Mike Baghdady - should I take a course or not?

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Digbyarbuthnot

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Hi Everyone,

I've been trading for the last few years and invested a lot of time in reading books and trying out various methods. Overall, I'm still pretty flat, which is not too bad, but neither is it great! I've decided to bite the bullet and take a course. I know that you guys are rather vitriolic about most trainers, but trawling through all the online offerings, I'm more confused than ever. I discounted a load of people but did attend a workshop with Mike Baghdady at Training Traders. What a bizarre set up! His office is a shabby unkempt flea-pit down a side alley. The office was a shambles inside - very dirty, very soul-less and definitely not somewhere I felt comfortable spending my money. My student flat was nicer than Mike Baghdady's office so the prospect of paying him £5,000 is a joke! So, after all the time procrastinating about spending the money to do a course, I was wondering if anyone can help me out with recommendations and save me wasting my time with people like Mike Baghdady. I tried to do a search for him on this website but I found lots of references to the fact that he likes litigation. Also, on the New Turtle Traders Facebook page, someone requested an update at the beginning of the year but the silence from Training Traders was rather telling. Does this mean that his system doesn't work and Mr Baghdady is running scared of telling people? I'm sure we would be bombarded with daily updates if the turtles were making money using his system. Anyway, I 'd appreciate your thoughts and any guidance on Mike Baghdady please
 
I've attended his presentation at a traders' event (it's Excel - place near London City Airport).

I would say he is a momentum trader - if the price goes down he sells and vice versa. There were quite a few attendees interested in presentation and also there was a small competition where one could use his system and the most successful demo trader was given a small reward - an interesting experience.
 
ZEN archer said:
There were quite a few attendees interested in presentation and also there was a small competition where one could use his system and the most successful demo trader was given a small reward - an interesting experience.
Click to expand...

What a fantastic marketing tool, the guys much smarter than I give him credit for.

Just out of curiosity, did MB take part in the competition ?
 
the hare said:
What a fantastic marketing tool, the guys much smarter than I give him credit for.

Just out of curiosity, did MB take part in the competition ?
Click to expand...

I wouldn't know - I didn't take part in the competition (trying to avoid giving contact details).

His presentation was ok - most of it. So far as I can remember he doesn't like using dojis and other candle patterns which is a mistake IMO.
 
Digbyarbuthnot said:
Hi Everyone,

I've been trading for the last few years and invested a lot of time in reading books and trying out various methods. Overall, I'm still pretty flat, which is not too bad, but neither is it great! I've decided to bite the bullet and take a course. I know that you guys are rather vitriolic about most trainers, but trawling through all the online offerings, I'm more confused than ever. I discounted a load of people but did attend a workshop with Mike Baghdady at Training Traders. What a bizarre set up! His office is a shabby unkempt flea-pit down a side alley. The office was a shambles inside - very dirty, very soul-less and definitely not somewhere I felt comfortable spending my money. My student flat was nicer than Mike Baghdady's office so the prospect of paying him £5,000 is a joke! So, after all the time procrastinating about spending the money to do a course, I was wondering if anyone can help me out with recommendations and save me wasting my time with people like Mike Baghdady. I tried to do a search for him on this website but I found lots of references to the fact that he likes litigation. Also, on the New Turtle Traders Facebook page, someone requested an update at the beginning of the year but the silence from Training Traders was rather telling. Does this mean that his system doesn't work and Mr Baghdady is running scared of telling people? I'm sure we would be bombarded with daily updates if the turtles were making money using his system. Anyway, I 'd appreciate your thoughts and any guidance on Mike Baghdady please
Click to expand...


I don't know how much stuff you have read as he keeps taking legal action to get the forums to remove any information about him. In short yes he claimed to be world champion but that was a lie. He also filed for bankruptcy whilst simultaneously claiming to be a millionaire trader. Court documents showed he made no income from trading, just training fees. Oh and he still owes a load of money for student fees from the late 90s.

Mind you the rest of them aren't much better. They just tell fewer lies about themselves, or at least don't get caught so easily.
 
Interesting stuff. Two files here showing his Chapetr 11 details.
Seems funny to me (if it were not so serious) that a guy that claims to be the worlds leading expert on price behaviour trading, still owes a student loan from 1999 - and admits it!

Anyone got evidence that he still trades or is it an illusion from the far and distant past?
 

Attachments

  • bagdaddy.pdf
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  • nyeb10-45547.pdf
    260.6 KB · Views: 1,482
If you want to see more then go to the babypips forum. I got these documents from there along with lots of other stuff.
Just search for baghdady.
 
pipsplease said:
Interesting stuff. Two files here showing his Chapetr 11 details.
Seems funny to me (if it were not so serious) that a guy that claims to be the worlds leading expert on price behaviour trading, still owes a student loan from 1999 - and admits it!

Anyone got evidence that he still trades or is it an illusion from the far and distant past?
Click to expand...

No one actually sees him trade. It's called an optical delusion.

Peter
 
pipsplease said:
Interesting stuff. Two files here showing his Chapetr 11 details.
Seems funny to me (if it were not so serious) that a guy that claims to be the worlds leading expert on price behaviour trading, still owes a student loan from 1999 - and admits it!

Anyone got evidence that he still trades or is it an illusion from the far and distant past?
Click to expand...

His bankruptcy filing relates to serious losses that he sustained trading. Robbins Futures have been taking him to court for years to try to get him to pay up. I think its in the hundreds of thousands, he sued them, they counter sued and won. Anyhow it was all posted here but then deleted, like you say some of it is now in babypips and FF.
 
pipsplease said:
Interesting stuff. Two files here showing his Chapetr 11 details.
Seems funny to me (if it were not so serious) that a guy that claims to be the worlds leading expert on price behaviour trading, still owes a student loan from 1999 - and admits it!

Anyone got evidence that he still trades or is it an illusion from the far and distant past?
Click to expand...

Maybe it's only a temporary drawdown after some trades went pear shaped?

BTW that's a nice income from teaching.
 
I'm told by someone who attended that Mike Baghdady from Training Traders was hosting a live webinar on FXStreet.com on Friday. He was proudly showing photos of Curtis Faith (one of the original Turtles from the 1980's) visiting his offices and talking with his own widely publicised Turtles. Some of the attendees were asking if his people were profitable with all the daily mentoring they were getting from him.
Baghdady replied that "they are all doing well". Funny how we have heard nothing in the last few months given all the publicity he generated when starting.
Makes you wonder - eh???????

Just like Secker - where is the evidence???????
 
You know Pboyles you make me laugh!

You expose these people, say their courses aren't any good and use negative words, but do you trade successfully?

You expose companies for having lied on their website or scam companies, yet you are in the very same industry.

There are no nicety in trading, I have never met an honest trader, trading is built on one core concept... Making money for SELF! You want to be a successful trader, but you put down everyone in the industry.

So why do you persist at exposing people in the same sector as yourself? Is it because your bored at home, because you are an unsuccessful trader or because this forum gives you a chance to escape the harsh realities of the real world in which you live. Where your only 'real' friend in this world are people with whom you have never met! If you want my advice, before you reach 5,000 go outside and enjoy the fresh air. Start thinking about your life.. make some friends in the real world, get a girlfriend, loose some weight and most of all stop spreading your negative views on the forums.
 
It appears that on the Mike Baghdadys Training Traders Turtles Facebook page (what a mouthful) several people have asked for an update on how the turtle trading is going.
Whats the response from Mike baghdady - silence!!!!!!!!!!!

He was quick to get all the free publicity he could when it started and promised the world he would keep updating. On the New Turtle Traders Facebook page - nothing - even when some of the members ask for an update.

Now do you think Baghdady has gone shy or something? Or could there be another problem - performance????
Makes you wonder!
 
Hi Eric

I understand where you're coming from but concerned by the level of bile you're sprewing. To be honest, I have been saved £5,000 by PBoyles and others on this forum. Not only that, I've found out a whole ton of information about Mike Baghdady that has confirmed my suspect impression about him having been to his office and meeting him. Not only saved me money but a lot of wasted effort.

I think anyone exposing bad practise and dishonest people offering courses should be applauded, regardless of their own trading history. I wouldn't expect Jeremy Paxman to be the best politician but I'd trust his judgement in telling me who are the politicians to trust, the young chap who presents Football Focus might not be the best footballer but he can tell me about football....

Being honest is better than claiming to be the world champion trader like Mike Bagdady does.

I thank you PBoyles for your honesty, regardless of your trading history.

Digby
 
EricReed said:
You know Pboyles you make me laugh!


So why do you persist at exposing people in the same sector as yourself? Is it because your bored at home, because you are an unsuccessful trader or because this forum gives you a chance to escape the harsh realities of the real world in which you live. Where your only 'real' friend in this world are people with whom you have never met! If you want my advice, before you reach 5,000 go outside and enjoy the fresh air. Start thinking about your life.. make some friends in the real world, get a girlfriend, loose some weight and most of all stop spreading your negative views on the forums.
Click to expand...

So it's ok for you to 'expose' me as being unsuccessful, fat, single, friendless, boring and nearing 5000 posts?

OK, maybe a bit fat but the rest is out of order.
 
pboyles said:
So it's ok for you to 'expose' me as being unsuccessful, fat, single, friendless, boring and nearing 5000 posts?

OK, maybe a bit fat but the rest is out of order.
Click to expand...

Perhaps Mike Baghdady will be selling weight-loss products next?! LOL
 
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