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DISCLAIMER

Past trading results are not indicative of future results. Past price patterns may not repeat in precisely the same way and subsequently trading systems may not achieve profits/losses similar to past actual or hypothetical results. There are just too many variables in the markets to accurately forecast future results for any system or trader.

CTF DISCLAIMER

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 PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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 CONDITIONS. IN ADDITION THE ABILITY TO WITH STAND LOSSES OR TO ADHERE TOA PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE MANY OTHER FACTORS RELATED TO THE FINANCIAL 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, ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THE RISK OF LOSS IN TRADING FUTURES, OPTIONS, COMMODITIES, AND STOCKS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IN CONSIDERING WHETHER TO TRADE OR TO AUTHORIZE SOMEONE ELSE TO TRADE FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING: IF YOU PURCHASE OR SELL A FUTURE, OPTION, YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS AND ANY ADDITIONAL FUNDS THAT YOU DEPOSIT WITH YOUR BROKER TO ESTABLISH OR MAINTAIN YOUR POSITION. IF THE MARKET MOVES AGAINST YOUR POSITION, YOU MAYBE CALLED UPON YOUR BROKER TO DEPOSIT A SUBSTANTIAL AMOUNT OF ADDITIONAL MARGIN FUNDS, ON SHORT NOTICE. IF YOU DO NOT PROVIDE THE REQUIRED FUNDS WITHIN THE PRESCRIBED TIME, YOUR POSITION MAY BE LIQUIDATED AT A LOSS, AND YOU WILL BE LIABLE FOR ANY RESULTING DEFICIT IN YOU ACCOUNT. THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, SUCH AS A “STOP LOSS” OR “STOP LIMIT” ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.

THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FUTURES AND OPTIONS MARKETS CAN WORK AGAINST YOU, AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISK AND OTHER SIGNIFICANT ASPECTS OF THE FINANCIAL MARKETS.

COPYRIGHT & TRADEMARKS

Copyright Next Generation Trading LLC | The Ant Strategy Explorer trading software and documentation are the property of Next Generation Trading LLC and are protected by copyright with all rights reserved.

LEGAL DISCLAIMER

The Ant Strategy Explorer trading software/documentation is provided without warranty of any kind. Next Generation Trading LLC does not warranty, guarantee or make any representations regarding the use, or the results of the use of the software or written documentation in terms of correctness, accuracy, reliability, currentness or otherwise. The entire risk as to the results and performance of the software is assumed by the Licensee/user.

In no event shall Next Generation Trading LLC be liable in any respect for any claims, loss, indirect, special or consequential damages or lost profits, resulting from use of or reliance on the software or documentation.

Next Generation Trading LLC shall not be liable for any damages arising out of any breach of the subscription terms. In no event shall Next Generation Trading LLC’s liability exceed the total subscription fee. Next Generation Trading LLC shall not be liable for any damages caused by delay of any services under the Subscription Agreement. The subscriber assumes all the risks associated with using the Ant Strategy Explorer software and trading financial instruments.

The Licensee accepts the software “as is, with all faults”, and in lieu of all other warranties and conditions, expressed or implied, including, but not limited to those for merchantability and fitness for a particular purpose.

The Ant Strategy Explorer software is presented solely for training or informational purposes. No offer or solicitation to buy or sell securities or securities derivative products of any kind, or any type of investment or trading advice or strategy, is made, given or in any manner endorsed by Next Generation Trading LLC or its affiliates.

The Ant Strategy Explorer software has not been developed based on knowledge of or with reference to your particular circumstances such as financial position, goals, risk-reward preferences, tax situation, brokerage arrangement, investment or trading experience, and so forth. Hence no content or model published by Next Generation Trading LLC constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person.

You are fully responsible for any investment or trading decisions you make, and such decisions should be based solely on your evaluation of your financial circumstances, investment or trading objectives, risk tolerance and liquidity needs. Trade executions and system response and performance may be adversely affected, including delays and failures, as a result of: market volatility; high share volume; other market fluctuations; illiquidity; other market conditions and risks; quote delays; system and software errors; Internet system problems relating to Internet traffic volume and capacity or other causes; and other factors. One or more of these factors may occur before or after you place a trade, resulting in delayed or failed order placement, order cancellation, trade execution and/or acknowledgement of any of those actions. Solely you assume those risks.

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