Mike Baghdady - should I take a course or not?

[pboyles]

Mr Baghdady’s chapter 11
Prior to Trading Traders existence Mr Baghdady entered into court action in the USA against a broker following mistakes resulting in wrongful liquidation in his account. After 12 years of litigation and despite the broker admitting to the mistakes in court, the court found for the broker as there was no malice. In mid 2010 Mr Baghdady was ordered to pay the brokers legal fees. Mr Baghdady then filed for the Chapter 11 in order to protect his assets during the financial settlement with the broker (standard practice in the US). Less than 90 days later once the settlement was agreed Mr Baghdady withdrew the Chapter 11. This case is closed (see attached word doc).

.

Actually could you clarify if he was forced to repay the trading losses he incurred plus legal costs. That was my understanding, I could go back and read the judgement again but perhaps you can clarify. I recall that he had a margin call, couldn't cover it and had his positions liquidated. He sued Robbins but they counter sued and won.

Regarding the misleading advertising are you saying that it was a mistake to have company employees appear on a TV advert pretending to be professionals trained by Mike? I wont even go into the world champion claims.

Do you realise that until the false advertising was exposed nobody was criticising your company? In fact to date only a few people have criticised the training, your troubles are all the result of this dishonesty. Sadly TT have taken the public for fools and it has come back to bite them.

 

[the hare]

We have the confidence in our training to take a group of people and fund their trading based on the methodology we teach. This does attract criticism as no other training company has the confidence or backing to be able to do this..

Surely, there a number of prop firms who offer a similar arrangement. Most of the critisism that I've seen has been aimed fairly and squarely at the false claims made by Mr Baghdaddy.

For example, claiming to be "world trading champion" when no such event or title exists, and worse still, his amateur attempts to repeatedly attempt to promote that myth in various trading related forums. The fraudulent TV ad is another prime example.

Mr Baghdaddy and t2w have justifiably been critisied for their removal of public domain information concerning your co-director.

Its not particularly the method thats being critisised, its the discrepancies between Mr Baghdaddys claims and reality.

 

[safvan]

Mike is not a complete fraud but he does make fool of people that are new to the world of trading. What he teaches is available for free all over the internet. It is basically buying on breakouts of range...pretty standard stuff. I am a former course taker who lost $5k to this person.

Thing is people feel cheated once they realize that they wasted $5,000 for something that was available for free. I was new to trading. Mike took my money. I feel cheated by this douche but its Okay I have learnt my lesson.

He technically is not breaking any laws as such other than claiming what he isnt which is he is not a millionaire, deeply in debt, trading champion (you think larry williams is? lol)

People just feel ashamed of admitting that they were made a fool off so badly and that is the main reason you do not see a lot coming out and posting about it.

Trading cannot be learnt in 5 days. You cannot become a doctor in 5 days.

Is he a cheat who charges for free stuff? Perhaps yes but then come on he is no better than 10s of forex dealing desks who trade against your positions.

I do not think he is living a content life with all the negative karma against him. Sooner or later it will catch like it has in the past with his other ventures.

What I really wanted to say that these so called turtles should stop wasting their "precious" time trading demo accounts which I am sure they are working on now days.

Stop trading demo accounts for this man and get out and find a real desk job in a professional prop or trading firm.

He will probably still be in business 10 years from now but you should not be wasting your precious career time on this. You all have bills to pay.

 

[Kruger9]

Surely, there a number of prop firms who offer a similar arrangement. Most of the critisism that I've seen has been aimed fairly and squarely at the false claims made by Mr Baghdaddy.

For example, claiming to be "world trading champion" when no such event or title exists, and worse still, his amateur attempts to repeatedly attempt to promote that myth in various trading related forums. The fraudulent TV ad is another prime example.

Mr Baghdaddy and t2w have justifiably been critisied for their removal of public domain information concerning your co-director.

Its not particularly the method thats being critisised, its the discrepancies between Mr Baghdaddys claims and reality.

I have noticed that on the front page of T2W there is a store section selling alsorts of courses software etc. Pboyles you dont seem to slag off these courses but you do slag of not only TT but others as well hence your posts close to 5000.
coincidence?????????????????? dont believe in them.
Ive done the course paid my money and am quiet happy with the results.
Its not hard to work out that ex employees have come to this website to jump on your bangwagon.
Please feel free to come to TT`s offices with the ex employees and anyone else and see what goes on. For those of you that are reading this and are thinking about taking a course and have been put of by this pile of bull dont be put off. Go to the office for a day and talk to the grads who sit in the office and get their honest opinion.
Ive met jpower and Tutu and find them honest and helpful people.
The sessions that Mike does on a Sunday and the mentoring during the week by others is all great value.
Im not an employee of TT but find this slagging off just a bit strong.
As I said visit the office and see for yourself. Digby, Boyles, hare im not going to get into a tit for tat with you 3 as I really dont have the time or patience to waste it on shallow individuals as yourselfs.
Mike and the rest at TT thanks for all youve done so far and all the help I know you will give in the future

S

 

[pboyles]

Turtles
They are still here, a few of them are gainfully making money, most of the rest are even and couple are in negative territory. This is the normal life of a trader, keep in mind they started trading in the tough market conditions of the USA crash and the Euro problems.

s.

No offence Malcolm but youre talking nonsense, the US market has not crashed since September 2011. Attached is a chart to prove it.

 

[pboyles]

I have noticed that on the front page of T2W there is a store section selling alsorts of courses software etc. Pboyles you dont seem to slag off these courses but you do slag of not only TT but others as well hence your posts close to 5000.
coincidence?????????????????? dont believe in them.
Ive done the course paid my money and am quiet happy with the results.
Its not hard to work out that ex employees have come to this website to jump on your bangwagon.
Please feel free to come to TT`s offices with the ex employees and anyone else and see what goes on. For those of you that are reading this and are thinking about taking a course and have been put of by this pile of bull dont be put off. Go to the office for a day and talk to the grads who sit in the office and get their honest opinion.
Ive met jpower and Tutu and find them honest and helpful people.
The sessions that Mike does on a Sunday and the mentoring during the week by others is all great value.
Im not an employee of TT but find this slagging off just a bit strong.
As I said visit the office and see for yourself. Digby, Boyles, hare im not going to get into a tit for tat with you 3 as I really dont have the time or patience to waste it on shallow individuals as yourselfs.
Mike and the rest at TT thanks for all youve done so far and all the help I know you will give in the future

S

I dont slag them off? I think you might have jumped to conclusions there. Let me get a few examples for you, I shall post them in half an hour.

 

[pboyles]

I dont slag them off? I think you might have jumped to conclusions there. Let me get a few examples for you, I shall post them in half an hour.

Here's one

http://www.trade2win.com/boards/trading-firm/73256-anyone-heard-savi-trading.html

 

[pboyles]

Here's one

http://www.trade2win.com/boards/trading-firm/73256-anyone-heard-savi-trading.html

and heres another, this guy appears on the front page of T2W and has contributed to the T2W book.

http://www.trade2win.com/boards/fir...illuminati-trading-system-35.html#post1610562

Do I really have to go on?

 

[NewTurtleTraderTutu]

Hi all,

I'm new to the forum, so just wanted to introduce myself.

My name is Tutu and I'm one of the lucky turtles that got chosen from over 10,000 applicants to learn to trade alongside Mike and his team. After reading the comments on this site, I felt extremely compelled to address the false things that have been stated in this forum.

A little about me, I applied for the turtle programme like everybody else and had zero trading experience before embarking on the training programme. Prior to becoming a turtle I was working in HR. In the last 6 months that I have been at Training Traders- Mike Baghdady and his team have been instrumental in my development and learning and can honestly say Mikes passion for trading is unrivalled. Over the 6 months that we have all been with mike, he has taught us everything he knows regarding price behaviour, trading technically, mastering our own pychology, dealing with losses, being consistent... the list of my new found knowledge goes on.. And soon, we will be undertaking Mike's Option trading course.

Mike is in this office with us everyday from 7 am, he has funded our trading accounts, we have undertaken his long term and short term trading course, we have been given use to Mike's trading software- the software really helps to filter trades to increase probability and plus the software has a built in radar screen which really helps to prioritise instruments to those which are moving- so focus attention when day trading to those trades which are most likely to make ££. Long term plan is for us who succeed to become hedge fund managers.

We have sat the same course that members of the general public have sat and like anybody who takes the course we are able to re-take the course as many times as we want and need-which is especially usefully when learning. In addition to this, we have a weekly 2 hour forex trade planning session every sunday evening alongside members of the public that have paid for the course, whereby Mike discusses the markets and plans trades for the week ahead. During the two our online trade planning session Mike discusses points to go long, points to go short, and stop placement and answers all questions. Plus every morning and afternoon, we have trade planning session whereby we look at key pairs that are closest to entry points and Mike and Ben (the other head Trader) also takes trades alongside members.

In addition to this- every monday we have a long term trade planning session- again, alongside members of the public, discussing trade set-up, technical entry points, and gain an understanding of market fundamentals.

Somebody made a comment about mike's system not work.. I can catergorically say that is factual highly inaccurate.. we have two approaches to trading.. taking long term positions and day trading. As a group of turles we have intially focusing on long term positions and as a group have a mixed set of results, some are up more than other, but even with losses with the system that we trade- u soon get to love small losses.. plus loosing trades are the cost of doing business. And it would be a very pointless exercise for Mike to top up the accounts of 15 individuals to trade a system that supposedly 'doesn't work'. Plus there is no other trading school that has offered anybody the opportunity to learn to trade for FREE plus the opportunity to manage a fund in the future.. I personally thinks this speaks volumes about the great intentions of Mike and the superior trading system that we use.

After reading all the inaccuracies' and lies on this forum I felt compelled to respond. Mike operates in a very open and transparent way, and has been extremely honest with us and has many satisfied traders who have taken the course and now trade on the trading floor along us and Mike. Mike welcomes all visitors to his office and meets with all traders personally to answers any questions before they sign up for the course. So if you want the facts from somebody who is actually trading alongside Mike than please feel free to direct any question to me. Or why not pop into the office and meet us and Mike and find out the real facts.

One last thing- a few weeks ago we had the pleasure of meeting one of the most successful original turtles traders- Curtis Faith, He came to visit us at the office and discussed his experiences during the original programme.. I guess like most people, Curtis and Mike are driven by a need to leave the world a better place for having been here. Cutis had been lucky at times and have been helped by some amazing people along the way, same with Mike.. and with this turtle programme and his dedication to teaching is Mike's way of giving back.. Lucky moi )

Tutu

 

[pboyles]

Plus there is no other trading school that has offered anybody the opportunity to learn to trade for FREE plus the opportunity to manage a fund in the future.. I personally thinks this speaks volumes about the great intentions of Mike and the superior trading system that we use.

I'm afraid this shows how little you know, Futex and Schneiders both have programs that take graduates and train them. I'm sure there are plenty of others but those two spring to mind.

 

[the hare]

I'm afraid this shows how little you know, Futex and Schneiders both have programs that take graduates and train them. I'm sure there are plenty of others but those two spring to mind.

I think you have to be at least sentient to be considered at those places.

 

[safvan]

Hi all,

I'm new to the forum, so just wanted to introduce myself.

My name is Tutu and I'm one of the lucky turtles that got chosen from over 10,000 applicants to learn to trade alongside Mike and his team. After reading the comments on this site, I felt extremely compelled to address the false things that have been stated in this forum.

A little about me, I applied for the turtle programme like everybody else and had zero trading experience before embarking on the training programme. Prior to becoming a turtle I was working in HR. In the last 6 months that I have been at Training Traders- Mike Baghdady and his team have been instrumental in my development and learning and can honestly say Mikes passion for trading is unrivalled. Over the 6 months that we have all been with mike, he has taught us everything he knows regarding price behaviour, trading technically, mastering our own pychology, dealing with losses, being consistent... the list of my new found knowledge goes on.. And soon, we will be undertaking Mike's Option trading course.

Mike is in this office with us everyday from 7 am, he has funded our trading accounts, we have undertaken his long term and short term trading course, we have been given use to Mike's trading software- the software really helps to filter trades to increase probability and plus the software has a built in radar screen which really helps to prioritise instruments to those which are moving- so focus attention when day trading to those trades which are most likely to make ££. Long term plan is for us who succeed to become hedge fund managers.

We have sat the same course that members of the general public have sat and like anybody who takes the course we are able to re-take the course as many times as we want and need-which is especially usefully when learning. In addition to this, we have a weekly 2 hour forex trade planning session every sunday evening alongside members of the public that have paid for the course, whereby Mike discusses the markets and plans trades for the week ahead. During the two our online trade planning session Mike discusses points to go long, points to go short, and stop placement and answers all questions. Plus every morning and afternoon, we have trade planning session whereby we look at key pairs that are closest to entry points and Mike and Ben (the other head Trader) also takes trades alongside members.

In addition to this- every monday we have a long term trade planning session- again, alongside members of the public, discussing trade set-up, technical entry points, and gain an understanding of market fundamentals.

Somebody made a comment about mike's system not work.. I can catergorically say that is factual highly inaccurate.. we have two approaches to trading.. taking long term positions and day trading. As a group of turles we have intially focusing on long term positions and as a group have a mixed set of results, some are up more than other, but even with losses with the system that we trade- u soon get to love small losses.. plus loosing trades are the cost of doing business. And it would be a very pointless exercise for Mike to top up the accounts of 15 individuals to trade a system that supposedly 'doesn't work'. Plus there is no other trading school that has offered anybody the opportunity to learn to trade for FREE plus the opportunity to manage a fund in the future.. I personally thinks this speaks volumes about the great intentions of Mike and the superior trading system that we use.

After reading all the inaccuracies' and lies on this forum I felt compelled to respond. Mike operates in a very open and transparent way, and has been extremely honest with us and has many satisfied traders who have taken the course and now trade on the trading floor along us and Mike. Mike welcomes all visitors to his office and meets with all traders personally to answers any questions before they sign up for the course. So if you want the facts from somebody who is actually trading alongside Mike than please feel free to direct any question to me. Or why not pop into the office and meet us and Mike and find out the real facts.

One last thing- a few weeks ago we had the pleasure of meeting one of the most successful original turtles traders- Curtis Faith, He came to visit us at the office and discussed his experiences during the original programme.. I guess like most people, Curtis and Mike are driven by a need to leave the world a better place for having been here. Cutis had been lucky at times and have been helped by some amazing people along the way, same with Mike.. and with this turtle programme and his dedication to teaching is Mike's way of giving back.. Lucky moi )

Tutu

If you are really what you say you are and not a paid employee of this outfit or even Mike himself...you should really focus on getting yourself a proper career if you really want to trade for a living at some point.

If you are a paid employee then you have been trained well in the art of marketing. You should quite TT and form your own company to scam people on the internet. There is a sucker born every second is an old term. With the population growth there are 1000 suckers born every second.

You are wasting time in both cases above. Get a real trading job elsewhere or a marketing career. You will actually start earning money which is the whole point of it isnt it?

 

[pboyles]

Actually could you clarify if he was forced to repay the trading losses he incurred plus legal costs. That was my understanding, I could go back and read the judgement again but perhaps you can clarify. I recall that he had a margin call, couldn't cover it and had his positions liquidated. He sued Robbins but they counter sued and won.

Regarding the misleading advertising are you saying that it was a mistake to have company employees appear on a TV advert pretending to be professionals trained by Mike? I wont even go into the world champion claims.

Do you realise that until the false advertising was exposed nobody was criticising your company? In fact to date only a few people have criticised the training, your troubles are all the result of this dishonesty. Sadly TT have taken the public for fools and it has come back to bite them.

It seems Malcolm has decided not to respond so I've gone back and looked at the court documents again. The case dates from 1997 and Robbins Futures alleged breach of contract, common law fraud and common law fraud/wilful and wanton conduct. The court found in favour of Robbins on all three counts. Attorney fees amounted to $205,000 and the total judgement is around $350,000. The case is summarised on the following websites.

The Trusty Servant : Turtle traders

Document 385 :: Baghdady v. Robbins Futures Inc, et al :: 1:1997cv08794 :: Illinois Northern District Court :: US Federal District Courts Cases :: Justia

 

[Kruger9]

Here's one

http://www.trade2win.com/boards/trading-firm/73256-anyone-heard-savi-trading.html

Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Savi Trading have a chartered accountant as their Chief Financial Officer, at least according to their website. How they manage to end up getting a first gazette for late returns is a bit of a mystery to say the least.

Im not sure the accounts are the main issue, they did mislead us in saying that CH had made a mistake when clearly they did not. I'm wondering who would want to give them a load of money for either training or prop when they don't seem to be able to keep on top of their accounting. Add in a bit of, let's say, being economical with the truth and it doesn't paint a very good picture.

I'm also not sure why someone who admits to having a multinic is a very good person to have speaking up for you.

How about you all just tell the truth and have done with it?



Aug 13, 2011, 1:41pm #77
pboyles
Legendary Member




Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Quote:
Originally Posted by ajasio1
There is alot of back biting going on about Savi trading...maybe its true, maybe not, but can anyone tell me which courses are good to do, free or otherwise and if anyone has been on course withi Savi or any other, to then comment on the quality of the training they have received pls?

There's no maybes, a first gazette was issued to strike them off due to them not filing accounts, the action is temporarily suspended. The links to the gazette etc are all in previous posts.


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Aug 13, 2011, 2:20pm #78
meruntox
Rookie Member




Member Since Aug 2011
5 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Quote:
Originally Posted by Black Swan
Yep sure, it's called the t2w course, spend a couple of years on 'ere, click on everything, every link, visit every other site recommended, listen to every bit of advice, (don't take it on board necessarily, but listen to it), it costs nothing but a lot of time and mental energy..

These course spivs just want you money, if they were honest they'd know and tell you that you have no chance of becoming a match hardened trader inside months given it takes a couple of years to become proficient leading to (hopefully) profitability and they cant even set you on the right path given it's a highly personal path of discovery..

Keep you hands in your pockets, other than to fund your account, the first one of which should be no more than 500 quid.

Thanks for this Black swan

This is my first day on here and I have read various threads over the past couple of hours. My 'introduction' included the question of "how do I get into trading" and also where/how to go about this.

Let me just say I'm glad to have read this thread, especially as Savvi flagged up on one of my searches yesterday!

Good advice for now, but in the meantime if anyone has any suggestions with regards to how an ex fire fighter can go about becoming a full time trader, then please let me know! In the mean time I'll study T2W.... and read more. Lots more




Aug 13, 2011, 2:34pm #79
pboyles
Legendary Member




Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

just one paged i click on need i say more
As I said not gonna get into tit for tat but im sure there are plenty of other courses you give a hardtime except for the ones advertised on T2W
Good night god bless
and all those from TT heres to a good money day tomorrow

S

 

[WhichWayNow]

I'm afraid this shows how little you know, Futex and Schneiders both have programs that take graduates and train them. I'm sure there are plenty of others but those two spring to mind.

I just checked those companies one you have to pay for a course and the other you get kicked out after 4 weeks unless you are making them money. Really pboyles do you have a clue what you are on about. I also checked an earlier post claiming that you favour products and companies linked to this site and I have to say I agree.

As I first mentioned I am new and looking for advice and I find myself getting advice from anonmous people I have no clue who they are or their background. I am a fool.

A company director and people linked to Training Traders have identified themselves. I think its time you and Digbyarbuthnot identify yourselves and identify any trading links you have or do you have something to hide. Basically if you want us to take you seriously, Put up or Shut up !

 

[pboyles]

Schneiders and Futex have graduate program's where they do not charge. I believe one of them also has a course you can pay 7k for. Their success rate is very low, well under 10% yet you think Baghdady can make you all millionaires.

Regarding you allegation about me favouring site sponsors I shall leave it to a moderator to explain to you how many of my posts have been deleted for criticising site sponsors. You might want to check what I said about FXCM being fined. They were the T2W preferred broker at the time.

 

[pboyles]

So Barjon speak up, which site sponsors do I support.

 

[pboyles]

Are you talking about the T2W course?

Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Savi Trading have a chartered accountant as their Chief Financial Officer, at least according to their website. How they manage to end up getting a first gazette for late returns is a bit of a mystery to say the least.

Im not sure the accounts are the main issue, they did mislead us in saying that CH had made a mistake when clearly they did not. I'm wondering who would want to give them a load of money for either training or prop when they don't seem to be able to keep on top of their accounting. Add in a bit of, let's say, being economical with the truth and it doesn't paint a very good picture.

I'm also not sure why someone who admits to having a multinic is a very good person to have speaking up for you.

How about you all just tell the truth and have done with it?



Aug 13, 2011, 1:41pm #77
pboyles
Legendary Member




Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Quote:
Originally Posted by ajasio1
There is alot of back biting going on about Savi trading...maybe its true, maybe not, but can anyone tell me which courses are good to do, free or otherwise and if anyone has been on course withi Savi or any other, to then comment on the quality of the training they have received pls?

There's no maybes, a first gazette was issued to strike them off due to them not filing accounts, the action is temporarily suspended. The links to the gazette etc are all in previous posts.


pboyles
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Aug 13, 2011, 2:20pm #78
meruntox
Rookie Member




Member Since Aug 2011
5 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

Quote:
Originally Posted by Black Swan
Yep sure, it's called the t2w course, spend a couple of years on 'ere, click on everything, every link, visit every other site recommended, listen to every bit of advice, (don't take it on board necessarily, but listen to it), it costs nothing but a lot of time and mental energy..

These course spivs just want you money, if they were honest they'd know and tell you that you have no chance of becoming a match hardened trader inside months given it takes a couple of years to become proficient leading to (hopefully) profitability and they cant even set you on the right path given it's a highly personal path of discovery..

Keep you hands in your pockets, other than to fund your account, the first one of which should be no more than 500 quid.

Thanks for this Black swan

This is my first day on here and I have read various threads over the past couple of hours. My 'introduction' included the question of "how do I get into trading" and also where/how to go about this.

Let me just say I'm glad to have read this thread, especially as Savvi flagged up on one of my searches yesterday!

Good advice for now, but in the meantime if anyone has any suggestions with regards to how an ex fire fighter can go about becoming a full time trader, then please let me know! In the mean time I'll study T2W.... and read more. Lots more




Aug 13, 2011, 2:34pm #79
pboyles
Legendary Member




Member Since Oct 2006
5,009 Posts Re: Anyone heard of Savi Trading?

--------------------------------------------------------------------------------

just one paged i click on need i say more
As I said not gonna get into tit for tat but im sure there are plenty of other courses you give a hardtime except for the ones advertised on T2W
Good night god bless
and all those from TT heres to a good money day tomorrow

S

 

[wackypete2]

So now the Baghdady followers are telling pboyles,et al, to pick on someone else?? Desperation at its finest.

This whole thread has become laughable. 1 side posts links, documents, pics defending their stance. The other side doesn't address any of those but just cheerleads and is woefully underinformed about side 1.

That's my take.

Peter

 

[WhichWayNow]

So now the Baghdady followers are telling pboyles,et al, to pick on someone else?? Desperation at its finest.

This whole thread has become laughable. 1 side posts links, documents, pics defending their stance. The other side doesn't address any of those but just cheerleads and is woefully underinformed about side 1.

That's my take.

Peter

I think you are missing the point, myself I am not supporting Baghdady I am questioning the legitmacy of pboyles. I am certainly not advocating him picking on any other company or person. Someone who hides behind an anonymous handle could be anyone from any company trying to slate competitors.

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