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Hypothetical Performance Disclosure

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 of 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 which can adversely affect trading results.