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THE DATA CONTAINED HERE IN ARE BELIEVED TO BE RELIABLE BUT CANNOT BE
GUARANTEED AS TO RELIABILITY, ACCURACY, OR COMPLETENESS; AND, AS
SUCH ARE SUBJECT TO CHANGE WITHOUT NOTICE. CFEA WILL NOT BE
RESPONSIBLE FOR ANYTHING, WHICH MAY RESULT FROM RELIANCE ON THIS
DATA OR THE OPINIONS EXPRESSED HERE IN.
DISCLOSURE OF RISK: THE RISK OF LOSS IN
TRADING FUTURES AND OPTIONS CAN BE SUBSTANTIAL; THEREFORE, ONLY
GENUINE RISK FUNDS SHOULD BE USED. FUTURES AND OPTIONS MAY NOT BE
SUITABLE INVESTMENTS FOR ALL INDIVIDUALS, AND INDIVIDUALS SHOULD
CAREFULLY CONSIDER THEIR FINANCIAL CONDITION IN DECIDING WHETHER TO
TRADE. OPTION TRADERS SHOULD BE AWARE THAT THE EXERCISE OF A LONG
OPTION WOULD RESULT IN A FUTURES POSITION.
HYPOTHETICAL PERFORMANCE RESULTS HAVE
MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.
NO REPRESENTATION IS BEING MADE THAT
ANY ACCOUNT WILL, OR IS LIKELY TO, ACHIEVE PROFITS OR LOSSES SIMILAR
TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES
BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS
SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL
PERFORMANCE RESULTS IS THAT 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 ALSO 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. |
