What is happening at Trading Mission?
On January 31st, 2015 I published a review of the Trading Mission day trading room. At that time, that room had been broadcasting since August 2014. Prior to January 31st, I had collected 49 hours of live trading video. I was impressed with the truth and candor of Carlos Diaz.
During the review period, I was able to replicate, in a real money account a profit of over $1,000. After my review was posted, google then quickly pushed my review up the search engine rankings. In fact, if you google search, “Trading Mission, or Trading Mission Review”, you will find that my written review is actually outranking Carlos Diaz own website.
During the month of February and March, I personally received confirmation from over 20 people that became paying subscribers, only because they had read and believed in my review. I immediately began to think about my role and the personal responsibility in recommending any trading service. Its one thing to write a blog post and express your opinion, but I had people contacting me with heart felt messages and thank you’s.
Things Start To Break Down
On the first week of April, I began to receive private messages from subscribers. They were expressing concerns that they could not match the trades inside of the trading room, and that some of the trades were not being reported exactly like what was happening inside of the trading room.
How could this be? This did not sound like what I had experienced back in January. I went back over the record of trades posted at Trading Mission, the only thing that I noticed was that the ES trading results where poor, and most of the profits were coming from crude oil. Shortly thereafter, Carlos decided to just focus on crude oil futures, which is OK. I did not find this suspicious. However, during the month I began to receive more emails from upset subscribers. And, some were beginning to post messages on my blog that described the situation. There was obviously smoke, but I could not be sure if a fire existed.
From April 20-24, I attended the trading room anonymously and once again began recording video. I immediately could see what was happening. On Carlos website, he was reporting results trading only a single contract, yet on the screen recordings he was clearly trading two contracts. However, I did not detect any real fraud or abuse, he was trading profitably, but not reporting correctly.
In addition to not reporting correctly, I really took a very close look at his entries and exit prices. This was not easy. However I did notice a few “mystery ticks”. Carlos was starting to stray from the principles that he had set for himself only a few months prior.
In addition to me noticing the “mystery ticks” and the non-reporting of the second trading unit, a few people on my blog got into an exchange with Carlos promoter, Tommy, about these “mystery ticks”. Tommy did his best to explain, but in reality, at that moment, the trust was broken.
On May 1st, I got a very compelling complaint from a lady that reads my blog. She was distressed because Carlos was making money, but she was not. I knew that sometimes Carlos will jump into a trade, or out of a trade with little notice. But I had no recent data to suggest that things had actually gotten to a breaking point. The point where I need to rewrite a review.
Once More Into The Breach
The nice lady (you know who you are) that sent me the email compelled me to get back into the room. I replied that I still think that Carlos is still pretty good, but maybe she just could not get into and out of the trades quick enough. She did a good job of convincing me otherwise, via a telephone call to my home. And so, on Sunday night, May 10 2015, after speaking with her. I agreed to attend the trading room and trade with my real money, live trading account. You cannot bullshit a live account. She challenged me to follow along the best I could, how could I refuse?
And so this morning, I attended the Trading Mission trading room with my screen recording software fired up, and my money on the table. I was going to prove her wrong! The trading session lasted 3 hours. The video below is that trading session. However, nobody has three hours to review and be granular. So, I edited the video down to the exact moments that Carlos entered and exited his trades. In addition, I also kept my live trading DOM right on top of the screen, so that my lady friend could see that I was actually trading live. The video below is only about 3.5 minutes. Its contains all of the information that you need to know. Enjoy the viewing.
So, if you watched this video you can clearly see that I lost $840 by taking the trades exactly as Carlos recommends in real time. One thing that I discovered with the real money trading account is that slippage in the crude oil market is a really big issue. On a single trade, my stop order was hit, but was not able to fill until $60 dollars slippage later. Wow. I was surprised at how slippery the slippage is in trading crude. This sort of slippage is nonexistent in the stock index futures or the bond futures, but hey, this is part of the game. I cannot blame Carlos because of the slippage.
However, I can blame Carlos for the trade reporting. Immediately after the room closed, I went to the performance page on located at Trading Mission and Carlos had posted the following:
As you can see above, trade #478, Carlos is only reporting trading a single unit. On the screen recording, he clearly trades 2 units for a loss of $500, on the very first trade. So why only post a loss of $230 on a single unit?
On the second trade, #479, Carlos is reporting a single unit loss of $260. The screen recording clearly shows a best case loss of $320. I actually had a loss of $380. Carlos never mentions whether he is experiencing any slippage.
On the third trade, #480, Carlos is reporting a single unit gain of $130. I was able to only produce a single unit gain of $80. WTF?
On the fourth and final trade, #481, Carlos is reporting a single unit loss of $110. I reported a two unit loss of $120. WTF!?
As I go back and look at the screen recordings, I am sitting here asking myself just what in the hell is Carlos looking at, and what is he reporting on his website. There appeared to be 200 people in today’s trading room, and I am sure that they were thinking the same thing I was thinking. In fact, my lady friend texted me, “I TOLD YOU SO!!!”. So, the final tally is that Carlos reported a $470 loss for the trading day, trading only a single trading unit. However, as the recording above clearly shows…the loss for the day was over $800.
Pulling The Plug
Obviously, the trades are not being reported by Carlos with complete honesty. He is obviously inflating, confusing, using slight of hand, whatever you want to call it. But the sad and simple truth is that Carlos is now more interested in keeping subscribers than reporting his actual trading results. This is sad because his room started off with so much promise, but appears to be off the rails and no longer dependable at reporting the truth. One more thing I want to add, the Trading Mission trading room is a signal service, meaning we are not there to learn how to use indicators or interpret the markets…we are there to copy the trades and hopefully make money. We don’t care why the markets go up or down, only that the signals that we are paying for are replicable and reported with absolute honesty. Based upon what I saw today, and the reports that I have received from my readers, it is now time to pull the plug on Trading Mission.
Carlos, After You Read This
I hope that you make changes and get back to running the trading room that so many of us enjoyed and prospered from last year. In my heart, I do not believe that you are a bad person. But I believe that the pressure of producing profits on a daily basis and not losing subscribers has caused you to drift away from your core values. I honestly hope that you begin, from this moment forward to report all units traded, exactly as you trade them. At the end of the day, us subscribers can accept our loses and move forward with you…but we cannot move forward if you continue to report trades such as today. I sincerely hope that in the not too distant future, I can once again review Trading Mission and provide an excellent review. We just want accurate reporting.
To My Readers
I apologize. As I sat there today, and watched the massive amount of people in the chat room, I could not help but think of how many where there because of my original trading review. I am sure there were many. And I sure that many of you made the exact same trades today that I made, lost money, and are confused by how Carlos is now not reporting the trades with accuracy and authenticity. My sincerest apology. Below is an image of today’s loss. Thank you for reading, and don’t forget to leave a comment below. I even appreciate and answer the angry comments. Everyone’s voice is heard.