Mike Baghdady - should I take a course or not?

[pipsplease]

I dont know who paid what but how does the total amount paid in by these guys compare to the total amount given to all traders for their accounts? I don't think I'd be terribly shocked if the totals were similar. In other words the few that paid funded the entire program.

I will ask the questions and get the answers.

 

[the hare]

I don't think I'd be terribly shocked if the totals were similar. In other words the few that paid funded the entire program.

I'm sure MB would be happy to answer this question at his next webinar. As he probably wont be trading he'll have plenty of time to address this question.

 

[alphadude]

I'm sure MB would be happy to answer this question at his next webinar. As he probably wont be trading he'll have plenty of time to address this question.

no more webinars on FXStreet; i think he has been kicked out.

Perhaps TT Poopy will be using a new nickname. Am sure he will find a way to raise from the dead.

 

[Alfboy]

MBTWP are in liquidation. They have just lost their legal representation for the pending employment tribunal.
Still there's always TMZF Ltd (Spyglass Trading Solutions) floating about. Maybe they can convince someone to represent them?
Any takers?

 

[H.R.J]

That bodes well for your case matey, but be careful around this forum, as soon as they have finished picking the bones off Baghdady they will remember that you were the head of the sales team and thus quite complicit in what this forum perceives as a great injustice toward many.

Personally I dont think its that big of a drama, but dont be surprised when they come gunning for you.

 

[Alfboy]

After the tribunal I will be happy to answer any questions put forward.

 

[pboyles]

That bodes well for your case matey, but be careful around this forum, as soon as they have finished picking the bones off Baghdady they will remember that you were the head of the sales team and thus quite complicit in what this forum perceives as a great injustice toward many.

Personally I dont think its that big of a drama, but dont be surprised when they come gunning for you.

There's a few people posting now who were deeply involved in making this happen, they've been left alone. I think that would definitely change if they were to set up a new trader training scheme. I hope none of them will try to replicate this scheme, if they do then for sure plenty of people will be connecting them back to Baghdady.

Just get a proper job and don't rip people off, eventually you'll be able to escape from the shadow of the great guru and his dodgy reputation.

 

[pipsplease]

The Turtles

It seems that Baghdady targeted people who had taken his course and asked them to pay to become a turtle. The price started at around £30k and went up to £50k. Some people paid this amount.
Many were targeted. A lot of those approached told him where to put it after he put the cost up. Wise people indeed!

He seems to have wanted to get as many paid turtles as he could in order to cover the bank needed to give £100k to those recruited under the great scam.
I'm told he only had a few paid turtles as the others approached walked away smelling a rat.

This is proof that it was a scam all along and that Baghdady has no integrity or scruples. He set out to scam the ladies and gents recruited from the very start.

If only they had done what was suggested on this forum much earlier - ask Baghdady to show proof of funds.

 

[The Leopard]

The Turtles

It seems that Baghdady targeted people who had taken his course and asked them to pay to become a turtle. The price started at around £30k and went up to £50k. Some people paid this amount.
Many were targeted. A lot of those approached told him where to put it after he put the cost up. Wise people indeed!

He seems to have wanted to get as many paid turtles as he could in order to cover the bank needed to give £100k to those recruited under the great scam.
I'm told he only had a few paid turtles as the others approached walked away smelling a rat.

This is proof that it was a scam all along and that Baghdady has no integrity or scruples. He set out to scam the ladies and gents recruited from the very start.

If only they had done what was suggested on this forum much earlier - ask Baghdady to show proof of funds.

I'm taking a break from the widely-spread madness on this suite of forums, but it's threads like this that make it so hard to leave permanently.

The old (alleged) rogue! Fancy (allegedly) asking people to pay for the privilege! This directly contradicts a number of interviews he gave in the run up to setting up the turtle soup kitchen. He described it in one at least as a job - now, call me old fashioned if you like, but when I were a lad the employer paid you, not t'other way round. Certainly as far as I am aware it was rare to be asked to put up tens of thousands of pounds in order to secure one's position.

The other thing I seem to recall him stating is that it would not cost the applicants anything - old Paymeboobies was going to put up all the folding required. It hardly seems worth pointing out at this stage that Useyourmoneyboobies also said that the turtles would become hedge fund managers!

More and increasingly shocking revelations were promised - if these latest are true, I would say that the promise has been kept in dollops. Even by the standards of trading educators, this episode is simply the eel's hips.

 

[TheBramble]

I'm taking a break from the widely-spread madness on this suite of forums.

I've seen this often before. A poster gets to a nice looking post count and doesn't want to spoil it by making even one more post. I call it Tantric Posting. Especially in this case you old dog you!

I just want to know what the 3rd party is doing? Reading the paper?

 

[ChocolateDigestive]

what's wrong with yah. the zoo needs you. distinct lack of serious traders around here. the more I read here the more I hang my head with some peoples distinct lack of brain power.

I'm taking a break from the widely-spread madness on this suite of forums, but it's threads like this that make it so hard to leave permanently.

The old (alleged) rogue! Fancy (allegedly) asking people to pay for the privilege! This directly contradicts a number of interviews he gave in the run up to setting up the turtle soup kitchen. He described it in one at least as a job - now, call me old fashioned if you like, but when I were a lad the employer paid you, not t'other way round. Certainly as far as I am aware it was rare to be asked to put up tens of thousands of pounds in order to secure one's position.

The other thing I seem to recall him stating is that it would not cost the applicants anything - old Paymeboobies was going to put up all the folding required. It hardly seems worth pointing out at this stage that Useyourmoneyboobies also said that the turtles would become hedge fund managers!

More and increasingly shocking revelations were promised - if these latest are true, I would say that the promise has been kept in dollops. Even by the standards of trading educators, this episode is simply the eel's hips.

 

[pboyles]

The old (alleged) rogue! Fancy (allegedly) asking people to pay for the privilege! This directly contradicts a number of interviews he gave in the run up to setting up the turtle soup kitchen. He described it in one at least as a job.

Here is what he said, "After that we are going to offer them a job as our traders. We are going to fund each person of those ten with about one hundred grand each which they can leverage to a much higher amount. And they will become our hedge fund managers and they will be managing the company fund… the hedge fund for the company. It’s a recruitment and a job application."

Interview with Mike Baghdady (Transcript)

 

[pboyles]

Followed by this

"Presenter: Fantastic. And there’s no cost to enter or anything?

Mike Baghdady: No no zero, nada. This is not a sale, this is a recruitment and there is no financial obligation – zero from anybody."

I dont think nada means 50k in arabic.

 

[The Leopard]

Here is what he said, "After that we are going to offer them a job as our traders. We are going to fund each person of those ten with about one hundred grand each which they can leverage to a much higher amount. And they will become our hedge fund managers and they will be managing the company fund… the hedge fund for the company. It’s a recruitment and a job application."

Interview with Mike Baghdady (Transcript)

Followed by this

"Presenter: Fantastic. And there’s no cost to enter or anything?

Mike Baghdady: No no zero, nada. This is not a sale, this is a recruitment and there is no financial obligation – zero from anybody."

I dont think nada means 50k in arabic.

Ah! Mr Boyles. Welcome back Sir, we have felt your absence keenly. I trust you are well? I trust also that you will be gratified by the unusually large number of people who recommended my post protesting about your banishment.

Here again do you prove your worth. I make airy references, whereas you are positively Gradgrindian - you appreciate as did he that "what [we] want is facts". And you duly supply them.

We are mere butterflies in comparison.

EDIT:

Oh, and I nearly p1ssed myself when I read the "nada = 50K?" comment.

 

[pipsplease]

The Turtles

Before anyone starts laying into the turtles (those selected who did not pay) it appears that they did not know that some of their colleagues had actually paid for some time into the scam.

I think had they known it might have raised the "show us your $$$$$$" question of Mr Baghdady a little earlier.

 

[alphadude]

Here is what he said, "After that we are going to offer them a job as our traders. We are going to fund each person of those ten with about one hundred grand each which they can leverage to a much higher amount. And they will become our hedge fund managers and they will be managing the company fund… the hedge fund for the company. It’s a recruitment and a job application."

Interview with Mike Baghdady (Transcript)

Recently I watched the British drama "Millionnaire Trader" by Van Dam which was aired before the turtle poopy experiment. At the end of the day; even the hedge fund manager Van Dam started his training company.

I've seen lots of similarities between the two experiments. Obviously PaymePoopy took the idea from there.

Threw in Mr Hope, Michem; Madeoff, Kathy and her boy friend; and others...; and you get a whole bunch if scam artists collecting their dough from the gullibles.

This is somewhat bad and good news. Bad for the gullibles; and good for creating sports in this forum. We should start a new thread called Sport Poopies; and post news about new sports; and fading sports.

 

[pboyles]

It begs the question where did all money go.

 

[The Leopard]

It begs the question where did all money go.

Where "the f uck" did all the money go, I think you mean.

I think I could take a reasonable guess.

 

[scose-no-doubt]

Recently I watched the British drama "Millionnaire Trader" by Van Dam which was aired before the turtle poopy experiment. At the end of the day; even the hedge fund manager Van Dam started his training company.

I watched that. Anton "the broker is my b*tch" Kreil now does seminars on how to trade and advertised on trade2win for a while.

It was interesting seeing the trading strategy they employed.

 

[alphadude]

I watched that. Anton "the broker is my b*tch" Kreil now does seminars on how to trade and advertised on trade2win for a while.

It was interesting seeing the trading strategy they employed.

what was the strategy?

from the show I could only guess it is based on building a portfolio of long/short positions while keeping an equal ratio of long vs short. Stop loss was used for all positions. Another fellow was using a pairs trading strategy.

to me I was quite surprised Van Dam and Anton started training companies and stopped trading. It's the usual suspect. the only difference is BagPoopy did that long time ago (according to him he was a millionnaire trader in the pit)

I get pissed off when educators pray on housewives. Sadly i had a colleague a while ago (a single mum) who fell onto this category; and was trading index futures. she wiped out her savings few times; following Gann fans. I politely listened to many of her Gann theories.