New York (HedgeCo.net) – The biggest trading experiment in London City history starts this morning when 20 traders hand-picked from over 10,000 applicants place their first live trades in the markets.
Thirty-five year market veteran Mike Baghdady is backing his apprentices to the tune of £100,000 each ($157,000), and allowing them to keep a proportion of their winnings.
“All new turtles have already traded their former lives – from a house wife, a hotel receptionist, a taxi driver, a former actor, a security guard, an Harvard graduate, a former airforce pilot, and a Blackjack player – to become the new hedge fund managers and work at City-based Training Traders. “We’re putting our money and our experience on the line to pioneer a unique social experiment by taking people from varied backgrounds and training them to become successful traders.” Baghdady, said.
Baghdady hopes to prove to the world that anyone can become a successful trader if they follow the rules and pay homage to Richard Dennis and his original turtle traders which caught the world’s imagination, and later was immortalised in the film, Trading Places.
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