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DISCLAIMER

*FUTURES TRADING INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. MANAGED FUTURES ACCOUNTS CAN BE SUBJECT TO SUBSTANTIAL INCENTIVE FEES BASED ON PERFORMANCE. THE NUMBERS WITHIN THIS WEBSITE INCLUDES INCENTIVES PAID ON PERFORMANCE FEES, BUT IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS IN THE FUTURE TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS.

THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FUTURES TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE IN FUTURES TRADING CAN LEAD TO LARGE LOSSES AS WELL AS PROFITS. FUTURES TRADING IS NOT SUITABLE FOR ALL INVESTORS, AND INVOLVES THE RISK OF LOSS. YOU MUST BE AWARE OF THE RISKS OF FUTURES TRADING AND BE WILLING TO ACCEPT THEM. DON’T TRADE WITH MONEY YOU CANNOT AFFORD TO LOSE.

CFTC RULES 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS, UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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