My wife and I have now completed the 3 Day Market Timing course, 2 Day ProActive Trader 1 and 3 Day Pro Active Trade 2 for a total of 10 FULL days and I would urge anyone reading reviews to make sure you are reading a review of someone that actually took the courses and NOT just someone that went to their introductory 3 hour class/sales pitch as that is like buying a car off of a picture you saw once.
Anyhow - I have to say my wife and I are both MORE impressed than we had hoped, we had a GREAT instructor (Tre' Owens) and he worked very hard to get everyone up to speed regardless of how much or little familiarity people had with the markets, computers, software and trading. We had a class of 25 people ranging in age from probably late 20's to early 70's and with all varying levels of computer competency and market knowledge. Many people barely knew what a stock was and most had no idea what an ETF was - he brought everyone up to speed in 10 days.
I was very impressed that for the people that were having difficulties with concepts, trading platform, etc. the OTA support staff was with them every step of the way to help get them what they needed to understand and be successful. It was VERY OBVIOUS that the OTA staff was fully invested in our success for the long term and if for some reason a person does not succeed, it would not be from lack of support and help from OTA. Trading is NOT a get rich quick scheme, it can be very hard work (especially if you are totally new to it), but a strong commitment on a student's part and OTA's support - I am certain it is achievable - no matter what level or station in life you are starting from.
To me, I think the biggest testament to OTA is that I am quite certain that if you asked each of the 25 students in our class if they felt it was worth the expense - I am pretty confident that all 25 would answer with a resounding YES! Keep in mind that over 1/2 of the class obviously was not able to fully grasp all of the concepts, trading platform, chart reading, etc. that was taught to us over the 7 days - but OTA continued to show us and stress to us all of the great ongoing, online support materials available to us that will help us to revisit and lock in everything we were taught. You also have lifetime retakes (which seemed a little suspect to me and I wondered if they really did it, or just told you that) and over our last 7 days, we had one student do a retake from 7 years
ago, one taking it a 3rd time from 2 years ago and one taking it for the 4th time. (Our instructor was an OTA student years ago and said he took it 6 times before it all sunk in).
I guess the ultimate test will come with trading results - but I can say that during the course of the class (and their daily "ProPicks" that their instructors share with students so they can take the trades too), I saw winners (and I took some winners) and I saw losers (and I took some losers), but the OTA method of trading focuses on picking the proper entry and then keeping your stop set tight (but in a proper location) and if you pick the right setup, your winners should be 3+ times your losses, which if you only have 40% winners and 60% losers, you will still be profitable (but their ProPicks have been running about 58% winners for the last 1,200 trades or so AND the winners are consistently larger than the losers).
After about 3 days in class, I started applying their methods to my personal trading and I took 5 small trades in class (on their money) as I was learning and I had 4 winners and one loser. I picked the stock, the entry, the stop, the targets based on their methodology and it WORKED. I know 5 trades in not a statistically valid sample, but I am convinced that even if I am not "Getting it" and have a string of losers, I will be able to review them with OTA and get help on what I need to adjust.
One last comment - the only frustration I personally had was that having traded successfully for 10+ years on the Tradestation platform, I was a little frustrated that so much time was spent teaching the class how to use the platform, enter an order, set up a workspace, save a chart, draw a trendline, etc. etc. Everyone else in the class really needed this knowledge and the instructor and OTA support made sure everyone got what they needed - but I personally already had this knowledge and respectfully suggest to OTA they break the class into two parts (Platform operation AND their trading method) and if a student can prove proficiency in the platform, don't make them take/pay for that part of the class - or give that person some additional value for the money they spent. I spent a fair amount of my time helping other students get up to speed so that I could get to what was the "Meat" for me which was their patented method, so in some respects I feel like I paid money to help teach a class. Even with that said I am still VERY HAPPY - but hope they take this suggestion to heart for the future.
Was this review …?