Mike Baghdady - should I take a course or not?

Digbyarbuthnot

Active member
Jan 27, 2012
149
17
28
#1
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
 

ZEN archer

Well-known member
Jan 2, 2012
1,528
240
73
#4
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.
 
Apr 10, 2006
2,949
1,282
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Valletta
#5
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.
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 ?
 

ZEN archer

Well-known member
Jan 2, 2012
1,528
240
73
#6
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 ?
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.
 
Oct 11, 2006
8,072
1,301
223
#7
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 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.
 

pipsplease

Active member
Feb 9, 2012
225
62
38
#8
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

pipsplease

Active member
Feb 9, 2012
225
62
38
#9
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.
 

wackypete2

Well-known member
Sep 24, 2008
10,140
2,015
323
New Jersey
#10
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?
No one actually sees him trade. It's called an optical delusion.

Peter
 
Likes: safvan
Oct 11, 2006
8,072
1,301
223
#11
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?
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.
 

ZEN archer

Well-known member
Jan 2, 2012
1,528
240
73
#12
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?
Maybe it's only a temporary drawdown after some trades went pear shaped?

BTW that's a nice income from teaching.
 

pipsplease

Active member
Feb 9, 2012
225
62
38
#13
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???????