Mike Baghdady - should I take a course or not?
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pipsplease
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On investigation, it certainly was.
Here is the link to Fethi Ceramics in Egypt.
Egyptian German Porcelain
This is the company started by his father.
The name Mahoud Fathi Mahmoud means he is the son of Fathi Mahmoud. In Arabic the names are constructed as 'name' - fathers name - grandfathers name.
pipsplease
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The connection can be confirmed by the fact that he had a whole load of stuff shipped from this factory in Egypt to the Training Traders office in London. He had mugs and Egyptian statues - thousands of them.
His former Sales Manager was tasked to try and "get rid of them" when Baghdady could not find a buyer. Gave the mugs away to those who attended his workshops.
Ironic - eh!
It all fits so far.
The FINRA register shows that he was at Online Trading Academy (which we already knew), it also says his other name is Mahmoud Fathi Mahmoud so it's him alright. The only thing that's not 100% clear is the final outcome of the $5 million court case but it looks very much like that went against him. That ties in very well to the references made to a previous bankruptcy during the NY bankruptcy proceedings.
pipsplease
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Question:
If he had been declared bankrupt (maybe twice) would he have been allowed to work at NYBOT as he claims???????
ps. See he is still claiming to be "world live trading champion" on his website.
This guy has no shame.
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Here's his latest online marketing genius.
Matt Solomon - United Kingdom profiles | LinkedIn
Matthew Solomon, About Me
Matt Solomon - United Kingdom profiles | LinkedIn
Matthew Solomon, About Me
Lightning McQueen
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Seriously?
aren't you one of those cookie stuffing affiliate fraudsters?? every post you've made contains a smilie image from imagicon.info.
mods - you need to bin this clown now!! and every clown found using a imagicon.info smilie! and yes there's quite a few.
ps in my reply your quoted smilie was replaced with a bona fide t2w smile
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C
cablemonster
'Ben became familiar with ‘Price Behaviour’ and applied this methodology to his trading approach.' WTF
Mr. Charts
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I became familiar with "cooking" and applied this methodology to my approach to eating.
pipsplease
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Look who else was there!!!!!
Not only Ben Tuckey. Take a look at this link - photo number 112 & 115.
http://www.forexef.com/AlbumView.aspx?I=9
Photo 112 & 115
Seems that Baghdady is getting around as if nothing has happened!!!!
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I went on Mike Baghdady’s course.
I have read through a lot of this thread and it seems to me that there are people here who simply want to say their piece on how they were misled by a delusional person. I don’t want to be accused of slander so I will back up what I say. Simply put, a delusion is a belief in something that is not true. A delusional person is someone who holds onto those beliefs. The situation is tragic, while some may come to realise that what they are being told does not add up, the person who holds on to their delusion remains convinced that they are right. What adds fuel to the fire is that unsuccessful trading makes some people vulnerable due to the aggravation and pain of financial loss, so making them more susceptible to delusion. Considering the evidence found on this thread that Mahmoud (Mike) Baghdady has financial problems, does it not become glaringly obvious that the reason for his problems is due to the fact that he is not a successful trader? Does sound reasoning not suggest that if his claims were true he should be debt free and not have any financial problems? Would you take advice from a financial advisor who has financial problems? My advice to new traders would be to be wary not only of Mahmoud (Mike) Baghdady but also of anyone else who makes such claims. My sincere advice to Mahmoud Baghdady would be to look deep within yourself and understand the absurdity of your situation.
I took a course by Mahmoud (Mike) Baghdady (MB) and Mike Douglas at Spyglass Trading in London at the end of 2009, way before this thread even got started. I had only started trading and wasn’t very successful. At the time I was spending hours learning about trading, watching webinars, reading books etc. I came across some webinars hosted by MB on FXStreet and I have to admit I was mesmerised by his words. In my sincere efforts to become a successful trader I knew I had to learn as much as possible, I had to be patient and persevere in my endeavour. As a person, he came across as being very sincere and as a trader he just seemed to make so much sense with his insights and his trading method. I was intrigued by his system, the opening ranges, market side, structural points etc. although he was secretive about exactly how some parts of the system really worked which actually made it even more intriguing. In theory, his understanding behind each concept and overall, his understanding of the market seemed compelling. The problem however, as many people here have already highlighted is that the theory and reality are wildly out of step. MB claims that his system is profitable 70% of the time, I don’t know about the others but I found that even if I did everything I was supposed to do I couldn’t even break even.
So, what is the problem with his system? During the weekend planning session he sets a bias. He looks at the currency futures such as the USD index and others individually. He the makes an educated guess at where he thinks the currency is heading. He looks at the trend and on structural levels which are the significant highs and lows of historical trading ranges. He then looks at each currency pair and starting with the higher time frames identifies nearby levels and the general trend direction. He then looks for a place to go long and a place to go short usually on a lower timeframe and usually above or below a recent high or low. If you want to see examples of his planning you can go here: MIke Baghdady - YouTube
In my experience I have found that his trades depend on momentum and on a longer term trend. If there is no trend and if there is no momentum the system breaks down and results in losses. Based on the planning session you will end up buying at resistance and selling at support (but for some odd reason he doesn’t like to call them support or resistance, he calls them things like perception level, momentum level etc.), it’s all good if resistance and support break because such a move is followed by capitulation due to the number of stops above and below. But as the more experienced traders know there are many times when such moves are fake-outs or stop loss hunts; the market reverses and plummets in the other direction. Also, if you buy at resistance and sell at support you are usually doing so after a significant move has already taken place and are hoping that the momentum will continue, in other words you end up chasing the trade. There is also a lot of volatility around significant or structural points because they are important. According to this method you are meant to buy above and sell below. However at times there is so much volatility around these points that if you were to do that you would very quickly encounter losses, as the price moves above and below it so many times. In the end you will find that if the market does not trend or the trends are short lived then all the smaller losses incurred by trying to catch any of the larger moves will overwhelm your trading account.
Overall, there may be times when the system is successful, such as recently for JPY pairs which have a strong trend, but then who needs a system to trade the JPY pairs? I surmise that the reason why MB has not been successful recently is because the markets have been so volatile without any clear direction. Can anyone really say for sure in which direction EURUSD is headed. What about if I had asked this question before 2008? MB developed this system under certain market conditions and certain expectations when he worked as a floor trader but that was a different time and under different conditions.
My advice is to check out his planning sessions and compare them with what really happened, if you had taken those trades would you have been successful or not? My advice for any new traders is this. Do not become deluded. The psychological pain of financial loss can make you susceptible to all kinds of wishful thinking. You will, in all likelihood learn the hard way, which means many years and many thousands spent on learning how to trade. In the end, you will discover that the keys to your success were actually the most basic and will have come to you through alot of pain. Whatever happens never ever get into debt to trade. If you are in debt don’t trade, sort out your finances first and only trade with your own money. If you are good with technical analysis but find that you cannot manage your risk or trade on leverage, consider longer term investing in stocks and ideally with no leverage, at least you’ll be able to sleep at night.
Caldera
I have read through a lot of this thread and it seems to me that there are people here who simply want to say their piece on how they were misled by a delusional person. I don’t want to be accused of slander so I will back up what I say. Simply put, a delusion is a belief in something that is not true. A delusional person is someone who holds onto those beliefs. The situation is tragic, while some may come to realise that what they are being told does not add up, the person who holds on to their delusion remains convinced that they are right. What adds fuel to the fire is that unsuccessful trading makes some people vulnerable due to the aggravation and pain of financial loss, so making them more susceptible to delusion. Considering the evidence found on this thread that Mahmoud (Mike) Baghdady has financial problems, does it not become glaringly obvious that the reason for his problems is due to the fact that he is not a successful trader? Does sound reasoning not suggest that if his claims were true he should be debt free and not have any financial problems? Would you take advice from a financial advisor who has financial problems? My advice to new traders would be to be wary not only of Mahmoud (Mike) Baghdady but also of anyone else who makes such claims. My sincere advice to Mahmoud Baghdady would be to look deep within yourself and understand the absurdity of your situation.
I took a course by Mahmoud (Mike) Baghdady (MB) and Mike Douglas at Spyglass Trading in London at the end of 2009, way before this thread even got started. I had only started trading and wasn’t very successful. At the time I was spending hours learning about trading, watching webinars, reading books etc. I came across some webinars hosted by MB on FXStreet and I have to admit I was mesmerised by his words. In my sincere efforts to become a successful trader I knew I had to learn as much as possible, I had to be patient and persevere in my endeavour. As a person, he came across as being very sincere and as a trader he just seemed to make so much sense with his insights and his trading method. I was intrigued by his system, the opening ranges, market side, structural points etc. although he was secretive about exactly how some parts of the system really worked which actually made it even more intriguing. In theory, his understanding behind each concept and overall, his understanding of the market seemed compelling. The problem however, as many people here have already highlighted is that the theory and reality are wildly out of step. MB claims that his system is profitable 70% of the time, I don’t know about the others but I found that even if I did everything I was supposed to do I couldn’t even break even.
So, what is the problem with his system? During the weekend planning session he sets a bias. He looks at the currency futures such as the USD index and others individually. He the makes an educated guess at where he thinks the currency is heading. He looks at the trend and on structural levels which are the significant highs and lows of historical trading ranges. He then looks at each currency pair and starting with the higher time frames identifies nearby levels and the general trend direction. He then looks for a place to go long and a place to go short usually on a lower timeframe and usually above or below a recent high or low. If you want to see examples of his planning you can go here: MIke Baghdady - YouTube
In my experience I have found that his trades depend on momentum and on a longer term trend. If there is no trend and if there is no momentum the system breaks down and results in losses. Based on the planning session you will end up buying at resistance and selling at support (but for some odd reason he doesn’t like to call them support or resistance, he calls them things like perception level, momentum level etc.), it’s all good if resistance and support break because such a move is followed by capitulation due to the number of stops above and below. But as the more experienced traders know there are many times when such moves are fake-outs or stop loss hunts; the market reverses and plummets in the other direction. Also, if you buy at resistance and sell at support you are usually doing so after a significant move has already taken place and are hoping that the momentum will continue, in other words you end up chasing the trade. There is also a lot of volatility around significant or structural points because they are important. According to this method you are meant to buy above and sell below. However at times there is so much volatility around these points that if you were to do that you would very quickly encounter losses, as the price moves above and below it so many times. In the end you will find that if the market does not trend or the trends are short lived then all the smaller losses incurred by trying to catch any of the larger moves will overwhelm your trading account.
Overall, there may be times when the system is successful, such as recently for JPY pairs which have a strong trend, but then who needs a system to trade the JPY pairs? I surmise that the reason why MB has not been successful recently is because the markets have been so volatile without any clear direction. Can anyone really say for sure in which direction EURUSD is headed. What about if I had asked this question before 2008? MB developed this system under certain market conditions and certain expectations when he worked as a floor trader but that was a different time and under different conditions.
My advice is to check out his planning sessions and compare them with what really happened, if you had taken those trades would you have been successful or not? My advice for any new traders is this. Do not become deluded. The psychological pain of financial loss can make you susceptible to all kinds of wishful thinking. You will, in all likelihood learn the hard way, which means many years and many thousands spent on learning how to trade. In the end, you will discover that the keys to your success were actually the most basic and will have come to you through alot of pain. Whatever happens never ever get into debt to trade. If you are in debt don’t trade, sort out your finances first and only trade with your own money. If you are good with technical analysis but find that you cannot manage your risk or trade on leverage, consider longer term investing in stocks and ideally with no leverage, at least you’ll be able to sleep at night.
Caldera
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neil
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Guy is a scammer -he even gets new posters to come here and attempt to dupe the new trader into buying onto his scam.
It is a bit old hat now to stuff forums with new posters (usually one post) to con the unwary but I guess you guys haven't twigged that yet:whistling
It is a bit old hat now to stuff forums with new posters (usually one post) to con the unwary but I guess you guys haven't twigged that yet:whistling
Just to be clear...
I don't work for MB I don't support any of his businesses or endorse his courses.
At the same time I wouldn't say a person can not benefit from his course. It is down to the individual. As mentioned by many people already if you read enough about trading you will eventually find that his system is essentially based on trends, momentum and breakouts. How you trade and what system you use depends on you as an individual, what may work for one person may not for another.
I don't work for MB I don't support any of his businesses or endorse his courses.
At the same time I wouldn't say a person can not benefit from his course. It is down to the individual. As mentioned by many people already if you read enough about trading you will eventually find that his system is essentially based on trends, momentum and breakouts. How you trade and what system you use depends on you as an individual, what may work for one person may not for another.
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neil
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Hope the above wasn't aimed at me since I was not referring to you:|
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