After a great turnaround month in August, mostly due to a concentrated short in FFIV held in front month put contracts.

The first week of September started out a bit small for me as I was trading the NQ 9, and 12 index futures. The chop in the ES, YM, and NQ is frustrating.

As I refine my trading setups, I find that in isolation they appear separate, but when the action is moving, I find myself integrating all my setups as opportunities reveal themselves some become more fitting than others.

The outsize returns so far have been in the GC 12 gold contract. 100 oz of gold where every point is worth $100 is a rascal to work with. I have found from reading The Disciplined Trader by Mark Douglas he touches on understanding fear and having the willingness to change perspectives as a vital element in trading success. Ultimately learning to trust myself proved itself out well.

As the setups in gold revealed themselves and using fib extensions, and Elliott Wave EW counts to estimate direction and magnitude, the trades worked out incredibly well.

Est Gross Profit
1. +30,000
2. +120,000
3. +40,000

Then a couple 17k and 14k trades.

It just proves to say that when I keep to the system, even though the stop price area is my new obsession, I find the timing to be well enough that 6-7 out of 10 may be favorable excursions from the start.

Huge price moves in the markets given the volatility of politics and news.

One final very interesting point. The fib extensions where measuring Gold to fall in price a day before the Fed rate decision, and Gold still stayed on course regardless of the news. Seems that it was a foregone conclusion where it was headed and nothing was going to change that.

Eli...out