Eleven positions closed in seven days as the August breakout wave finished trailing out. This is what a trend system's payday actually looks like, and what it cost to hold through.
The thrust that started in mid-August is over, and the tape has gone quiet in the way that matters to a breakout system: 26 of the 29 markets we track are now in their low-volatility regime. Compression this broad is where the next wave of signals is born, but it produces nothing tradeable while it lasts.
Two markets sit within one ATR of their upper channel; none sit near their lower one. News flow stayed heavy on bitcoin, over a hundred items this week, skewed positive, while the price range narrowed. Loud tape, quiet price.
Every winner below exited the same way: a trailing stop that had been ratcheting up behind the trade for weeks finally got touched. Nobody picked a top, the rule gave back the last stretch of each run, on purpose, and kept the rest.
Three further signals fired during the week that the book did not take: position sizing hit the exchange's minimum lot. Small-account frictions are real; we count them instead of hiding them.
The record now stands at −7.17R after 67 closed trades (49 days live). Against the probability envelope fixed on 19 July 2026, before the first trade closed, that is inside the band and below the 25th percentile, up from a stretch below the 5th that triggered our pre-committed review in August. The full chart is on the Record page.
This month we ran the largest research program in the book's life: eight different ways to keep more of a trade's peak, partial profit-taking, take-profit-and-re-enter, faster trails, profit floors, and finally a "corridor" floor that protected only mid-sized trades and released for the large ones.
Seven of the eight failed against their pre-registered pass bars. The corridor floor was the closest miss we have ever recorded: it kept roughly nine-tenths of the big years' profit, and the bars demanded more. One idea survived and is staged for the scheduled October review: an early exit for trades that have gone nowhere after their first week, the only variant that provably never touches the winners.
All eight verdicts are in Tested & Rejected with the reason each failed. The direction is closed; we will not be re-litigating exits when the next drawdown makes them tempting.
Not investment advice. Past performance does not predict future results. We publish outcomes, not recommendations. Closed trades appear after a 48-hour delay; figures are R-multiples on the same basis as the public record.