ELITE Tape | Micro Gold Futures: The Market's Worst Day Was ELITE's Best

Friday was ELITE accounts' best day of the week, landing on the same session the S&P 500, Nasdaq, and Dow all closed lower after a hotter-than-expected August jobs report revived fears of a Federal Reserve rate hike. It capped a week that opened four sessions in step with a real market shaken by escalating U.S.-Iran conflict headlines, with E-Mini NASDAQ-100 (NQ) posting the week's largest single loss and Micro Gold (MGC) futures extending their own run in the loss column.

ETF is a futures prop firm for traders who want uncapped Live Elite payouts. Three of the five sessions closed net negative for ELITE accounts this week, extending a seventh consecutive week of net-negative results in aggregate, even as Thursday and Friday's back-to-back gains marked the first two consecutive profitable sessions ELITE accounts have posted in at least six weeks.

NQ's loss this week ran more than four times the size of the second-largest loss, a wider gap than the instrument has shown in several recent weeks. 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), E-Mini Russell 2000 (RTY), Crude Oil (CL), and Micro E-mini Dow (MYM) closed out the top 10 most traded instruments.

MNQ and NQ together made up the clear majority of all ELITE trading activity this week, the same pair behind both the week's largest loss and its lightest-volume best day. Elite Trader Funding's Position Size Calculator models how position sizing shifts risk across a book this concentrated in one instrument pair, useful context after a week this lopsided. 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.

Micro E-mini S&P 500 (MES) led every instrument in profit this week, its first appearance atop the profit list in the last six weeks of data, ahead of E-Mini Russell 2000 (RTY) in second and Silver (SI) in third. Micro Crude Oil (MCL), Gold (GC), Natural Gas (NG), Soybeans (ZS), Copper (HG), Wheat (ZW), and Canadian Dollar (6C) rounded out the profit list.

MES topped the profit list the same week its own full-size sibling, E-Mini S&P 500 (ES), landed among the week's losses, covered below, a split result for the S&P complex after several recent weeks of the two contracts moving together.

E-Mini NASDAQ-100 (NQ) posted this week's single largest loss, more than four times Micro Gold (MGC) in second, a wider gap than NQ has shown in several recent weeks. Crude Oil (CL) took third, followed by E-Mini Dow (YM) and Micro E-mini NASDAQ-100 (MNQ). Micro Silver (SIL), Nikkei/USD (NKD), E-Mini S&P 500 (ES), Swiss Franc (6S), and Micro Bitcoin (MBT) rounded out the top 10 loss instruments.

Full-size Gold (GC) and Micro Gold (MGC), the metals complex's paired contracts, 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.

Every session but two closed net negative for ELITE accounts this week, and the two exceptions landed back to back to close the week out.

• Mon 8/31: Relative volume middle of the week - Net Loss (3rd Heaviest)
• Tue 9/1: Relative volume 2nd highest of the week - Net Loss (Heaviest)
• Wed 9/2: Relative volume 2nd lowest of the week - Net Loss (2nd Heaviest)
• Thu 9/3: Relative volume highest of the week - Net Profit (2nd Best)
• Fri 9/4: Relative volume lowest of the week - Net Profit (Best)

Public market reporting shows a week driven largely by an escalating U.S.-Iran conflict through midweek, then a shift toward Federal Reserve rate expectations by Friday, in contrast with ELITE's own book, which stayed mostly in step with the real market's direction for four of the five sessions. Monday, ELITE's third-heaviest loss, coincided with a modest real-market pullback as the Dow, S&P 500, and Nasdaq all closed lower after the U.S. and Iran traded fire for the first time in a month. Tuesday, ELITE's heaviest loss of the week, landed on the real market's sharpest single-day decline, as U.S. strikes on Iranian targets sent the Nasdaq Composite and Russell 2000 lower. Wednesday, ELITE's second-heaviest loss, coincided with a broader real-market selloff tied to AI-stock weakness, with the Dow, S&P 500, and Nasdaq all closing lower again. Thursday, ELITE's second-best result, landed on a real-market rally as Treasury yields paused their recent climb, lifting the Dow, S&P 500, and Nasdaq together. Friday, ELITE's best result of the week, came on the real market's own down day, as a hotter-than-expected August jobs report revived Fed rate-hike concerns and pulled the Dow, S&P 500, and Nasdaq all lower. None of this is presented as a cause of ELITE accounts' results, only as verified market context for the same calendar days.

Thursday carried the week's heaviest trading volume among ELITE accounts, the same session that delivered ELITE's second-best result. Friday, the week's best result, came on the lightest volume of the week. Tuesday, the week's heaviest loss, ran the second-highest volume of the week.

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, its longest run on record.
• Micro E-mini NASDAQ-100 (MNQ) has held the #1 volume spot every week since we've been tracking this data.
• MNQ has itself been a top-10 loss instrument for 6 consecutive weeks, separate from NQ's own longer-running streak above.
• Micro Gold (MGC) has been a top-10 loss instrument for 9 consecutive weeks.
• E-Mini S&P 500 (ES) has been a top-10 loss instrument for 6 consecutive weeks.
• Gold (GC) has appeared as a top-10 loss instrument in 5 of the last 6 weeks.
• Micro Crude Oil (MCL) has appeared as a top-10 profit instrument in 5 of the last 6 weeks.
• Silver (SI) has been a top-10 profit instrument for 2 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. For daily payout structure specifics, see Daily Payout Prop Firms: How Live Elite Pays You. Last week's recap covered NQ's own record-length streak in more detail, E-Mini Nasdaq Futures: A Green Day Breaks the Streak, and the week before that covered a tighter MNQ/NQ margin, MNQ Futures: The Nasdaq Selloff ELITE Barely Felt.

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 1-Step Evaluation for traders who want a single-phase 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.