I went to a OTA seminar and decided to sign up for a 7 day class that was going to cost $11, 500.
I put down $2000 with the rest due in 3 payments over 90 days.
The seminar was Jan 7th with the class starting on Jan 29th.
On Jan 11th I got a call from my sister that our dad was in need of money or would be losing his house. He is 80 years old on a fixed income so it was a no brainer to cancel the class and use the money for him.
I emailed OTA on the 14th of Jan to say I must cancel the class for this family issue.
No return email by the 18th so I called them. My future mentor answered and I told him situation saying i wouldn't mind taking the 3 day portion of the class for $2000 or just by the DVD's given to me at seminar with signup for $499.
The mentor said I could not take just 3 days and was trying to get me to finance the remaining amount longer term, which I do not want to do. He told me he would talk to his manager and contact me.
On the 20th still no answer so I sent an email to the CEO John O'Donnell and also an accountant manager in Irvine, CA. Got no response by anybody so on the evening of the 21st I boxed up the unopened DVD's, my welcome package, and some trading software, then shipped it to OTA.
On the 22nd I called my credit card company to cancel the auto payments and to put a dispute in for the $2000.
This is where I am at so far. I will give updates as the story unfolds.
All I know is that I gave over two weeks cancellation notice with good reason. If OTA does not have the decency to give me a refund without argument then I will be very disappointed and get a hold of my lawyer.
To be continued.

Online Trading Academy

In rebuttal to the glowing report from another person, this is obviously a company employee.

I attended their 5 hour freebie session as a result of a card they sent to my postal mail. Basically, they are trying to upsell you to between $5, 000 to $24, 000 to as much as $64, 000 worth of courses and products.

For example, they are offering 4 base classes (futures, stocks, etc.) of 7 days each for something like $4-$6, 000. The list of things learned "under the of their master traders" include "gap analysis" and technical patterns like wedges and other TA related things. It has been thoroughly established in many dozens of studies, that this stuff has almost no value, ESPECIALLY after factoring in commissions, fees, risk, and other things. (I am sure they will profer a study to support them, but when ALL major studies are considered, this is not the reality). Some studies that seem positive for TA are often hampered by things called data-snopping. Also, they do not discuss standard trading statistics such as drawdown or Sharpe. A serious trader knows it is all about Risk-Reward

The company offers no proof, no audited returns, or evidence that their stuff actually works. You will get the standard testimonials (notice you never hear from the UNhappy customers!), hinting at making 10-15% per month and, without actually saying they will help you get rich.

I have traded for a very long time. The stuff contained in their courses is available in hundreds of technical analysis books or sites. And it has little. This is NOT how the major institutions make money, and if it NOT how most small traders will make money. Trading is a mind-numbingly difficult process to master.

Regardless of how much this company shills for themselves, the basic fact is that for almost everyone who relies on the concepts covered in this course, the overwhelming likelihood is you will likely have lost or broken even.