ELITE Tape | Gold Futures: NQ Wasn't the Biggest Loser

Gold futures posted the week's single largest loss among ELITE accounts, something E-Mini NASDAQ-100 (NQ) or its micro sibling has claimed every single week over at least the last ten weeks of tracked data. Gold (GC) edged out NQ for the top spot, with Micro E-mini NASDAQ-100 (MNQ) close behind in third.

ETF is a futures prop firm for traders who want uncapped Live Elite payouts. Four of the five sessions closed net negative for ELITE accounts this week, extending an eighth consecutive week of net-negative results in aggregate, and Friday, the same session the real market broke its own four-day losing streak, was ELITE's heaviest loss of the week by a wide margin.

The gap between Gold and NQ wasn't massive, but the fact that Gold held the top spot at all breaks a run that has held since at least early July. Full detail on where the volume, profit, and loss went is below.

Micro E-mini NASDAQ-100 (MNQ) led every instrument in trading volume among ELITE accounts by a wide margin, its usual spot at the top of the board, and has held the #1 volume spot every week since we've been tracking this data. E-Mini NASDAQ-100 (NQ) held second, followed by Micro E-mini S&P 500 (MES) and Micro Gold (MGC). E-Mini S&P 500 (ES) and Gold (GC) rounded out the index and metals activity, while E-Mini Dow (YM), Micro E-mini Dow (MYM), E-Mini Russell 2000 (RTY), and Micro Silver (SIL) closed out the top 10 most traded instruments.

MNQ and NQ together made up the clear majority of all ELITE trading activity again this week, the same pair that has anchored the top two volume spots for months. Elite Trader Funding's ATD Calculator helps traders see how a heavily concentrated instrument mix interacts with active trade day requirements, useful context after a week this lopsided toward two products. For the full breakdown of instruments ELITE accounts can trade, see ETF's What Instruments Can I Trade guide, and for ticker symbols across contract families, the Forex and Futures Symbol Guide.

E-Mini Russell 2000 (RTY) led every instrument in profit this week, ahead of Micro E-mini Dow (MYM) in second and Nikkei/USD (NKD) in third. Micro Silver (SIL), Silver (SI), Euro FX (6E), Micro Copper (MHG), Micro Crude Oil (MCL), Wheat (ZW), and Copper (HG) rounded out the profit list.

The profit column stayed thin across the board this week, with no instrument from the Nasdaq, S&P, or metals complex appearing anywhere on it, a continuation of a pattern that has held for several weeks now.

Gold (GC) posted this week's single largest loss, narrowly ahead of E-Mini NASDAQ-100 (NQ) in second and Micro E-mini NASDAQ-100 (MNQ) in third. Micro E-mini S&P 500 (MES) took fourth, followed by E-Mini Dow (YM) and E-Mini S&P 500 (ES). Micro Gold (MGC), Ultra US Treasury Bond (UB), Crude Oil (CL), and Swiss Franc (6S) rounded out the top 10 loss instruments.

Full-size Gold (GC) and Micro Gold (MGC) landed in the loss column together this week, both extending their own multi-week runs on the wrong side of the ledger, covered further in the Pattern section below. E-Mini S&P 500 (ES) and Micro E-mini S&P 500 (MES) also moved together in losses this week, a reversal from last week, when MES topped the profit list while ES alone sat in the losses.

Monday was a shortened session for ELITE accounts, the Labor Day holiday, and it was also the week's only net-positive day.

• Mon 9/7: Relative volume lowest of the week (holiday-shortened session) - Net Profit
• Tue 9/8: Relative volume 2nd highest of the week - Net Loss (Lightest)
• Wed 9/9: Relative volume middle of the week - Net Loss (2nd Lightest)
• Thu 9/10: Relative volume 2nd lowest of the week - Net Loss (2nd Heaviest)
• Fri 9/11: Relative volume highest of the week - Net Loss (Heaviest)

Public market reporting shows US cash equity markets closed for the Labor Day holiday on Monday, while CME equity index futures ran a modified schedule, halting around midday and reopening that evening under Tuesday's trade date, a shorter session than a normal Monday. Tuesday, stocks returned from the long weekend under pressure as fresh U.S.-Iran fighting pushed oil sharply higher, with the Dow, S&P 500, and Nasdaq all closing lower. Wednesday brought a third real-market decline in a row as crude oil broke back above a level it hadn't traded at since July, on renewed U.S.-Iran attacks. Thursday extended the real market's losing streak to four sessions as crude oil pushed further into multi-month highs and Treasury yields jumped, with an August wholesale inflation reading adding to the pressure. Friday broke that real-market losing streak, as the Dow, S&P 500, and Nasdaq all rallied roughly 1% after oil eased and a consumer inflation reading landed close to expectations, calming rate-hike fears. ELITE accounts moved in the opposite direction that day, posting their heaviest loss and heaviest volume of the week the same session the real market recovered. None of this is presented as a cause of ELITE accounts' results, only as verified market context for the same calendar days.

Friday carried the week's heaviest trading volume among ELITE accounts, the same session that delivered the week's heaviest loss. Monday carried the lightest volume of the week by a wide margin, a direct effect of the Labor Day holiday's shortened futures session, and it was also the week's only profitable day.

Streaks and frequency data we're watching:

• E-Mini NASDAQ-100 (NQ) has been a top-10 loss instrument every week since we've been tracking this data, now 29 weeks running, even though it wasn't this week's single largest loss.
• Micro E-mini NASDAQ-100 (MNQ) has held the #1 volume spot every week since we've been tracking this data, 29 weeks running.
• Gold (GC) posted the week's single largest loss for the first time in at least ten weeks of tracked data, a spot NQ or MNQ has otherwise held outright every time.
• Micro Gold (MGC) has been a top-10 loss instrument for 10 consecutive weeks.
• MNQ has itself been a top-10 loss instrument for 7 consecutive weeks, separate from NQ's own longer-running streak above.
• E-Mini S&P 500 (ES) has been a top-10 loss instrument for 7 consecutive weeks.
• E-Mini Dow (YM) has been a top-10 loss instrument for 3 consecutive weeks.

ELITE accounts are sim-funded. The trading activity in these recaps reflects position P/L in sim accounts, not Live Elite payouts. Traders reach an Elite Sim-Funded account either by passing an evaluation or by purchasing Direct to Funding (DTF), which skips the evaluation step, and those who do well may progress to Live Elite, where payouts use real capital and there is no cap.

For a full explanation of how payouts work at each stage, see How Prop Firm Payouts Work: Sim vs Live vs Guaranteed. Last week's recap covered Micro Gold's own extended run in the loss column, Micro Gold Futures: The Market's Worst Day Was ELITE's Best, and the week before that covered NQ breaking its own streak of red sessions, E-Mini Nasdaq Futures: A Green Day Breaks the Streak.

ETF is a futures prop firm for traders who want uncapped Live Elite payouts, built on evaluation paths and account options for every stage of that journey. Evaluations are available for every account size, including the Fast Track Evaluation for traders who want a quicker path to funding. Real trader results, community feedback, and program details are available through ETF's testimonials, rewards program, affiliate program, and trading competitions.

Pricing and Product Disclaimer: Pricing, promotions, and product details referenced in this article reflect information available at the time of publication and may have changed. Visit the evaluations page for current pricing.