Mike Baghdady - should I take a course or not?

Nobody saw Baghdady trade despite all his claims. The turtles were forced to take trades by Baghdady time and time again. These trades almost always failed.
Baghdady claimed in public many times that his rules and his system worked 70% of the time. IT DID NOT.
The turtles were getting way down low on % terms whilst Baghdady was forcing them to take trades to his own rules.
What does that tell you?

That if the only place his rules and system were 'documented' to any degree was between his ears, the only way we'll ever get to disect them is with a scalpel! :LOL:
OK. I'll stop banging on about the 'system'..
 
Wasn't the whole point that he could teach anybody to trade successfully?

I was under the impression that the turtles as a group would make money within 3 years. If you look at the original turtle experiment, many within the group failed (hardly surprising given the number of degrees of freedom allowed), however the group as a whole, where profitable.

I'm not sure what bizarre claims where made for the trading course.
 
That if the only place his rules and system were 'documented' to any degree was between his ears, the only way we'll ever get to disect them is with a scalpel! :LOL:
OK. I'll stop banging on about the 'system'..

I am sure that someone can get the rules and publish them on here. The rules as I know are not special but just common sense to anyone that knows a little about trading.
i.e. Go with the trend (strength)
Don't trade the news
Always use a stop (use previous momentum high/low for this)
Dont trade Friday afternoons (USA session)
Trade out of opening ranges (1st fifteen minutes of each main session)
If range is too big - do not trade it
etc, etc

The rules are no silver bullet!!!
 
I am sure that someone can get the rules and publish them on here. The rules as I know are not special but just common sense to anyone that knows a little about trading.
i.e. Go with the trend (strength)
Don't trade the news
Always use a stop (use previous momentum high/low for this)
Dont trade Friday afternoons (USA session)
Trade out of opening ranges (1st fifteen minutes of each main session)
If range is too big - do not trade it
etc, etc

The rules are no silver bullet!!!

Absolutely, I was just intrigued as to why, in all of these pages there was no mention of '..and his system is just a basic crossover/ breakout/ etc, etc..'.
For a guy to make it to become the head of NYBOT, I thought he must have something unique or different, but I guess not..
 
Absolutely, I was just intrigued as to why, in all of these pages there was no mention of '..and his system is just a basic crossover/ breakout/ etc, etc..'.
For a guy to make it to become the head of NYBOT, I thought he must have something unique or different, but I guess not..

You need to take those NYBOT claims of his with a pinch of salt.....
 
Looks like somebodys been name changing and address changing again..
Oh and for verification, a resignation..

I did a Webcheck on Spyglass Trading's company number, 6738461, from the foot of their web page..
Coaching

;)
 

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Assuming you are indeed a genuine client, would you mind answering the following?
How long ago did you complete the training?
What materials did you receive during and/ or after the course?
Are you still able to use the software, since the sudden demise of TT?
Are you willing to prove that the 'system' has been and remains profitable and will continue to work over the long term, by way of evidence of past trades and making live calls in realtime?
Give a description of the system/ software with your perceived positives and negatives?

First of all im offering my experiences and perception from my time as a client

i have nothing to prove here

i did my training nine months ago in there office

i recieved 2 manuals one basics of candle stick analysis, technical and fundamentals. the second was a manual including there system and more information on analysis.

i stopped using the software because i felt it was over priced especially for what it does. paying 5K for a year up front after already paying the best part of 5k for training and then funding an account would make it difficult for a person like me who doesnt have lots of cash lying around on the other hand if you do have a lot of money well, its up to your own circumstances.


the system for me wasnt consistently profitable

the mathmatics and theory behind the system were sound in my opinion
i think the software can give you a good perception of the market

how ever the mentoring and course had little information regard trading trading psycology which was poor in my opinion. Given the fact that most of tt customers were amateurs looking to make the step into professionalism i think this was its downfall in my view as a client.

whilst in mentoring tt made it clear that they were not going to accept any responsibility for trades.

The mentoring would usually consist of looking for strength or weakness in currency pairs or areas where there had been previous significant price action also identifying market conditions using the software. For me as a client the mentoring was poor i felt that the instructors could have been a bit more convicting and disciplined.

My self and others agreed, from a clients perspective i was looking to tt for answers. Im not saying i expected to make money every day. i mean as a person looking to make money in fact needing to make money you would expect every one in tt to accept some level of responsibility for your well being not just as a trader but also a person. when i went to the workshop we were told you would be nurtured into a consistent and profitable trader. this unfortunately simply did not happen. i was told that upon signing up you become part of a trading community in tt . In fact i did but i firmly believe tt were very out of touch with this community and its needs and expectations. For example i was mainly contacted after my training to be sold more products and once a month for the grads meeting which was an automated email service i did not recieve any feed back regarding my trading other clients told me how they had complained because they had sent there trades and balance sheets and recieved no feed back. Dont get me wrong i learnt a lot at tt but did they keep there end of the deal with every thing i was told and sold at the work shop ??

No they didnt
 
The ability of the trader says nothing about the method. A cr@p trader won't make money using proven methods while a successful experienced trader can make the best out of poor methods.

I agree with Hare. That Mr B and his company failed is not a reflection on the turtles at all. THEY did not fail. It appears they were forced to liquidate and move on. With so little time and sample size we cannot determine if the method the turtles were using would ultimately succeed or fail. We do not even know HOW they were trading.

Peter

i think its fair to say they were failed
 
I am sure that someone can get the rules and publish them on here. The rules as I know are not special but just common sense to anyone that knows a little about trading.
i.e. Go with the trend (strength)
Don't trade the news
Always use a stop (use previous momentum high/low for this)
Dont trade Friday afternoons (USA session)
Trade out of opening ranges (1st fifteen minutes of each main session)
If range is too big - do not trade it
etc, etc

The rules are no silver bullet!!!

the rules weren't actually categorized in a list
 
I'm not at all clear as the the function of the "software". How exactly was this supposed to aid the trader ?

the software would plot 1 to 4 day high and lows on a 200 tick chart

significant turning points would be plotted on weekly monthly and daily charts and all the levels would be displayed on a daily next to the 200 tick

it made it easier to spot areas where the price might consolidate and areas where there might be a good set up

also you could see which currencys had been strong weak over the last session or sessions
 
the software would plot 1 to 4 day high and lows on a 200 tick chart

significant turning points would be plotted on weekly monthly and daily charts and all the levels would be displayed on a daily next to the 200 tick

it made it easier to spot areas where the price might consolidate and areas where there might be a good set up

also you could see which currencys had been strong weak over the last session or sessions

5k to plot S&R and 4 day high/low on a chart? No wonder people were disappointed.
 
the software would plot 1 to 4 day high and lows on a 200 tick chart

significant turning points would be plotted on weekly monthly and daily charts and all the levels would be displayed on a daily next to the 200 tick

it made it easier to spot areas where the price might consolidate and areas where there might be a good set up

also you could see which currencys had been strong weak over the last session or sessions

Merkozy,
Thanks for your input. Please can you post a typical setup of a chart and the reason you traded based on TT method?
 
the software would plot 1 to 4 day high and lows on a 200 tick chart

significant turning points would be plotted on weekly monthly and daily charts and all the levels would be displayed on a daily next to the 200 tick

it made it easier to spot areas where the price might consolidate and areas where there might be a good set up

also you could see which currencys had been strong weak over the last session or sessions

merkozy.
Could you confirm the following?

I know a couple of people with this software.
It does the following.
1.Plots an opening range of first 15 minutes of each of the three major trading sessions. This is essentialy the first 15 minutes range.
2. It plots the previous few days highs and lows and extends a line across the chart. This was not accurate on the charts I saw and was a real pain and distraction. You can turn it off.
3. The best part is a radar screen where you can input any instrument you wish and it will show if it moves out of the opening range up or down.

That is essentially it. It does not plot major significant or turnaround points. This you have to do yourself as on any charting package.

I reckon that the helpful part (the radar screen) could be written up by any decent programmer for few hundered $$$.

Where did the £5k come from? This is a rip off.
This software cannot and will not make you trade better. You have to learn to do that yourself. The radar screen could be useful once you know what you are doing.

One big issue. The person who showed me the software has constant problems with it and is always trying to get problems sorted via Malcolm at Training Traders. Guess what? He mostly does not get the issue resolved for days as Malcolm never gets back to him in a reasonable time.

The other and much more worrying issue is that every couple of months the software stops working and Baghdady apparently blames that on the platform he is using or something he has done wrong. It usually takes days to get it working again (meaning he cannot use it to trade). Then he finally gets a new download from Baghdady. It seems that the software is time locked and stops working as this has happened three times now.
 
Tradestation can do all that and I believe it's free if you have a trading account with them.
 
merkozy.

3. The best part is a radar screen where you can input any instrument you wish and it will show if it moves out of the opening range up or down.

I have a screening of breaking out of a prior days range included with my Trade Navigator (Genesis) trading platform. ..... and people pay upto 5k for this:cry:.(n) I'm lost for words. The trading vendor industry is more corrupted than I wildly imagined.
 
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