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CFTC RULE 4.forty one - HYPOTHETICAL OR SIMULATED EFFICIENCY RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE DOCUMENT, SIMULATED RESULTS DON'T REPRESENT PRECISE BUYING AND SELLING. ADDITIONALLY, FOR THE REASON THAT TRADES HAVEN'T BEEN EXECUTED, THE RESULTS MIGHT HAVE BENEATH-OR-OVER COMPENSATED FOR THE INFLUENCE, IF ANY, OF SURE MARKET ELEMENTS, SIMILAR TO LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS ON THE WHOLE ARE ADDITIONALLY TOPIC TO THE TRUTH THAT THEY ARE DESIGNED WITH THE ADVANTAGE OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THESE SHOWN.
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