Trading Mission Review - The good, the bad and the ugly! If Carlos calls a trade and it wins then he will generally close the room and we call that a profitable day. This can take anywhere from 10 minutes to 4 hours in my experience. If Carlos calls a losing trade we will usually stay to trade again and win it back. Sometimes if the market conditions are bad Carlos will call it a day there and we will finish for the day on a loss. Now I know what you are thinking. This all seems a bit strange. Why not open for 4 or 5 hours everyday and just trade the market conditions? This is what I thought but Carlos has shown me a new way. It's all about having a specific daily objective and finishing once that objective is hit. This takes some of the stress out of trading and also stops you from over trading. It took a while to get used to but I really love the approach now. Carlos also has a specific amount of losing trades he is willing to suffer. So if he tried for 3 trade set ups and each fails he will close the room and we all return the next day to trade with him to make up the losses with profits. The effect is that most members seem to be making the same profits each month. One thing I really struggled with at first was the stop losses. Sometimes they are larger than I would like. I have always used SL's like how we are taught as newbies - to always aim for more than I risk. However when following Trading Mission you will be using a SL which is calculated using price action. This means you will sometimes risk more than you are aiming to gain. I really hated this at first but over time I have come to accept that this is how the professionals do it (Carlos is a professional fund manager). What I have found is that the Trading Mission strategy generally works over the course of a month. If you are expecting every day or even every week to be profitable then you can forget it. That is not how this room works. To be honest, that just isn't how trading works in general. If you can't take losses then I recommend you leave trading and get a regular job. If you keep the faith and keep trading Carlos you will generally come out on top. In the last 6 months I have had one losing month and the loss when just -$500 at the end of the month. That isn't bad considering my best months have netted me upwards of +$4000 profit! Yes my results are impressive (or at least I think so) but does that mean yours will be too? Definitely not. Just like with everything in life this will be a good fit for some people and a bad fit for others. If you are the kind of trader that loves action and thrill that comes with taking huge risks then this room is not for you. Although the SL's can sometimes be fairly big I would consider Carlos a very conservative trader. His money management is very tight and the most likely cause of being stopped out is because he moves his stop during the trade in order to lock in small profits and reduce risk. I often play it more risky than he does because I believe in his calls now after witnessing so many wins. However he is looking after the guys with smaller accounts and so he often plays it a little too conservative for my liking. That's why I have slightly adapted the way I follow him to suit my own goals and risk assessments. So if you are looking for tons of action then this might not be for you as we are often waiting like a sniper for the perfect set up to appear. We are also trading just before the NYC open starting at 08:30am EST so if you can't trade at that time then this won't be for you. We are seeing some very nice moves around this time though so I recommend you make time to trade with us then.
The Oil trades are really why myself and other members are attending but Carlos and the Trading Mission team will sometimes take set ups on the Emini S&P500. I have found these trades to be much more unpredictable and less profitable than the oil trades so I know just sit them out. Maybe I will trade them in future if things settle down but for now the Emini seems just too volatile. Trading Mission is about following and trading like Carlos. It is not a teaching based room and Carlos is not revealing his strategies for the trades in these sessions. He will often take time out to analyze the market and you will glean some amazing insights from the sessions but these are really just a bonus. The focus is on trading and there will be times when Trading Forex South Africa it's just dead air and a chart ticking away which Carlos does his calculations in the background.