Risk Disclosure

• Trading in equities and derivatives (futures & options) involves substantial risk of loss and is not

suitable for everyone. You can lose more than your initial capital in derivatives.

• Algorithmic and automated strategies can lose money. Past or backtested performance is hypothetical and is

not indicative of future results. No returns are guaranteed or assured.

• Automated systems can fail because of software defects, data errors, connectivity loss, broker or exchange

outages, or extreme market conditions such as gaps, circuit limits and illiquidity.

• Only allocate capital you can afford to lose. Review your positions regularly.