Mike Baghdady - should I take a course or not?

[Digbyarbuthnot]

I am intrigued by this whole posting.

Firstly I am brand new to this site so for give any minor protocol errors. I am looking to trade to fund my early retirement and found this site while researching courses and trading information.

Initially I thought the first post (by Digbyarbuthnot) was from a disgruntled employee due to the style and wording (I quoted on one of the many such comments). According to the initial posting Digbyarbuthnot just attended a workshop and did not invest any money, so I could not understand the indignation caused by just a messy office or the level of detailed company information.

There is no such thing as bad publicity and with Digbyarbuthnot on at least one occasion replying to their own comment to keep the thread going, I am a little bit suspicious. Could this be a clever publicity ploy on the lines of the Marmite love it or hate it, try it idea?



...
Those who are successful make noise about themselves, those who are not make noise about others.

Hi there!

I admit I was as confused as you are about the situation! Although it has all become MUCH clearer since. The info on my initial post was nothing more than I found from Googling 'Mike Baghdady'. Google suggested the addition of 'scam' and 'bankruptcy' to me. That raised alarms and that's why I posted on here.

I thought it was odd that a millionaire trader would have a mess of an office, that he's a bankrupt and that he continually threatened legal action against anyone who disputed him or his delusional claims.

Also, the idea that there is no such thing as bad publicity isn't true in real life. I work in media the amount of press releases and pr agencies who specialise in crisis management is huge. A reputation is very hard to earn but it can very easily be lost. The BBC consumer shows Watchdog, Cowboy Builders, Rip Off Britain etc has put a lot of companies out of business because they have been exposed and destroyed the false clams of many.

Good luck with your trading and promise that you won't spend a huge amount of money on a course with Mike Baghdady.

PS I'm not an ex-employee, but I have been in contact with a few. they all say much the same thing - that Mike Baghdady is not to be trusted and I've saved myself £5000. Now I want to save other people from falling into the trap very nearly ended up in

 

[pboyles]

It seems nobody has asked the obvious question. Have the turtles made any money? Are they actually trading live accounts and would they even know if they were still on demo accounts? OK that's three questions but anyhow can anyone comment?

 

[pboyles]

If they were making money we would of heard about it over and over again

Well yes I assume this is the case, I was just wondering if someone from the 'inside' could confirm it. Personally I dont think they were ever going to be given 100k real money each, in fact to do so would be ridiculously stupid given the failure rate at even the best prop firms. Giving someone a 100k demo account and telling them its real would of course be quite easy.

 

[pboyles]

Despite all the deletions there was still plenty of information floating around over a year ago. Did people ignore it or just not look for it?

January 2011 Forums - A list of all scam unregulated 3rd party educational vendors

January 2011 Francesc’s Weblog » Mike Baghdady’s Turtle Trader Project: The Real Apprentice

January 2011 Spyglass trading by Mike Bagdady @ Forex Factory

February 2011 How to trade using PA

February 2011 http://www.trade2win.com/boards/forex-strategies-systems/113042-mcdaddy-trading-software.html

 

[pboyles]

Any of you insiders recognise this Hedge Fund Manager from Alpine Capital? Apparently he was trained by Mike. This was the type of stuff that was deleted in 2010.

 

[pboyles]

Or what about this 'institutional trader' who was trained by Mike? Doesnt he look familiar?

Again this was deleted in August 2010

 

[pboyles]

Come and see how the real money is made.

 

[anley]

I am looking to trade to fund my early retirement and found this site while researching courses and trading information.

That's possible but are you willing to put the work in. To be confident in the markets most people need the same sort of training and experience a Doctor or lawyer gets, ie minimum 3 if not 5+ years.

Virtually nobody can get to the level you need to be at via a week's course, but that week can kick start the whole process. However, finding the right course amoungst all the hucksters and snake oil salesmen is hard. It is possible though.

Good luck, don't try to rush and be prepared for many years of hard work.

 

[pboyles]

I was wondering what Andy (alockfly) thinks about all this. He was promoting Baghdady last year on babypips.com

Mike Baghdady - Training Traders - Page 2

 

[pipsplease]

My, my. What a thread now. Just wakend up and have been entertained by what is coming out.

cooljoe - with the people you seem to be able to contact could you find out why the two main directors left the business. Can you get in touch with any of the? I think that route would really open up this Baghdady organization to some real scrutiny.

 

[pboyles]

My, my. What a thread now. Just wakend up and have been entertained by what is coming out.

cooljoe - with the people you seem to be able to contact could you find out why the two main directors left the business. Can you get in touch with any of the? I think that route would really open up this Baghdady organization to some real scrutiny.

This whole thing was originally exposed in August/September 2010, prior to the Turtles thing. I think the resignations took place sometime in late 2010 or early 2011. I dont know if they were connected to the revelations that came out in that general time period though it seems to be a bit of a coincidence.

 

[alockfly]

I was wondering what Andy (alockfly) thinks about all this. He was promoting Baghdady last year on babypips.com

Mike Baghdady - Training Traders - Page 2

I'll tell you what I think. I feel really sorry for all those people that think by singing up for a trading course, be it 5000 or 50 quid it is going to make them rich. MBD never says that it will. On all these post , I have NOT read ONE from someone who has taken the course and complained they did not get what it said on the tin!...
Name changes and past litigations mean nothing to me. By following him on his methodolgy, and using my own money managment rules, I do very well thank you...Despite all the crits , the basic priniples he teaches do give traders the edge. The problem with all failed traders is how they use that edge... I will continue to watch the thread. It tickles me............

 

[Digbyarbuthnot]

This is more complicated than it initially appears, there is another company called MBTT which was dissolved in Dec 2011, Baghdady was a Director but resigned shortly before the company was struck off and dissolved. However Michael Douglas was also a director of this company and there is no mention of him resigning.

Mr Michael Douglas - free company director check. Companies House Information

Michael Douglas has definitely left the company. He was the Head Trainer and a director. He was one of the 2 directors who resigned last year, so it must be an error or out of date info

 

[pboyles]

Michael Douglas has definitely left the company. He was the Head Trainer and a director. He was one of the 2 directors who resigned last year, so it must be an error or out of date info

There is a complicated web of different companies and name changes to existing companies. However if you check MBTT Ltd Company No. 07028787 on the Companies House website you'll see what I mean.

WebCHeck - Select and Access Company Information

 

[jmpower]

moderator, as a group the turtles are responding to this thread, the people are getting what they want
since we are in the office using works computers - our IP addresses will be similar - relax

 

[pboyles]

moderator, as a group the turtles are responding to this thread, the people are getting what they want
since we are in the office using works computers - our IP addresses will be similar - relax

That's not what we mean, what happens is that one person will create several user names and then post false information. This is what Baghdady has done here previously when these concerns were raised. But like I said its clear that several people are watching from one location as well.

 

[pboyles]

moderator, as a group the turtles are responding to this thread, the people are getting what they want
since we are in the office using works computers - our IP addresses will be similar - relax

None of those 3 claim to be turtles, you clearly are as your name is on the LLP list. Rather than outsiders commenting on this can you tell us how you feel now that you know this information?

 

[jmpower]

None of those 3 claim to be turtles, you clearly are as your name is on the LLP list. Rather than outsiders commenting on this can you tell us how you feel now that you know this information?

Crafting it up at the moment. Thank god its a public holiday in the states, come tomorrow Im focusing on trading, today I say something but after Ive said my piece Im done.

 

[jmpower]

I'm a turtle.

Money: live since mid September – yes I was struggling waiting for it, patience has always been a problem for me. If we aren't actually live but being fooled as some suggest than PFG and management are very cunning because it feels real and the statements are real.

Bankruptcy: Mikes shown me documents, I believe his version of events and they fit the observable reality here. I think Mike is going to post the truth at some point, it depends on his being allowed to as court documents are always sensitive, so is personal information.

Thread watching: of course I'm going to keep my eye on what's being said, its my future at stake here too. All of us turtles have given up a lot to undergo this program, in my case I was already trading with a rival company of all things. I've been a member since 2009, I've not had much to say because it was not worth saying.

Office: would you rather the office be decorated with gold wall paper and slaves with feathers fanning you as you walk in the door? The office is functional, we are traders not interior designers and its quite comfortable enough, we have chairs, internet, computers, hell there is even free coffee and tea and occasionally some food – that's a win.

I look around the office as I type this, I see my mates, the turtles here with me. I am using a computer provided by Mike Baghdady, my ass is sitting in a chair provided by Mike Baghdady, the power and heating are paid for by Mike Baghdady and I am trading money provided by Mike Baghdady. I've been here 6 months, I haven't paid for my consumption yet, but I don't cop **** from him because of it, in fact its mostly encouragement. I will be the first to admit that I have occasionally clashed with Mike but its been over minor **** and the only wounds were pride. Yes I've moaned into my beer a few times about it because I have a high level of self esteem and my expectations on how the program should run vs how it is being run are somewhat different: unfortunately the world doesn't always agree with our models of reality. Ego is the enemy of trading, I'm learning to face mine.

I did my research before I applied for the program and I read the same information that's on this post. In the end actions speak louder than words. I was already on a good wicket, trading reasonably well and earning money doing it. When an organization says to you hey, we will teach you our way with our money, come join us, it says a hell of a lot. What I found were people willing to teach me their method, despite me having my own. All they asked of me was to abandon that method and learn theirs, they even provide a small amount for expenses. I have learnt a hell of a lot and its nothing that isn't taught on the courses provided by TT. The only advantage I have compared to a full fare paying client is that I'm trading their money – and that brings its own unique form of pressures. If you haven't done it, try it, its not the utopia you think it is. Other peoples money is sacred.

I guess to sum it up, there is expectation and there is reality. In my personal journey with TT I've found the two don't always agree. When that happens the best thing to do is observe the irrefutable facts. Again I look around me and see all that is provided to me free of charge. Enough said. Of course Mike has asked that say something. I've thought it through for a while and the above is my first and final response. If people on this thread have a beef with Mike that is legitimate, then lawyer up and get it done. That's me finished, I'm going back to doing the best I can with the tools at my disposal. Even if I were not a turtle I can say that on balance my post would not be materially different than this.

 

[Digbyarbuthnot]

I get free tea & coffee AND get paid at my office (including desk, Internet etc) Mr Power, are you in profit? Did you get the £100k that was promised?

Those are the 2 questions we want the answers to. Those are the irrefutable facts we need