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 results similar to those shown; in fact, there are frequent differences between
hypothetical results and the actual results obtained by any trading program. One of
the limitations of hypothetical performance results is that they are prepared with the
benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical
trading record can account for the financial risk of actual trading. For example, the ability
to withstand losses or to adhere to a particular trading program regardless of losses are points