Disclaimer: Site visitors are advised that all trading is a highly speculative activity and that average customer/trader results are that all traders will incur some trading losses, regardless of the training they may receive. No profitability nor performance claims of any kind are being made. None of the information presented constitutes a recommendation of Trading the Open to buy, sell or hold any security, financial product or instrument discussed or to engage in any specific investment strategy. Active trading is not suitable for most people and entails significant risk of loss of capital. All information provided herein is for informational purposes only. We are not an investment advisor, financial planner or registered broker. We provide educational services for active traders. You accept all liability resulting from your trading decisions. Active trading is a speculative, high risk activity. No offers to buy nor sell any security are being made on this site. 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 and no overall nor specific performance nor profitability claims of any kind are being made, nor should be inferred. Trading involves high risks and you can lose a lot of money. All information is for educational use only, no actual trades are being taken by presenter(s) nor should be taken by participants. Commission Rule 4.41(b)(1)(I) 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. 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 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. THERE IS RISK OF LOSS IN ALL TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALL RESULTS ARE HYPOTHETICAL. NO IMPLICATION IF BEING MADE THAT ANYONE UTILIZING ANY OF THE SERVICES OF THIS SITE HAS OR CAN OBTAIN SUCH PROFITS AND RESULTS. THIS INFORMATION IS NOT A RECOMMENDATION TO BUY OR SELL AT THIS TIME, BUT MERELY A PRESENTATION OF TRADES STRATEGIES. THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES BELIEVED RELIABLE, BUT IS NOT GUARANTEED AS TO ACCURACY, COMPLETENESS OR SUITABILITY FOR ANY INDIVIDUAL. This information is not a recommendation or solicitation to buy or sell any securities. All sales are final for all products and services sold and no refunds are offered. Subscribers to our services, and customers of our products, do not receive investment reporting, investment supervisory or investment management services, nor the ongoing review or monitoring of the subscriber's individual investment portfolio. By posting your comment here you hereby agree to give me permission to reprint it here on the site. By posting your comment you give us permission to reprint it on the site here as shown above. Traders agree to not make actual trades based on the information contained herein, since all content is published for educational use only, and is not to be construed as trading recommendations nor advice. No individual advice nor trading management services of any kind are provided, therefore no member nor subscriber should assume that their participation in the services provided herein serves, nor is suitable as, a substitute for ongoing individual personalized investment advice from an investment professional chosen by the member/subscriber. Trading the Open and Ken Calhoun do not accept any reponsibility or liability for individual participants' actions, uses or applications of information provided, and participants indemnify us from any such liability. You agree to keep all information provided completely confidential, for your own private use only and to not ever redistribute nor otherwise make this content available to any other person via any means. Personal noncommercial use only.