Mike Baghdady - should I take a course or not?

[londontrader2011]

Laughable indeed. Digby (thread starter) must be a sacked TT employee or binned Turtle. He started with a plan to trash Baghdady in a "should I do a course?" thread but it turned into a rant and he blew credibility by going over the top (fleapit office, talking to ex-staff, etc)

I've been into the TT office for a free seminar and Turtle interview the place is fine (Google Street View guys, it's not a war zone!). TT course wasn't for me due to cost and I wanted to learn the basics myself first, but if the Turtles nail it, I might look again. They'll need to prove methods and success beyond doubt though.

If any newbies also saw this thread trending and made it this far through the chaff, well done and let's savage something useful. Like me, for starters, read all the free education on here, ForexFactory and BabyPips etc, read books, go to CNBC's free web lessons, go meet traders and wannabe traders at free seminars, CityAM events etc and listen to the people you meet (often you'll learn useful info from the crowds over coffee breaks, especially about negatives experiences, but again watch for bias).

If you want to go the paid training route as a leg up, do your due diligence by talking to the trainers and getting proof of any claims. If I was a trainer and coining it in, I'd love nothing more than to show you my bulging account... Be wary of those that can't/won't

 

[wackypete2]

I think you are missing the point, myself I am not supporting Baghdady I am questioning the legitmacy of pboyles. I am certainly not advocating him picking on any other company or person. Someone who hides behind an anonymous handle could be anyone from any company trying to slate competitors.

may be of interest: SJ Capital Group - Strategic Land Investment

I was referring more to Kruger9's posts.
I have already read and posted in the SJ Capital thread here.

Peter

 

[WhichWayNow]

Schneiders and Futex have graduate program's where they do not charge. I believe one of them also has a course you can pay 7k for. Their success rate is very low, well under 10% yet you think Baghdady can make you all millionaires.

Regarding you allegation about me favouring site sponsors I shall leave it to a moderator to explain to you how many of my posts have been deleted for criticising site sponsors. You might want to check what I said about FXCM being fined. They were the T2W preferred broker at the time.

Looks like you have got something to hide, or did you not read my full comment.

A company director and people linked to Training Traders have identified themselves. I think its time you and Digbyarbuthnot identify yourselves and identify any trading links you have or do you have something to hide. Basically if you want us to take you seriously, Put up or Shut up !

 

[pboyles]

I think you are missing the point, myself I am not supporting Baghdady I am questioning the legitmacy of pboyles. I am certainly not advocating him picking on any other company or person. Someone who hides behind an anonymous handle could be anyone from any company trying to slate competitors.

may be of interest: SJ Capital Group - Strategic Land Investment

I'm not asking anyone to trust what I say. I shall just post some more court documents tomorrow and you can make your own minds up. This shall include Baghdadys income etc. By the way if you want to get scammed by some south Africans please sign up to SJ Capital, they'll be very happy to scam you with the old land banking.

 

[Digbyarbuthnot]

If you want to go the paid training route as a leg up, do your due diligence by talking to the trainers and getting proof of any claims. If I was a trainer and coining it in, I'd love nothing more than to show you my bulging account... Be wary of those that can't/won't

Hi London Trader 2011

Thanks for your post. I couldn't agree more with the statement above here as this is why I'm very dubious about Mike Baghdady's claims because he refuses to back them up with fact. This is why I keep asking to see results from the Turtles and check that their accounts were funded with the £100,000 that was publicly promised in a blaze of media.

He started with a plan to trash Baghdady in a "should I do a course?" thread but it turned into a rant and he blew credibility by going over the top (fleapit office, talking to ex-staff, etc)

It seems as though I have been confused for someone who holds a grudge against Mike Baghdady. I posted honestly here but I soon realized that there are many people who do hold grudges (mainly ex-suppliers and ex-staff for him not paying them properly). I apologize if you think this is a rant but I think that my questions have been straightforward and my responses to the Training Traders post have been fair and decent.

You are obviously a sensitive soul because you think I've blown my credibility in describing the Training Traders office as a flea pit? How on earth has that blown my credibility? Do you think I'm an estate agent? Another poster today described them as well appointed. This is a fair and open discussion of London office-space!! Anyway...

You think that by talking to ex-staff is another blow to my credibility? Again - how so? Ironically enough, within 48hrs of making the first post here, I was contacted by a number of former Training Traders staff warning me NOT to take the course for a wide-range of reasons discussed at length in previous posts. I shall repeat so that my credibility remains in tact - The former Training Traders staff got in touch with me and gave me some information that I found very enlightening and useful. It's also been very illuminating that not one single former member of staff appears to have anything supportive to say about Mike Baghdady. That is very telling.

I have also been in touch with some current members of staff inside Training Traders. Again, they initiated contact with me. That Is even more telling.

Anyway, the only grudge I hold is that I feel affronted that I was asked to part with £5000 for a course (in a flea pit office!) that I since learned that many of the claims I was given for handing over the money could NOT be backed up by fact.

 

[pboyles]

Looks like you have got something to hide, or did you not read my full comment.

A company director and people linked to Training Traders have identified themselves. I think its time you and Digbyarbuthnot identify yourselves and identify any trading links you have or do you have something to hide. Basically if you want us to take you seriously, Put up or Shut up !

Go ahead and name the T2W sponsors that I'm supporting. If you could post some proof that would help. I've been posting plenty of proof of what I'm saying about Baghdady so you go ahead and do the same.

 

[DionysusToast]

Someone who hides behind an anonymous handle could be anyone from any company trying to slate competitors.

So is your first name "WhichWay" or is your surname "WayNow"????

PBoyles is pretty well known around these parts. This tack you are taking wont get you anywhere because of that.

In fact P Boyles is much closer to a real name than your own - what makes you think it is an anonymous handle as opposed to first initial & surname?

 

[JetWealth]

Dont waste your money, work with professional traders and watch what they do.

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

 

[anley]

WhichWayNow is hilarious, he can't even spot a bunch of Land Banking scammers like SJ Capital.

Like PB says, why not call them up, they'd love to sell you a plot of land here in the UK which they'll tell you will 'soon' get planning permission. You'll then be able to sell it for a great profit, easy money! Just don't come back here whinging and whining when you realise the land you've bought is worthless.

 

[pipsplease]

Whichwaynow - you have revealed yoursel fas an obvious Baghdady plant. I have attempted on here and on other forums to refraim from being personally critical of any individual but you sure ask for a sound dose of it.

You have a go at pboyles for not revealing his/her identity but we are left wondering just which member of Training Traders / Baghdadys entourage you are.
You put up a link to SJ Capital - their statement following posts on trade2win. You obviously did not do your homework as you would have discovered that pboyles, anley, lightning Mcqueen, Wackeypete and others posed some direct questions to SJ Capital that were never answered - much like the situation at Training Traders. Does this not make you wonder if they had a point????? But you appear happy to post a copy of what someone at SJ Capital reated as sound evidence that all is ok with them.
I do not know the absolute truth here but given the evidence that you can discover on the web with a bit of effort - I would be very cautious. This was not a good example to back your view of pboyles, was it?

We have had a lot of comments coming out of Training Traders and we are told that Baghdady himself called his staff and turtles together to get them to post something good about himself.
There have also been untruths coming from some of these posters (they know who they are) and in the end the truth will come out. The statements of those who are being less than accurate with the facts will be exposed in due course.
What we have not received are answers to some of the questions asked by others on this thread. Having a go at pboyles does not in any way address the main issues and it would appear despite the noise and fog coming from certain offices - the matters being debated and discussed will not go away.
Should you wish to come back and post again please keep it to the real issues on this thread and not personal.

 

[pboyles]

So far there have been no explanations from TT, just a load of abuse and a few people that dont really know him saying how great he is. We do now know that his office is 'surprisingly well appointed' so at least that's something.

To date nobody has explained the false claims about world championships and hedge fund managers. The bankruptcy issue has been carefully dodged with a less than complete answer. What about Baghdady's status as a world leading millionaire trader and guru? Who'd like to comment on that one?

By the way if whichwaynow would like to post a link to another irrelevant thread I suggest he googles City Financial Traders on T2W. That's another company I commented on a while back, they have since disappeared.

 

[pboyles]

I think you can all forget about the millionaire trader claims too. You'll see in his court affadavit he discloses his sole income is from training (Spyglass being the previous name for TT). So he's neither a trader or a millionaire, still it was at least more plausible than some of his other claims.

 

[wackypete2]

I don't think we're going to see any of the Baghdady Squad again. They are disqualified for being underweight.

That means plan B is to have the thread removed.

Peter

 

[DionysusToast]

Ouch - $75k a year???

Damn... that's not a lot of money at all..

 

[Howard_Entertainment]

Hi all, looking forward to further adding to this discussions... I do love a tall tale! Is this the suspended reality forum, where facts don't matter? I've got a WHOLE BUNCH OF THOSE FOR YOU!

 

[the hare]

Is this the suspended reality forum, where facts don't matter?

yes, and as an added bonus they'll occassionally throw in some lulz.

 

[wackypete2]

The facts have been entered into evidence. Let the pips fall where they may.

Peter

 

[Digbyarbuthnot]

Hi all, looking forward to further adding to this discussions... I do love a tall tale! Is this the suspended reality forum, where facts don't matter? I've got a WHOLE BUNCH OF THOSE FOR YOU!

You must work for Mike Baghdady then!

 

[Malcolm Steel]

It seems Malcolm has decided not to respond so I've gone back and looked at the court documents again. The case dates from 1997 and Robbins Futures alleged breach of contract, common law fraud and common law fraud/wilful and wanton conduct. The court found in favour of Robbins on all three counts. Attorney fees amounted to $205,000 and the total judgement is around $350,000. The case is summarised on the following websites.

The Trusty Servant : Turtle traders

Document 385 :: Baghdady v. Robbins Futures Inc, et al :: 1:1997cv08794 :: Illinois Northern District Court :: US Federal District Courts Cases :: Justia

It is prudent when asking for information to allow time for a person to reply especially when posting out of office hours.

As was stated it was Mr Baghdady who filed for Chapter 11 and then withdrew it, the case no longer exists.

We have already given our official response to this topic:

Official Response on behalf of Training Traders

Unfortunately there have been a number of misleading posts on this site containing misrepresentations of truths and unsubstantiated claims. We respect the right of people to discuss and criticize in an open and objective manor, however in this case there have been a number of misrepresentations and false allegations.

As a company we provide training courses for people new to trading and experienced traders in the Forex, Stock and Futures markets. In addition to the courses we also provide mentoring, live trading rooms, a graduates club and a weekly planning session to help support our clients. We also allow clients to re-take the course for free at a later date. We are not an anonymous web based training company, we perform our training in our offices and invite graduates back to our offices for continued support in our graduates club.
We have the confidence in our training to take a group of people and fund their trading based on the methodology we teach. This does attract criticism as no other training company has the confidence or backing to be able to do this.

We have nothing to hide and are happy to arrange a special workshop to invite Forum members to visit us and see for themselves who we are and what we are about and ask questions.

In response to particular comments:

Mr Baghdady’s chapter 11
Prior to Trading Traders existence Mr Baghdady entered into court action in the USA against a broker following mistakes resulting in wrongful liquidation in his account. After 12 years of litigation and despite the broker admitting to the mistakes in court, the court found for the broker as there was no malice. In mid 2010 Mr Baghdady was ordered to pay the brokers legal fees. Mr Baghdady then filed for the Chapter 11 in order to protect his assets during the financial settlement with the broker (standard practice in the US). Less than 90 days later once the settlement was agreed Mr Baghdady withdrew the Chapter 11. This case is closed (see attached word doc).

Misleading publicity, late payment of bills and staff turnover
It would not be right for us to comment on this in detail, mistakes have been made and we have taken action to try to ensure that the right people are in the right roles to improve this situation.

Turtles
They are still here, a few of them are gainfully making money, most of the rest are even and couple are in negative territory. This is the normal life of a trader, keep in mind they started trading in the tough market conditions of the USA crash and the Euro problems. It is nice to know that people are following the Turtles progress, we will try to improve the postings to help you follow their progress.

Office environment
We believe than an office based training environment allows us to provide a high level of help and support to our clients. However we do not believe in inflating our prices just so we can lavish in luxury surroundings, so we provide facilities equal or better than most standard business offices. As stated above we are happy for people to come and visit to judge for themselves.

 

[the hare]

We have already given our official response to this topic:

I dont think this is going to stop until you address the issue of "the world trading championship", and the TV ad.



I dont like to predict, but in this case, I'm predicting this is not going to end well for the reputation of either Mr Baghdaddy, or T2W