I know that I’m most definitely going to receive a lot of flack from the acolytes of drumroll Mr. Michael Huddleston, but I don’t really give a hoot if people get butthurt and say hurr durr you’re an idiot. What the heck is up with the Cult on Babypips? The whole thing smells so fishy and nobody is calling bull on the ICT the Saint of Babypips matter.
If one did even a modicum of research on ICT, one’d find that there are a lot of inconsistencies and dodgy content in his posts and activities. Some of his trading methods: fib projection, smart money tool, trader’s trinity etc. are based on voodoo analysis and questionable theorycrafting. Accusation without evidence you say? One of his videos I remember him saying big range days are followed by small range days and vice versa. Now my first reaction was to say: “well, no expletive” , however i was disturbed by the fact that he was demonstrating it by comparing sunday candles to weekday candles… . Who does that? Forgot the video, but in it he also talks about finding the next extreme high/low in the market by adding the candles or something in case it rings a bell…
More you say? It’s amazing what you can learn about people just by lurking. Let’s take two of the Fx-men that regularly posts in his thread: Sweet Pip, akeakamai. The former has followed Mr.Huddleston’s thread since its inception. Yet, this post was made just a few months ago.
The latter on the other hand recently made a “trading tombstone” displaying his overall loss in the forex market. What set them apart is the fact that these are members who have 5 years experience in forex… . Pretty sure there are a lot more, who aren’t as forthcoming as these two.
He allegedly got investigated by the CFTC recently and had his previous videos taken down by “them”. This has already happened in the past according to his interview.
He has personally stated that he resets his equity back to $250k every year. When asked about whether he did turn $250k to $5m in a year, he responds by saying: “pretty wild huh.” He had said that he’s been using many of his trading methods for at least 20 years, yet on his interview he says that he plans to retire when he makes $20m. If he really does make that much, isn’t 20 years more than enough? Is it boasting or inconsistency? I lean towards the latter.
Furthermore, I don’t think most of his followers know that the thread currently stickied in the newbie island isn’t his first one. You can look up the first one in his profile. The thread was discontinued because the Babypips staff found out he was sock puppeting, which is the act of posting in the same thread using multiple accounts with the purpose of misleading the public. He got indignant and openly denied doing such a thing, even though they have solid proof that both accounts use the same ip. Michael then started to act like a spoiled brat, deleting a lot of his previous posts including the first post. One member told him to : “don’t let the screen door hit you in the ass”. 7 months later the new thread was born and all was well. They even stickied it after two years.
ICT has been asked multiple times to provide proof for his trading performance on generic sites that record your trading statistics. To my knowledge he never responded to such a request. Except for one time though, he did start a 1k - 1million dollar challenge. Although that wasn’t much of a proof since he balked when he reached 9k and we haven’t heard anything since then. Did he blow his account, did he suffer a huge drawdown? He doesn’t want the publicity you say? He has a twitter, blog, webinars, and multiple threads on this forum. He accepted the interview of babypips, told you openly about his earnings and shown his face. Publicity shy? Me thinks otherwise.
The followers in his threads are like microcosms of the market. Even new comers are influenced by the rampant herd mentality present in the thread. They keep on stroking his ego telling him things along the line of : “Omg ICT is the man, ICT is the best forex mentor” Why? Well, because everybody else is doing it and we want to milk him for all he’s worth and hope he stays around long enough to hand us the secret to making serious money on a plate.
Have a great weekend folks
Good Luck and Good Trading :13: