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IMPORTANT NOTICE: Futures, stock and options trading involves risk and is not suitable for everyone. You should only trade with risk capital you can afford to lose.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY 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 PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

THE MATERIAL CONTAINED WITHIN THIS SITE IS FOR INSTRUCTIONAL AND ILLUSTRATIVE PURPOSES ONLY. RESULTS CAN AND WILL VARY FROM STUDENT TO STUDENT. NO GUARANTEES, PROMISES OR WARRANTIES HAVE BEEN MADE THAT SUGGEST ANY TRADING WILL RESULT IN A PROFIT OR NOT RESULT IN A LOSS. ALL TRADING INVOLVES RISK.

THE LETTERS CONTAINED IN THIS SITE, WRITTEN BY INDUSTRY PROFESSIONALS AND STUDENTS, EXPRESS THE OPINIONS OF THE AUTHORS AND ARE NOT NECESSARILY THE OPINIONS OF NATURAL ORDER EDUCATORS. LETTERS FROM STUDENTS WERE CHOSEN FROM THE MANY LETTERS WE HAVE RECEIVED OVER THE LAST 14 YEARS FROM THOSE WISHING TO SHARE THEIR OPINIONS AND DO NOT NECESSARILY REPRESENT THE TYPICAL RESULTS OF THE AVERAGE STUDENT. HOW, AND IF, THESE STUDENTS CONTINUE TO TRADE TODAY MAY NOT BE KNOWN. FURTHERMORE, SINCE MARKETS CHANGE OVER TIME, SOME OF THE REFERENCES TO STOPS USED AND LOGIC TAUGHT ARE DIFFERENT FROM THAT WHICH IS USED AND TAUGHT TODAY.

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