Trading Risk Disclosure
Past Performance is no guarantee of future results.
It should be understood that investments through any means including, but not limited to, currency trading, stock trading, futures trading, banking strategies, and other investment techniques, could involve high risk.
There is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is subject to unusually high risk. Only surplus funds should be placed at risk.
cftc.gov CFTC RULE 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.
Trading foreign currencies is challenging and carries a high level of risk. This trading commonly referred to as Forex or Forex or Spot Forex is not suitable for all investors. The high level of leverage in Forex accounts is often attractive to traders/investors yet this leverage can most certainly work against you unexpectedly.
You should carefully consider your investment objectives, level of experience, and risk parameters. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from a certified trading adviser if you have any doubts.
In addition, there are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. There is the possibility of an internet breakdown of reception or the routing configuration of your equipment or reliability of its connection.
As with any margined investment you must know that you can lose more funds than you deposit in the forex margin account. You should maintain a strict risk management system but with any margined account the fact is a market event or market movement may cause you to lose more money than you have on deposit.
High Risk Investment
Commodity Futures Trading Commission Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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.
The content provided in this site is put forward in good faith and believed to be accurate, however there are no implicit guarantees of accuracy. The reader accepts that by using this information, he or she will not hold EarnOpen Forex, (‘ EarnOpen Forex ‘) responsible for decisions based on information from this site.
This website may contain links to other websites. These links are provided as references to help you identify and locate other Internet resources that may be of interest. These other websites were independently developed by parties other than EarnOpen Forex does not assume responsibility for the accuracy or appropriateness of the information contained at, or endorse the viewpoints expressed at, such websites.
Currency trading is risky, it involves substantial risk of loss, it is not appropriate for everyone, and therefore only risk capital should be used for trading. Risk capital: money that a person can afford to lose. Past performance is no guarantee for future results. Actual trading results may vary.
Market Opinions of Our Staff
Any opinions expressed by our company’s representatives regarding the prices of specific currencies and the direction they will take in the future are purely opinions. They do not necessarily represent the opinion of EarnOpen Forex and are not guaranteed in any way. In no event shall EarnOpen Forex, have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided verbally or via the Internet, or any delays, inaccuracies, errors in, or omissions of information.
Internet Trading Risks
Furthermore, there are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since EarnOpen Forex, does not control signal power, its reception or routing via Internet, the configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. EarnOpen Forex employs back up systems and contingency plans to minimize the possibility of system failure, and trading via telephone with your broker is always available.
Risk Disclosure Statement
This brief statement does not disclose all of the risks and other significant aspects of trading in leveraged investments. In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other circumstances.
These are the minimum standards that you should establish for your trading. As you advance as a trader, you will broaden your education beyond these precepts.
If you can’t afford to lose it, don’t trade it
Everyone expects to have a positive experience with trading. Any good trading system will teach you how to protect your principal, but remember that you must be prepared to lose all of it. If you aren’t emotionally ready to lose that principal, then you shouldn’t trade that money (or, trade a smaller amount you’ll be comfortable with).
You are in control of your trading account.
You’re choosing to trade with a live account because you’ve seen great demo results and believe you have a chance for success. You are not trading just because you heard that somebody else did well. You are responsible for your account.
You are also responsible for your emotions about trading.
Keep control over any fear, greed, or sadness, and always feel free to share your excitement with anyone!
Read the Manual
The Member’s Training Manual is provided for your education, read it. Get yourself up to speed with the rest of the group. Then, a few months later, go back and re-read it. You’ll be amazed by what you pick up, since you’ll have had your own experiences by then.
At a minimum, you must understand Support/Resistance and Fibonacci sequences, even if you do not plan on trading manually.
Read the website as well. All of it.
Keep your accounts separate
If your first live account is for using Smart Trader or the like and you plan on manual trades, open a second account. Keep your systems separate.
Never manually trade for fun (don’t just guess, don’t trade without a strategy).
When speaking with other traders about your account’s profit or loss, use percentages (%), not dollar amounts. This is to protect both of you. If you both made 10% since last year no one’s feelings will get hurt, even if one of you is trading $10,000 and the other is trading $250,000. If other traders ever begin to pressure you for a dollar amount, politely refuse and re-offer the percentage gain.
Once you have recouped your startup costs, consider pulling some out of the account to pay yourself back.
Consult your tax professional. Do your taxes correctly, whether you have made a profit or not.
Treat your account like its long-term, and it’ll serve you for many years. Start trading your account gradually (less than 0.05 lots per $10,000), and as the profits increase, you can slowly increase your lot size. The goal is that any drawdown will only be dipping into your account profit, not the principal.
Don’t overtrade your account. Don’t trade $10,000 like it is $100,000 just because you can press a button. Save your margin for a rainy day. It’s a marathon, not a sprint.
Don’t mentally spend the profit in your account.
Until you transfer funds back to your bank account, they’re only numbers in a computer. So don’t spend it early. Whenever you need to remove some money, go ahead and take it. Once it is in your bank account, it is actual “realized” profit that you can spend.
Trade the pairs that perform well
Run multiple demo accounts before you become a member. Then, once you are a member trading a live account, keep running demo accounts. One of the best reasons to demo trade is to stay flexible with your pair choices. That way, you’re able to change the pairs you trade when necessary, without feeling loyalty to pairs that aren’t performing as well.
Past Performance is No Guarantee of Future Results, but past performance is what we use to determine what may happen next (since we’re sold out of crystal balls). This adage (PP is NG of FR) works both ways. If you have seen some winning trades this week/month/etc., there is no guarantee that they will continue winning. Conversely, if you have seen some losing trades this week/month/etc., there is also no guarantee that they will continue losing. All results on this or any related site or document are hypothetical unless otherwise stated.
The reason our members trade certain pairs is based on each pair’s performance (i.e., how well each pair’s movement conforms to the rules of the software). It is based on history, not guessing. Often, the pairs run for months with no problems. Incidentally, “no problems” does mean no losses, see below.
Hitting stop losses are a normal part of trading.
Every trading system has to hit stops eventually, but it doesn’t mean something is broken; it only means that you’ve lost some time. When your system is making a profit on average, it may just need some time to recuperate any current loss. No one ever promised that you’d have zero losing trades, so don’t be surprised when you hit a loss.
I acknowledge and accept the statements above, and I will review this document a few times per year (or as needed).
We collect the minimum amount of information about you that is required to provide you with a satisfactory service. This Policy indicates the type of processes that may result in data being collected about you. Your use of this website gives us the right to collect that information.
We may collect any or all of the information that you give us depending on the type of transaction you enter into, including your name, address, and email address, together with data about your use of the website. Other information that may be needed from time to time to process a request may also be collected as indicated on the website.
We use the information collected primarily to process the task for which you visited the website. All reasonable precautions are taken to prevent unauthorized access to this information.
We do not disclose any personal information obtained about you from this website to third parties except when we need to do so in order to complete the transaction. We may also use the information to keep in contact with you and inform you of developments associated with our business. You will be given the opportunity to remove yourself from any mailing list or similar device. If at any time in the future we should wish to disclose information collected on this website to any third party, it would only be with your knowledge and consent.We may from time to time provide information of a general nature to third parties – for example, the number of individuals visiting our website or completing a registration form, but we will not use any information that could identify those individuals.
Changes to this Policy
Third-Party Service Providers
Memberships are non-transferable. Any and all monies or compensation paid to EarnOpen Forex are non-refundable. You may suspend or cancel your membership at any time to avoid further charges for monthly dues.
This can be done from your member login (or back office) and is available to you twenty four hours a day. We do not prorate or return any unused portion of the initial sign up, registration or monthly membership fee or fees.
By becoming a member of EarnOpen Forex you agree not to ask, request or demand your bank or credit card provider for a refund or chargeback at any time after agreeing to the club membership. Any attempt to do so may be considered a breach of contract and you may be held liable in a competent court of law.
Because we offer unlimited free use of our software on a practice account from any broker of your choosing, you agree not to become a paid member until you are ready. We recommend practicing with our software and your strategies for a minimum of six months or more. Your decision to become a paid member should be based on you having personally experienced trading results that meet or exceed your expectations. Past performance is no guarantee of future results. It is unreasonable and perhaps irresponsible to make any commitment to trading with real money on a live account with only a few weeks of experience. You will not experience all of the movement the market can expose you to in such a short time.
End User License Agreement
YOU MAY NOT INSTALL OR USE THIS SOFTWARE UNLESS YOU HAVE CAREFULLY READ THE TERMS AND CONDITIONS SET FORTH BELOW:This End User License Agreement (the “Agreement”) is an agreement between you and EarnOpen Forex, and its subsidiaries, affiliates and licensors (collectively, “EarnOpen”). This Agreement governs your use of this software and its related documentation which you may download from EarnOpen’s website (the “Software”).BY INSTALLING OR USING THE SOFTWARE, YOU ARE CONSENTING TO BE BOUND BY THIS AGREEMENT. IF YOU DO NOT AGREE TO ALL OF THE TERMS OF THIS AGREEMENT, THEN DO NOT INSTALL OR USE THE SOFTWARE. IF YOU INSTALL THE SOFTWARE, THE TERMS AND CONDITIONS OF THIS AGREEMENT SHALL BE DEEMED FULLY ACCEPTED BY YOU.
(a) Subject to the terms and conditions set forth herein, EarnOpen hereby grants you a personal, non-sub-licensable, non-transferable, non-exclusive license to download, install and use the Software solely as set forth in this Agreement and the accompanying documentation, and solely for your personal noncommercial use only.
(b) If the Software was provided to you on a no-charge or Demo basis, then, in addition to the other provisions and limitations hereof, the Software may be used only for the purpose of using it on a practice account, unless you purchase a full-use license.
(c) During the term of this Agreement, you may only use one licensed copy of the Software at any one time per live trading account. Notwithstanding the foregoing, you have the right to download up to six (6) copies of the Software during the term of this Agreement for an additional fee per copy. The price for additional copies can be found on the company web site.
(i) When you first use the software, the software will require you to input your live account number at the top of the dialog box for authentication, This will provide you with a right of access. You must request activation for your live account by using the outlined procedure found in the back office of the company’s web site.
2. Reservation of Rights; Restrictions.
All rights not expressly granted by EarnOpen in this agreement are reserved. Except as otherwise expressly provided under this Agreement, you shall not, and shall not allow any third party to: (a) decompile, disassemble, or otherwise reverse engineer or attempt to reconstruct or discover any source code or underlying algorithms of the Software by any means whatsoever, to the maximum extent such restriction is allowable under applicable law,
(b) alter, modify, enhance, or create a derivative work or improvement of any part of the Software,
(c) remove, alter, or obscure any product identification, copyright, or other intellectual property notices embedded within the Software, (d) resell, re-license or sub-license, lease, lend the Software, or otherwise grant rights in the Software to any third party, (e) use the Software for time-sharing, hosting or group trading or COOP purposes, or (f) use the Software for any commercial use. You understand and agree that (i) the Software is licensed to you and not sold; and (ii) EarnOpen retains title to the Software (including but not limited to any code, characters, storyline, images, photographs, animations, video, music, text, “applets” incorporated into the Software, and any related documentation), and all associated copyrights, trademarks, and other intellectual property rights therein.
(a) TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, the
Software is provided to you “AS IS,” and your use is at your own risk. We do not make, and hereby disclaim, any and all other express, implied OR STATUTORY warranties, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, no infringement of third party rights, and any warranties arising from a course of dealing, usage, or trade practice. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF OR LIMITATIONS ON IMPLIED WARRANTIES, SO THE ABOVE EXCLUSIONS AND LIMITATIONS MAY NOT APPLY TO YOU.
4. Limitation of Liability.
(a) To the maximum extent permitted by applicable law, NEITHER EarnOpen NOR its suppliers and partners shall BE LIABLE TO YOU FOR ANY lost profits, cost of substitute goods or services, or any form of indirect, special, incidental, consequential or punitive damages from any causes of action ARISING with respect to this Agreement or the SOFTWARE licensed hereunder, whether arising in tort (including negligence), contract, strict liability or otherwise, WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. IN NO EVENT SHALL EarnOpen’S AGGREGATE LIABILITY UNDER THIS AGREEMENT EXCEED THE AMOUNT ACTUALLY PAID BY YOU FOR THE SOFTWARE.
(b) You acknowledge and agree that the provisions under this Agreement that limit liability, disclaim warranties, or exclude consequential damages or other damages or remedies are essential terms of this Agreement that are fundamental to the parties’ understanding regarding allocation of risk. Accordingly, such provisions shall be severable and independent of any other provisions and shall be enforced as such, regardless of any breach or other occurrences hereunder, AND even under circumstances that cause any exclusive remedy under this Agreement to fail of its essential purpose.
As part of that process, no personally identifiable information about you is collected and only select non-personally identifiable information, including Internet Protocol Address, is temporarily logged. No logged information is used to determine any personally identifiable information about you. This technology is integrated into the Software; by using the Software you consent to use of the technology.
6. Term and Termination.
EarnOpen may, at its option, terminate this Agreement immediately upon notice to you, if you fail to comply with any terms and conditions of this Agreement. Promptly upon termination, all license rights granted under this Agreement will terminate and you must destroy all copies of the Software in your possession or control and cease all use of the Software.
Our termination will not limit any of our other rights or remedies under this Agreement or at law or in equity. Notwithstanding anything contained herein to the contrary, Sections 2-6 shall survive termination or expiration of this Agreement for any reason.
(a) Limits on Your Right to Transfer. Neither this Agreement nor any rights, licenses or obligations hereunder, may be assigned by you, either voluntarily or by operation of law, without EarnOpen’s prior written consent. Any attempted assignment in violation of this Agreement shall be void and without effect. Subject to the foregoing, this Agreement will benefit and bind the parties’ successors and assigns.
(b) Severability and Survival. If any provision of this Agreement is illegal or unenforceable under applicable law, the remaining provisions of this Agreement will remain valid and fully enforceable. If any provision is in part enforceable and in part unenforceable, it will be enforced to the extent permitted under applicable law.
(c) Injunctive Relief. You agree that a breach of this Agreement adversely affecting EarnOpen’s proprietary rights in the Software may cause irreparable injury to EarnOpen for which monetary damages would not be an adequate remedy and EarnOpen shall be entitled to equitable relief in addition to any remedies it may have hereunder or at law.
(d) Governing Law. This Agreement shall be governed by and construed under the laws of the State of Washington without regard to conflicts of laws provisions thereof. Unless waived by EarnOpen in writing for the particular instance (which EarnOpen may do at its option), the sole and exclusive jurisdiction and venue for actions related to the subject matter hereof shall be the Washington state and federal courts having within their jurisdiction the location of EarnOpen’s principal place of business. Both parties consent to the jurisdiction of such courts and agree that process may be served in the manner provided herein for giving of notices or otherwise as allowed by Washington, Colorado or federal law. The parties agree that the UN Convention on Contracts for the International Sale of Goods (Vienna, 1980) shall not apply to this Agreement nor to any dispute or transaction arising out of this Agreement.
(e) Export. You agree to abide by U.S. and other applicable export control laws and agree not to transfer the Software to a national destination prohibited by such laws, without first obtaining, and then complying with, any requisite government authorization.
(f) Any person who visits, uses or downloads any product, content or information from this or any other related web site automatically and without reservation agrees that in no event shall EarnOpen Forex, Inc., its parent companies or affiliates, be liable for any damages whatsoever, including but not limited to direct, indirect, special, consequential, incidental, exemplary, punitive or other damages such as lost profits or revenue, business interruption, data loss, costs of replacement of goods or damages to your computer equipment arising out of or in connection with the use of, or inability to use, this site or any other hyper linked web site or the information contained or services offered at any of these sites, even if EarnOpen Forex, Inc. is expressly advised of the possibility of such damages. Use at your own risk.
(g) Entire Agreement. This Agreement constitutes the entire agreement between you and EarnOpen with respect to the Software and supersedes all prior or contemporaneous understandings regarding such subject matter. No amendment to or modification of this Agreement will be binding unless made in writing and signed by EarnOpen. No failure to exercise and no delay in exercising, on the part of either party, any right or any power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or power hereunder preclude further exercise of any other right hereunder. In the event of a conflict between this Agreement and any applicable purchase terms, the terms of this Agreement shall take precedence.