MOTU Apprentices
Posted: Tue May 24, 2011 12:54 am
Successful City traders will no doubt claim that a competitive edge, nerves of steel and a willingness to take risks are all character traits essential for the job.
But one veteran broker is so confident that anyone can be a winner on the stock exchange he's invested £1.5million of his own money to prove his point.
Mike Baghdady of London-based Training Traders is giving 15 novices £100,000 each to trade on the financial and commodity markets in a bid to prove that no specific skill sets are necessary to be a success on the trading floor.
The scheme is not unlike BBC's The Apprentice where candidates pit themselves against each other to win the approval of, and a job with, Sir Alan Sugar.
All that is needed, Cairo-born Mr Baghdady claims, is a willingness to follow a certain set of rules.
About 8,000 people applied for the three-year project and those selected include a taxi driver and a housewife.
The 'apprentices' will undergo a rigorous training regime during which they will learn Mr Baghdadi's secret trading strategy based on a system called Price Behaviour.
They are then unleashed on to the trading floor at Training Traders, in Central London, to be pitted against each other over three years, all vying to out trade rivals to win a permanent role on Mr Baghdady's money-making machine.
At the end of the three years, Mr Baghdady will decide who is hired and who is fired
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