to be attending an Online Trading Academy Core Strategy Program next week. Curious if anyone on here has been?
I'm expecting some people to tell me "you got taken" why would you spend the money and honestly I kinda agree, but my pops signed up for it and when one person signs up you get a free guest. I have the time so figured I'd attend.
Now as for their little $300 weekend class. I will say to someone who knows nothing about investing, doesn't invest in their 401k, etc, I think that probably would be well worth the money for them to get an intro to investing. Sure you could find the same info online, but to have it organized and having the accountability to have to go to a class, I can see it having some value.
So after the weekend course my dad is trying to get me to go half with him on it, it's something like 20K. I said no. I attend a lot of these hotel seminar type deals for business and investing as I am interested in the psychology behind it, like to see their sales pitch but 99.9% of the time it's a scam or complete BS.
What I will say for OTA is they do have a physical office and aren't comming to town for 2 days.
Here's what gets me though. Their trading strategy flies in the face of everything we've been told about investing. Time in the market beats timing the market. A very small percent of traders make money. Basically everything they tell you flies in the face of everything were traditionally told.
In terms of their pitch and they do make a good point and put some fear into you. They say in a market correction there's a huge loss in terms of opportunity cost if you buy in the market in 2006 or 2007 and then spend the next 3-5 years just to get back even. Your money isn't growing during that period just kind of being wasted. In the longrun obviously time heals all wounds and in the long run people are profitable but that's why they encourage you to trade so you're always making money as opposed to just buying, holding and hoping for the best.
In terms of their strategy, in a nutshell they say institutional buyers leave a track essentially when they by. They show you charts and show you how to recognize where they buy in, and eventually the market will come back down to that point where you can buy in and catch the next bounce.
I wanted to get your guys take, if you actually spend the time to learn the market, have a plan, put in the time and are disciplined do you think you can actually be profitable in the long term or is the only ones making money OTA selling their course?
Like I said it's paid up and I have the time so I'm going to go, its a 7 day course 8 hours a day so pretty intensive. Just wondering if I should have any hopes of it actually working?