Apprentices Apply in Their Thousands to Become City Traders
A call by one of the world's most experienced stock market traders for apprentices to come and play the markets with him, taking no losses if their bets fail, has seen a massive country-wide response.
More than 3,500 people from all walks of life, the length and breadth of the UK, have registered to join Mike Baghdady on his Training Traders floor in the City of London, using his unique trading system to earn a share of their profits.
Baghdady aims to offer every successful applicant a fully-fledged Hedge Fund manager role at the end of their initial 12-month training period, to manage corporate funds.
Hopefuls who have signed up for the 'New Turtle Traders' programme include a professional footballer with a Yorkshire league club, a London surgeon, a professional poker player, a plumber working at the Olympic Village, a student offering to quit university, lawyers, finance workers, a London cabbie and a wide range of workers who had been made redundant.
One application from a Bristol-based artist reads: "Dear Mr Baghdady, I have been described as a surf bum, singer-songwriter, gym rat and lounge lizard ... I would however move heaven and
earth to call myself a City trader."
Used by such financial institutions as ING and Deutsche Bank, Baghdady's prized system of 21 golden trading rules has been honed over his 34-year career as a professional trader in New York, the Middle East and London.
It is the only system of its kind globally to be based purely on price behaviour (exploiting trends and human emotions) and saw him win last years live trading competition in Frankfurt.
Because the Price Behaviour system is completely rule-based and captured in proprietary software, it can be used as the foundation to accelerate the training of novice traders, Baghdady explains.
Our unique methodology creates advantages to the trader. We are prepared to fund this claim to make history with our trading model. This is a new career opportunity to be trained as part of a new breed of hedge fund managers, he adds.
It is a modern-day recreation of an original experiment run 25 years ago by a hugely successful trader in Chicago called Richard Dennis, which he dubbed 'The Turtle Traders'.
Within four years of starting, Dennis apprentices had made him $175m on his initial investment in them. Of the apprentices Dennis picked from the 3,000 who applied, there was an actor, a security guard and a blackjack player. His most successful trader was Curtis Faith, 19, who made $31m profit on his initial $1m stake.
Successful applicants to the New Turtle Traders programme are expected to make no personal investment, take no losses and pay no commissions. They are expected to start early, the same as professional traders, at 0730 Monday-to-Friday.
A website has been set-up to explain the Turtle Trader philosophy and the Apprentice Programme: http://www.newturtletraders.com
Applications must be sent by 15th November to:
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Mike Baghdady is a key market analyst, syndicated magazine columnist and commentator for financial television stations. He was apprentice to Alan Shaw, widely considered to be the father of modern Technical Analysis learning, at Salomon Smith Barney before reaching the pinnacle of his professional career as Head Trader on the New York Board of Trade.
