Legal · updated June 26, 2026

Risk Disclosure

Substantial risk of loss

Trading futures, forex, options, equities and digital assets involves substantial risk of loss and is not suitable for every investor. You may lose some or all of your invested capital; therefore you should not invest money that you cannot afford to lose. The high degree of leverage available in some markets can work against you as well as for you. You should be aware of all the risks associated with trading and seek advice from an independent, licensed financial advisor if you have any doubts.

Hypothetical performance — CFTC Rule 4.41

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 PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Every performance figure on this site — profit factor, Sharpe ratio, drawdown, equity curves, win rates and gate outcomes — is derived from backtests and simulations, not live trading. Backtests are prepared with the benefit of hindsight, do not involve real financial risk, and cannot fully account for execution slippage, liquidity, fees, financing, latency or behavioral factors present in live trading. Live results will differ, often materially and adversely.

Not investment advice

Validated Strategies publishes general research and reference implementations. We are not a Commodity Trading Advisor (CTA), not a Registered Investment Adviser (RIA), and not a broker-dealer. Nothing on this site is individualized investment advice, a recommendation, or an offer or solicitation to buy or sell any security, futures contract, currency or digital asset. We do not provide personalized portfolio reviews, managed accounts, or real-time trading signals to identified subscribers. Content is general in nature and the same for all readers.

Your responsibility

Any decision to deploy a strategy, in paper or with real capital, is solely yours and taken at your own risk. The burden of proof for any claimed edge rests with the person making the claim, and you should independently verify any result before risking capital. Past and hypothetical performance do not indicate future results.

This disclosure is provided for information only and is not legal or tax advice. See also our Disclaimer, Terms of Service and Privacy Policy.