Speaking of dodgy operators and money this is truly shocking.
http://dl.dropbox.com/u/15517822/Screen shot 2012-05-30 at 11.02.33 PM.png
http://dl.dropbox.com/u/15517822/Screen shot 2012-05-30 at 11.02.33 PM.png
Mike Baghdady - should I take a course or not?
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Mike Kshemaraja
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I do not know what this Mike Baghdady does , but surely he is getting a lot of exposer from this forum.
alphadude
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Mike
Baghdady (aka BallsPoopy) has balls of steel. He dicovered that you can do anything if you are brave enough.
He even turned the table and got employees to pay him 50k to join his firm. He lost big time in trading comprtitions but claimed to have won them
The man is genius. He got housewives defending him in this forum. Even got his own mother to write him a will.
The list goes on.
Mike Kshemaraja
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I see.
In my humble opinion, I do not think trading can be taught, it needs to be learnt, like you cannot teach people how to make love, because in both activities we need to bring ourselves and our expressions into play to be able to enjoy/gain from it.
My point remains the same, does this Mike Baghdady need all this attention?
the hare
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No he does not, and he's probably very frustrated and angry.
This thread shows:
that he's previously been found guilty of common law fraud
that he's deliberately lied and decieved others
that he's filed for bankrupcy on multiple occassions due to trading losses.
The thread also shows that he has little or no understanding of risk.
It also illustrates that he, and his key members of staff have the most appalling track record when it comes to running their businesses.
The sad truth is that the majority of people who pay the likes of Mr Baghdady simply cant be helped, and they'll pay him regardless of whatever truth emerges. However, if this thread deters just one person, it will have been worth the effort, and of course, it was worth doing 4 teh lulz.
pboyles complint to the ASA has without a doubt saved many from falling victim to this nonsense. The combined actions of the t2w lulzers prevented MB from preying on others over at fx street, and I sincerely hope that he'll be greeted with similar action the next time he pops up to prey on others elsewhere.
I've been involved in some dodgy **** in my time, and I've operated on the fringes of the law for most of my life, but I've never seen anything as immoral or as dishonest as the retail trading business. MB is operating at the unscrupulous end of what already is a dirty business, and he needs to be stopped.
tar
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That's great
kudos to u guys , but i wouldn't be surprised if i discovered that this thread did brought him more clients than the one he lost , people can be morons and irrational when it comes to money , everyone wants to make money :|
Mike Kshemaraja
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Yes, because it is a fertile ground. We just need to look at the nature and psychology of the participants. Get rich quick by learning a few set ups or reading a few books and here we go driving our new red Lamborghini in the hills of Montecarlo. That illusion makes them blind to see what is right and what is wrong and they are ready to sacrifice everything for that.
I think it is a noble thing trying to protect the weak but sometimes I feel that people get what they deserve.
Mike Baghdady is just a tool, you get rid of him and another Baghdady will surface because is needed.
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the hare
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That's great
That wouldnt surprise me either, but frankly anyone who's stupid enough to read a trading forum for advice deserves everything they have coming to them.
What is relevant is that pboyles stopped his TV advertising campaign, and that certainly helped. We also know that the company had financial diffficulties, and recently someone claiming to be an insider stated that the training side of the business that was supposed to keep the turtles experiment afloat could not sell enough courses to cover the companies overheads. If that is true, its entirely possible that prospective customers where influenced by this thread.
With each passing month more and more factual information about MB comes to light, and for reasons known only to themselves
innocent t2w are allowing that information to be published.
Mike Kshemaraja
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the hare
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I personally am not trying to protect the weak.
Some people clearly dont get what they deserve, for example an elderly blind woman with a leaking roof being robbed of her savings by a rogue builder.
Some people do get what they deserve. A mate of mine for example maxed out a number of credit cards to fund a spread betting account. He raised more funds by re mortgaging his home. Now he has no home, no wife, no kids and no job.
What people need is unbiased information, but sadly the whole industry is geared up to provide misinformation. Although its often not in the sites commercial interests to do so, t2w does provide is a platform where others can post an alternative viewpoint (and occassionally even the truth is allowed, or at least escapes the attention of those charged with surpressing it
).
tar
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That wouldnt surprise me either, but frankly anyone who's stupid enough to read a trading forum for advice deserves everything they have coming to them.
What is relevant is that pboyles stopped his TV advertising campaign, and that certainly helped. We also know that the company had financial diffficulties, and recently someone claiming to be an insider stated that the training side of the business that was supposed to keep the turtles experiment afloat could not sell enough courses to cover the companies overheads. If that is true, its entirely possible that prospective customers where influenced by this thread.
With each passing month more and more factual information about MB comes to light, and for reasons known only to themselves
That's really good carry on , but i want to give u a very simple example : Everyone knows that martingale systems will fall apart at some point , but do traders pay attention to this , no , look at zulutrade and collective2 , when a system is surging higher and higher , all potential subs will join the system regardless if he is averaging down or if he doesn't use any type of SL , and then when the system does crash they will write their angry reviews : "doesn't use SL" "martingale system" "doesn't trade his own money " "you lost my money" "why u open so many trades" "i told you guys don't follow martingale systems !" , well dah it was clear from his trading history , but it is GREED , then they will leave him and join the next hyped martingale system : " you are the best" "stay like this" "please becareful !" "deserve number 1" .... then the same cycle will repeat itself , crash , bad reviews .... and so on , have a look at zulutrade .
Another example is the casino . :cheesy:
Mike Kshemaraja
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I personally am not trying to protect the weak.
Some people clearly dont get what they deserve, for example an elderly blind woman with a leaking roof being robbed of her savings by a rogue builder.
Some people do get what they deserve. A mate of mine for example maxed out a number of credit cards to fund a spread betting account. He raised more funds by re mortgaging his home. Now he has no home, no wife, no kids and no job.
What people need is unbiased information, but sadly the whole industry is geared up to provide misinformation. Although its often not in the sites commercial interests to do so, t2w does provide is a platform where others can post an alternative viewpoint (and occassionally even the truth is allowed, or at least escapes the attention of those charged with surpressing it
I hear you, I hear you mate.
tar
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I am not sure how much investors did lose to MB but they lost millions $ with this guy , a couple of weeks age he was ranked number 1 , and he had 14K followers with 30 Million $ , now he has 10 K followers with 10 Million $ ! his strategy : trade the Cable range during quiet times ! with averaging down and no apparent SL . On the other hand he made a killing from their commissions .
ZuluTrade - Signal Provider Performance - Forex Cruise Control
ZuluTrade - Signal Provider Performance - Forex Cruise Control
tar
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Another new hyped system arising on the horizon , look at the current open positions ! and compare it with the good reviews !! the answer is simple : GREED , he is making money NOW .
ZuluTrade - Signal Provider Performance - 1997MALA
ZuluTrade - Signal Provider Performance - 1997MALA
tar
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He told them i will average down and i will open 30 trades ! they still followed him ! but ...
ZuluTrade - Signal Provider Performance - + Trade often
ZuluTrade - Signal Provider Performance - + Trade often
the hare
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Everyone knows that smoking causes cancer, but they smoke. When someone buy's a packet of cigarettes, there's a health warning on the side, it used to say something like SMOKING WILL KILL YOU and that message was displayed very prominantly.
I have no problem with people being stupid, nor do I have a problem with people smoking, we need the tax revenues.
The issue is providing people with the information required to make their own choices.
If the cigarette manufactures claimed that smoking would improve your health, and spent billions promoting that message, and that message was taught in schools, and 5 year olds where encouraged to smoke as part of a government policy, because the government considered this to be a legitimate way to raise tax, whilst knowing of the health risks is that acceptable.
Under those circumstances, if a handful of scientists posted links in various health related forums, to medical research that proved that smoking killed, and the owners of those forums deleted those links, because they where advertising cigarettes, and promoting cigarettes as healthy, would that be ok ?
Anyone who attended school for more than 12 months should be able to work out why martingales dont work, or why you cant beat the casino's edge. The casino dont deliberately try to mislead punters concerning the house edge. The casinos are selling entertaimnent, combined with the chance that maybe you'll get lucky. There's nothing dishonest about that concept. The casino is not lieing to the punter, they are not over exaggerating the odds of winning.
You can hardly classify anyone following trade calls at zulutrade a trader. They are mug punters, and no different to anyone playing roulette
tar
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And anyone lived in this cruel world will know that if someone asked for your money is most likely a scam :cheesy:
Mike Kshemaraja
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Some good traders like to teach (not for money, he/she does not need) knowing that it cannot be taught but only guided.
It is fecking hard for a retail trader to become successful, it only can happen if pain is felt intensively.
We cannot borrow from others because it needs to be applied and to apply it we need to deal with ourselves, with our human conditions and demons, specially when we are bringing the game to an higher level.
It is fecking hard for a retail trader to become successful, it only can happen if pain is felt intensively.
We cannot borrow from others because it needs to be applied and to apply it we need to deal with ourselves, with our human conditions and demons, specially when we are bringing the game to an higher level.
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