Need Help Trimming with Letters please

I am trying to use letters inside a photo and trim those letters out so that the photo has transparent letters inside.

I weld the text together. Select the text then select the photo and choose Arrange - Trim. It does trim but for some reason it is trimming way inside the outline area and not actually trimming the outline. Please help explain what I am doing wrong... THANK YOU!

Here is my photo. I would like the trimming to be closer to the black outline.