Trading Mission ***UPDATE***

Trading Mission Updated Review

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.

More Recordings

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.

Another Complaint

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?

Live Trading

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.

Port-Mortem Autopsy

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:

Trading Mission results

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.

Account Statement

 

 

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39 Comments on "Trading Mission ***UPDATE***"

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Jimmy TM
Guest
Before I start this reply I want you to understand 2 things. Firstly this reply is not intended to be a list of excuses (because I agree that mistakes have been made). This is just an explanation from our side of things. Clearly people want a response and so this is my best effort to provide that. Secondly it’s important t note I’m not just an admin or employee of Carlos’s. I’m a partner on the trading room, I’ve been involved from day 1 and I’ve worked closely with Carlos for over 5 years. In the early days (since our… Read more »
IsItJustMe
Guest

Jimmy, just post both! meaing post: 1) What you are doing now and 2) Carlos’ actual results. Simple. No excuses. Do this and I among many others would join.

jimmy TM
Guest
We discussed this but decided against it because it would be too confusing for people who first find us. They suddenly now have to wade through and make sense of 2 sets of results and in many cases most just wont be bothered and will move on. Everyday we will receive emails asking “which result will I get.” I already answer between 20 – 40 emails per day from people who want to know exactly how much they will personally make trading. They are new to this and don’t understand the reality of doing this day in and day out.… Read more »
Mike
Guest
I attended the two trial days to get an insight. Carlos is a self-confident trader with the necessary patience to make his calls. It has been easy to follow him on most of his trades. He never did get loud or angry and the overall atmosphere during the trading sessions was relaxed and good. After the two days i decided that his trading style doesnt match with my way of trading and that i would feel some discomfort by following his trading method even if he made money every day. It looks like the method he is trading needs to… Read more »
Tom
Guest
Hi Emmett, I like your site and I want to make a comment on this article as I joined trading mission on your advice (the original article). I have now been a member for a while and I really enjoy the service. Carlos does genuinely care (or at least that is the impression I get) and it isn’t just the trades in the room that we get but he gives us target levels for later in the day which we can use to keep trading through the day (I have found these levels to be more accurate than trades taken… Read more »
Fer
Guest

Im going to make it simple …I am a member of tradig mission and Carlosand Juan are honest and very profecional..sometimes we lose some times we win. And yes. His targets are sooo accurate!!! Its amazing!!

Joe
Guest
Great stuff Emmett – another excellent example of why this site makes for compelling reading. I was also in his room yesterday and today which was btw better results wise. Carlos can’t say he wasn’t warned about the issues . His admin guy Jimmy was even here a few weeks back and read the concerns from other readers with the reporting. Come on Carlos – sort your shit out man and be 100% truthful and transparent. Honesty will win you many more subscribers than you’ll lose. One other tip – why not conduct a few minutes review of the trades… Read more »
Robert
Guest

I tried the room when you first reviewed it and couldnt catch the trades – which at that time were very small scalps . He must be going for longer trades now.

Jeff
Guest

Emmett,

I have a question for you.
If you were making money with Carlos back when you first reviewed his trading service why did you stop taking his trades?

Jeff
Guest

My first question was not a knock against you but I believe it was a fair question.
I do think you provide honest reviews.

It is nice of you to do the reviews but if I found a room that actually made money then I would not stop trading in it.

If I could afford an assistant to do what you have them do then I might do that.
Good luck on your future reviews.

David
Guest
I find it interesting that I left a comment the other day and now it has disappeared. Also many of the comments that were posted have likewise disappeared. Well my comment was that I tried the room because of the money back guarantee and I had not yet received even a reply to my email Well I want to update I finally received a reply and my refund was received. Now for my experience in the room. I was in the room for only 3 days when I realized it was not for me. When I go into a room… Read more »
Jimmy TM
Guest
This is a response to David above. . You request for a refund was processed immediately despite our ‘no refunds’ policy as a goodwill gesture. You just didn’t realise it because your email kept bouncing our emails back for some reason. You will see this on my reply to your previous comment on the other page. Anyway I’m glad this is sorted out now. . To anyone who is considering joining a trading room I would urge you to be a member for more than 3 days. You really cannot make a balanced judgement on 3 days. You need to… Read more »
Ron
Guest
Hi Emmett. Thank you for the review. I had got a few invites to join in Carlos trading room. I found it interesting but had a hard time following along with him. Maybe because I have never traded before. At that time I believe that his trading room was $195.00 a month. I was going to join and try to do some simulation on Ninja Trader. I was going to spring for a month membership. But when I decided to join his membership had jumped to $295.00. I didn’t think that his room was worth the 295 a month. With… Read more »
J Bird
Guest

Emmett, since you have pulled the plug on Trading Mission does that mean that there will be no more posts?

Ben
Guest

He’s pretty bad,
I just watch a random video:

He asks his friend in SPANISH what’s the SL risk on the trade is and say’s 97 ticks in SPANISH.

And he’s okay with it.. shrugs it off.. he’s no pro and anyone that doesn’t know SPANISH should even consider.
He didn’t even take TP he recommended.
AVOID.

Rob B
Member
Jimmy TM, I had to respond to your comments. I have not tried Carlos’s room, but the only time I would want to see the room average performance over the trader’s performance would be if I consistently under performed the trader. For example, maybe he is front running orders. Over time I would expect the traders performance to be better than the members, but it seems that is not what was happening. Instead consistently better performance was being documented as room average results. The problem is no one knows what other students are doing, maybe they are just sim traders,… Read more »
Rob B
Member
I tried the trading room the last 2 days for the free trial. I only watched and did not take any trades, but here is what I saw. First I have to give Carlos credit he shows his trades on the chart and they were fairly easy to follow, but he can move the order quickly. I looked at the results posted .vs the actual trades and no slippage is being shown. At a minimum CL is going to have 1 tick of slippage and and with a room of traders copying your calls I think slippage would be a… Read more »
Singh
Guest

The trading results are just plain stupid, what does the average of people have to do with anything? People lie.

Carlos should be posted his own results, that’s it. No BS.

Btw I lost money in the room , month after month

Paul
Guest

Hey Carlos , belated congratulations Mon Ami on being hand picked – (cough cough- paying ) to join the trading elite, the special forces of the trading universe. You are now a Galactic Trade T-I-T-A-N I see.

Does this mean you will finally report YOUR accurate performance figures (rather than some spurious room average) ? – or will you follow your illustrious colleagues from EMini volume trader and Global Trade Room down the path to extinction by continuing to demean room subscribers and potential recruits by this odious slight of hand reporting nonsense ?

Brian Woodrow
Guest
Brian Woodrow
After reading the original review of Trading Mission, and reading this update, I see a problem with Carlos’s risk management. He seems to be mostly trading breakouts in the direction of the trend, but this means that often he is making the amateur mistake of buying after a large move up when price is high, and selling after a big move down when price is low. This works when there is a very strong trend, but he will get whipsawed in choppy markets, which happens most of the time. His risk reward ratio is less than 1:1, and most of… Read more »
Joe
Guest
I attended another of Carlos’s trial days today. One thing worth mentioning is the way he reports performance has changed since Emmett wrote his original review. Carlos now reports HIS (rather than previously a nebulous room average) performance, but only for the first contract (he normally trade 2 contracts) . This is he says because 80% of his members trade 1 contract and therefore is more relevant. (NOTE: Its not obvious from what I can see when this changed so the website performance figures should still be treated cautiously) . This is an improvement on before. I think some of… Read more »
Douglas Ragan
Guest
Douglas Ragan
I received an email ad today inviting me to join his trading room. The email claims he averages 20% a month. After reading your review, it makes sense that what he posts is different than reality. I have noticed that a lot of trading rooms use a demo account versus a live account. This is dangerous, especially in a thin market like CL. There simply is not enough volume being traded to handle stop orders. Your demo account may show you getting stopped out at one price, but in a real account you will certainly have slippage. This is something… Read more »
John Carper
Guest
This is pretty funny but I was in the Carlos’s room with you. I missed a couple of his trades and ONLY lost $480 on two contracts…at least mine was on SIM. I use the NINJA Chart Trader Markers like he does so it is actually pretty easy to follow his calls (quicker than a DOM) but you will notice some pretty “man sized stops” he uses (70 ticks on one trade the other day) and the market seems to pull away from his entries real fast. I have been in his room about 5 or 6 times in the… Read more »
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