Hello,
I’m attending one of his free price behaviour workshops in a few weeks, and wanted to know whether anyone had attended these, or knew anything about the course?
I’ve looked around and found very little feedback.
Thanks in advance,
Liam
You perhaps should be aware that this character is in the process of filing for bankruptcy. In an affadavit filed with the court he has declared that he makes no income from trading, just from training courses (and not that much either !)
Check out the attatched the PDF
bagdaddy.pdf (88.8 KB)
Thanks very much for your response - I didn’t know that.
I will attend the course (as its free) but won’t be dragged into purchasing anything. From what I gather he tries to flog some charting software at the end of the course, which will most likely be a load of rubbish. I just hope the workshop isn’t fully based around what you can do with the software!
Thanks again.
I’ve always found it amusing that Baghdady sort of rimes with baglady… 
And he is still giving webinars on fxstreet.com !
Showing a 45min long advertisement and calling it a webinar is one thing but bringing sheep to the openly convicted wolf is not nice at all.
Anyway hope this thread will survive a bit longer than others I have seen. But be aware, Mike has alot of time on his hands and his only dayjob is searching the interwebz and scare forums with legal action.
Nothing but well known public facts have been published on this thread so i wouldn’t worry much about that. Besides, what sort of legal action do you seriously think a broke guy could afford?
I have been following several threads on the Trade2Win.com forum, but they delted most of the controversial comments with the excuse of legal threats form “McDaddy”.
Now anyway yesterday I have learned that “McDaddy” and T2W.com are actually business partners! the same interest conflict has fxstreet.com .
So I think you are right, the legal threat is not the issue here, its likely that these websites are afraid of loosing “McDaddy” as a money source. Now that he is broke I think they can finally stop with this charade.
I cant post links but if you go to spyglasstrading.co.uk and click on partners you will finde the fxstreet in the list.
To Whom it many concern
Posts within this link refer to me as being bankrupt. This is factually wrong.
I was involved in litigation, similar to many other human beings, with Robins Futures and I lost the case. I will not discuss its merits
Upon advise of my legal counsel and in order to protect my assets I filed for a Chapter 11 Protection Order so that I could protect my assets and at the same time be able to negotiate a fair and reasonable settlement. The document posted is an affidavit or a sworn testimony and NOT a judgement.
I have negotiated successfully, and I chose to prepay the whole settlement in full and in cash.
I voluntarily withdrew and the case was dismissed. The statement and the case no longer exist.
I am not bankrupt, nor have I filed for Bankruptcy. Nor am I involved in any litigation with anyone around the globe. Nor do I owe anyone a dime.
Unfortunately competitors out there and others who have nothing to offer but Fluff and are in Fear of what we deliver - resort to these underhanded techniques.
MB
This document gives slighty more detailed analysis of Mr Baghdadys finanacial position.
The point is that you declared to the bankruptcy court that your only income was from you training courses and seminars. There is no trading income declared yet you claim to be a trading guru. On top of that you fabricated your TV advert by using Ben Tuckey, your employee, to appear in the ad pretending to be a hedge fund manager. Of course the hedge fund didn’t even exist. Ben’s brother Joe Tuckey also appeared in the ad pretending to be an institutional trader. When you were caught out you threatened all sorts of legal action to have the evidence deleted.
By the way when you say you don’t owe anyone does that include your former staff member who was owed money and was taking you to court?
On Page 29 of 41 of the attached document you’ll see that one of the debts is for $100,000 for students loans, owed since 1999, and this guy is telling us he is the world trading champion and worlds greatest expert on price action trading? Of course this is under his real name, Mahmoud Baghdady, not the name he used now Mike Baghdady.
You clearly do not know what you are talking about and most certainly have not been on one his courses. I too watch the FXstreet webinars , and of course they are intended to plug his company as well as introduce you to his style of trading. Do you think he is a charity , are you one of thse failed traders who scowl the web looking for freebies on how to become rich?I know where my next trade would be on that… I also pay my 15 quid for the weekly sessions and i have made great money week in week out by following his approach. Go on I dare you. Trade his levels for just one week then write a thank you post and an apology…
So if he is such a profitable trader how come he still owes $100,000 on his student loans from 1999 (not to mention his other debts)? Have you read his bankruptcy filing?
I have no reason to defend or attack MB, I am not affiliated in any way shape or form. I have been trading for getting on for 20 years, 16 of which were for a UK investment bank as a futures trader on the London Futures Exchange floor. Following MB approach has by far been my most profitable period as an independent. I care little if he owes money on strudent loans or the local kebab shop, I know his system works for me… Some people trade well with MA and MACD cross overs, I am sure they work for some people, they must because they have been around for donkies, but not me… Price action makes sence. to me at least…
Ok just off to bed having closed out a great price action trade on Euro today. Up £3450 on the day. Thanks MB. Quick question for all you doubters out there before I hit the sack…The next area of relevance in the Euro for the first correct answer: Who knows how many times Donald Trump has filed for Chapter 11?
@simbafx: Don’t you think your comment borderlines character assassination? I don’t see the point with it. Filing bankruptcy may have nothing to do with him being a bad trader. In the U.S. if there’s a business partner dispute, or a legal dispute, this is sometimes one of the things people are adviced to do from a legal recommendation.
Don’t forget this guy was the head trader at New York Board of Trade! You imagine he got there by being incompetent? If you do, you are pretty ignorant about New York and how much competition there is in New York to reach a position like that.
I’ve attended quite a few free seminars in London when looking for training, and I can honestly say I found Baghdady’s program and trading system onf of the most interesting. The presentation was not given by Baghdady himself when I was there, but it was one of the few presentations I attended that actually ‘gave’ me something and was simplified and grabbed my attention. It was real trading rather than marketing. I took a demo and generated 660 pips after the presentation!
alockfly, I agree with you! I think Mike Baghdady is a pro trader. He seems like a friendly guy who loves to teach and share his knowledge. I think his trading platform is very interesting. It makes trading very simple and is different from any platform I have seen. From merely 2 hours in a presentation at his trading center I did over 660 pips in my demo trade! Baghdady has one of the best training in London, in my view. You got a guy who has been promoted as a head trader for NYBOT. Not a small thing. That’s more than you can say of 99% of others offering training (without disrespect. They all have good things to offer for beginners. Just have to chose what is suitable to your personality).
Thanks, Mike, for responding to your critics! I consider you a great trader. I did not meet you myself, but the presentation I had at your trading center was really good and different from any other presentation I have attended. I have also followed a few of your webinars, and they have been very informative. I think inexperienced traders will be sadly mislead by these odd and pointless critics which I don’t find justified at all to demonstrate your skill as a trader. Traders don’t have an easy time finding someone skilled who is willing to teach them, so I am grateful when I do.
Don’t forget this guy ran one of the biggest hedge funds around. You imagine Bernie Madoff got there by being incompetent? If you do, you are pretty ignorant about New York and how much competition there is in New York to reach a position like that.
See how how your logic breaks down?