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Industry Regulations Currently Mandate That We Provide The Following Disclaimer---Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likiely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance is they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can adversely affect actual trading results.
There are
numerous other factors related to the markets in general or to the
implementation of any specific trading program which cannot be fully accounted
for in the preparation of hypothetical performance results and all of which can
adversely affect actual trading results. Past performance is not indicative of
future results. All trade information is to be considered hypothetical. All
trade results are to be considerded hypothetical.