Performance Record
We show ALL trades-winners AND losers. All trades were either stopped out at the stop loss or the take profit. Results can be improved if you choose to add a trailing stop loss.
2008 BACKTEST - (Charles - Major Market Moves)
Weekly Signals (7/2-12/19)
| Week # | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Year | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 |
| Date | 7/2-7/25 | 7/27-8/1 | 8/3-8/8 | 8/10-8/15 | 8/17-8/22 | 8/24/8/29 | 8/31-9/5 | 9/7-9/12 |
| EUR/USD | 91 | 61 | 61 | 182 | 0 | 91 | 91 | 61 |
| GBP/USD | 0 | 91 | 182 | 182 | -30 | 182 | 182 | 182 |
| USD/JPY | 91 | -70 | 80 | 80 | 80 | 0 | 10 | 80 |
| USD/CAD | 91 | 0 | 182 | -30 | 61 | 0 | 61 | 91 |
| TOTAL | 273 | 82 | 505 | 414 | 111 | 273 | 344 | 414 |
| Week # | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| Year | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 |
| Date | 9/14-9/19 | 9/21-9/26 | 9/28-10/3 | 10/5-10/10 | 10/12-10/17 | 10/19-10/24 | 10/26-10/31 | 11/2-11/7 |
| EUR/USD | 182 | 91 | 182 | 182 | 182 | 182 | 273 | 182 |
| GBP/USD | 273 | 91 | 182 | 182 | 273 | 273 | 273 | 273 |
| USD/JPY | 160 | 80 | 80 | 160 | 160 | 160 | 160 | 160 |
| USD/CAD | 61 | 91 | 182 | 182 | 182 | 182 | 273 | 182 |
| TOTAL | 676 | 353 | 626 | 706 | 797 | 797 | 979 | 797 |
| Week # | 17 | 18 | 19 | 20 | 21 | 22 |
| Year | 2008 | 2008 | 2008 | 2008 | 2008 | 2008 |
| Date | 11/9-11/14 | 11/16-11/21 | 11/23-11/28 | 11/30-12/5 | 12/7-12/12 | 12/14-12/19 |
| EUR/USD | 91 | 91 | 152 | 61 | 182 | 61 |
| GBP/USD | 182 | 182 | 182 | 182 | 273 | 91 |
| USD/JPY | 160 | 160 | 80 | 45 | 10 | 125 |
| USD/CAD | 273 | 182 | 182 | 182 | 273 | 152 |
| TOTAL | 706 | 615 | 596 | 470 | 738 | 429 |
| 2008 | ||
| CURRENCY PAIR | TOTAL PIPS | AVG PIPS PER WEEK |
| EUR/USD | 2 732 | 124.18 |
| GBP/USD | 3 883 | 176.50 |
| USD/JPY | 2 051 | 93.23 |
| USD/CAD | 3 035 | 137.95 |
| TOTAL | 11 701 | 531.86 |
2009 BACKTEST - (Charles - Major Market Moves)
Weekly Signals (1/4-7/3)
| Week # | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 1/4-1/9 | 1/11-1/16 | 1/18-1/23 | 1/25-1/30 | 2/1-2/6 | 2/8-2/13 | 2/15-2/20 | 2/22-2/27 |
| EUR/USD | 230 | 330 | 183 | 330 | 270 | 153 | 122 | 274 |
| GBP/USD | 244 | 270 | 296 | 418 | 270 | 296 | 244 | 240 |
| USD/JPY | 63 | 133 | 45 | 98 | 98 | 153 | 18 | 175 |
| USD/CAD | 153 | 304 | 239 | 183 | 183 | 122 | 122 | 122 |
| TOTAL | 690 | 1037 | 763 | 1029 | 821 | 724 | 506 | 811 |
| Week # | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 3/1-3/6 | 3/8-3/13 | 3/15-3/20 | 3/22-3/27 | 3/29-4/3 | 4/5-4/10 | 4/12-4/17 | 4/19-4/24 |
| EUR/USD | 122 | 153 | 183 | 273 | 330 | 91 | 152 | 244 |
| GBP/USD | 62 | 270 | 240 | 273 | 240 | 192 | 213 | 214 |
| USD/JPY | 50 | 32 | 98 | 80 | 125 | 45 | 153 | 186 |
| USD/CAD | 183 | 122 | 283 | 61 | 153 | 130 | 152 | 244 |
| TOTAL | 417 | 577 | 804 | 687 | 848 | 458 | 670 | 888 |
| Week # | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 4/26-5/1 | 5/3-5/8 | 5/10-5/15 | 5/17-5/22 | 5/24-5/29 | 5/31-6/5 | 6/7-6/12 | 6/14-6/19 |
| EUR/USD | 183 | 274 | 92 | 92 | 92 | 244 | 183 | 183 |
| GBP/USD | 182 | 92 | 183 | 183 | -30 | 244 | 148 | 148 |
| USD/JPY | 160 | 45 | 106 | 98 | 45 | 240 | 80 | 53 |
| USD/CAD | 244 | 92 | 213 | 244 | 148 | 122 | 122 | 213 |
| TOTAL | 769 | 503 | 594 | 617 | 255 | 850 | 533 | 597 |
| Week # | 47 | 48 |
| Year | 2009 | 2009 |
| Date | 6/21-6/26 | 6/28-7/3 |
| EUR/USD | 122 | -40 |
| GBP/USD | 304 | 122 |
| USD/JPY | 80 | 106 |
| USD/CAD | 92 | -60 |
| TOTAL | 598 | 128 |
2009 BACKTEST - (Charles - Major Market Moves)
Weekly Signals (7/5-12/18)
| Week # | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 7/5-7/10 | 7/12-7/17 | 7/19-7/24 | 7/26-7/31 | 8/2-8/7 | 8/9-8/14 | 8/16-8/21 | 8/23-8/28 |
| EUR/USD | 61 | 61 | 91 | 91 | 62 | -10 | 182 | -30 |
| GBP/USD | 213 | 213 | 213 | -20 | 244 | 214 | 244 | 92 |
| USD/JPY | 106 | 45 | 105 | 41 | 53 | 133 | 50 | 53 |
| USD/CAD | -60 | 182 | 148 | 19 | 182 | 91 | 122 | 91 |
| TOTAL | 320 | 501 | 557 | 131 | 541 | 428 | 598 | 206 |
| Week # | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 8/30-9/4 | 9/6-9/11 | 9/13-9/18 | 9/20-9/25 | 9/27-10/2 | 10/4-10/9 | 10/11-10/16 | 10/18-10/23 |
| EUR/USD | 61 | 91 | 92 | 122 | 91 | 91 | 182 | 92 |
| GBP/USD | 122 | 92 | 122 | 122 | 118 | -40 | 91 | 148 |
| USD/JPY | 106 | 53 | 45 | 106 | 45 | 80 | 18 | 71 |
| USD/CAD | 183 | 122 | 152 | 122 | 92 | 213 | 122 | 122 |
| TOTAL | 472 | 358 | 411 | 472 | 346 | 344 | 413 | 433 |
| Week # | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 |
| Year | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 | 2009 |
| Date | 10/25-10/30 | 11/1-11/6 | 11/8-11/13 | 11/15-11/20 | 11/22-11/27 | 11/29-12/4 | 12/6-12/11 | 12/13-12/18 |
| EUR/USD | 152 | 122 | 213 | 91 | 152 | 204 | 122 | 92 |
| GBP/USD | 92 | 92 | 213 | 213 | 122 | 122 | 92 | 122 |
| USD/JPY | 80 | 80 | 45 | 18 | 53 | 80 | 133 | 80 |
| USD/CAD | 183 | 122 | 183 | 122 | 213 | 122 | 0 | 50 |
| TOTAL | 507 | 416 | 654 | 444 | 540 | 528 | 347 | 344 |
| 2009 | ||
| CURRENCY PAIR | TOTAL PIPS | AVG PIPS PER WEEK |
| EUR/USD | 7 343 | 146.86 |
| GBP/USD | 8 814 | 176.28 |
| USD/JPY | 4 244 | 84.88 |
| USD/CAD | 7 084 | 141.68 |
| TOTAL | 27 485 | 549.70 |
2008 - 2009 BACKTEST - (Charles - Major Market Moves)
Weekly Signals (Combined Summary)
BACKTEST SUMMARY
| 2008 | 2009 | COMBINED 2008 - 2009 | ||||
| CURRENCY PAIR | TOTAL PIPS | AVG PIPS PER WEEK | TOTAL PIPS | AVG PIPS PER WEEK | TOTAL PIPS | AVG PIPS PER WEEK |
| EUR/USD | 2 732 | 124.18 | 7 343 | 146.86 | 10 075 | 139.93 |
| GBP/USD | 3 883 | 176.50 | 8 814 | 176.28 | 12 697 | 176.35 |
| USD/JPY | 2 051 | 93.23 | 4 244 | 84.88 | 6 295 | 87.43 |
| USD/CAD | 3 035 | 137.95 | 7 084 | 141.68 | 10 119 | 140.54 |
| TOTAL | 11 701 | 531.86 | 27 485 | 549.70 | 39 186 | 544.25 |
EURUSD 2008 Results
Daily Trade Results
| Date | Pair | Dir | Risk | Entry | EXIT | Pips |
| 1/7/2008 | EURUSD | SHORT | 128 | 146940 | 146812 | 128 |
| 2/10/2008 | EURUSD | LONG | 212 | 146520 | 148640 | 212 |
| 3/19/2008 | EURUSD | SHORT | 221 | 156820 | 154610 | 221 |
| 4/7/2008 | EURUSD | SHORT | 137 | 156360 | 157750 | -137 |
| 4/9/2008 | EURUSD | LONG | 181 | 158650 | 158831 | 181 |
| 4/16/2008 | EURUSD | LONG | 213 | 158850 | 156700 | -213 |
| 4/24/2008 | EURUSD | SHORT | 185 | 158330 | 158145 | 185 |
| 4/30/2008 | EURUSD | SHORT | 127 | 155150 | 155023 | 127 |
| 5/5/2008 | EURUSD | LONG | 138 | 154990 | 153590 | -138 |
| 5/16/2008 | EURUSD | LONG | 90 | 154870 | 154960 | 90 |
| 5/21/2008 | EURUSD | LONG | 147 | 156330 | 156477 | 147 |
| 6/2/2008 | EURUSD | LONG | 106 | 155690 | 154610 | -106 |
| 6/16/2008 | EURUSD | LONG | 181 | 154840 | 155021 | 181 |
| 7/17/2008 | EURUSD | SHORT | 173 | 158640 | 156910 | 173 |
| 8/4/2008 | EURUSD | LONG | 82 | 155990 | 155150 | -82 |
| 8/21/2008 | EURUSD | LONG | 166 | 147960 | 146280 | -166 |
| 8/28/2008 | EURUSD | LONG | 181 | 147530 | 145700 | -181 |
| 9/18/2008 | EURUSD | LONG | 206 | 142820 | 144880 | 206 |
| 10/8/2008 | EURUSD | LONG | 235 | 136780 | 137015 | -235 |
| 11/7/2008 | EURUSD | SHORT | 322 | 127920 | 127598 | 322 |
| 11/19/2008 | EURUSD | LONG | 340 | 128140 | 128480 | -340 |
| 11/24/2008 | EURUSD | LONG | 214 | 126390 | 128530 | 214 |
| 12/4/2008 | EURUSD | LONG | 205 | 127670 | 125600 | -205 |
23 Trades 14 Wins +584 pips 60% Wins | ||||||
GBPUSD 2008 Results
Daily Trade Results
| Date | Pair | Dir | Entry | EXIT | Pips | Trade Exit |
| 1/3/2008 | GPBUSD | SHORT | 198180 | 197900 | 280 | 1/14/2008 |
| 1/24/2008 | GPBUSD | LONG | 196460 | 199540 | 308 | 1/30/2008 |
| 2/1/2008 | GPBUSD | SHORT | 198370 | 197180 | 119 | 2/1/2008 |
| 2/14/2008 | GPBUSD | SHORT | 196130 | 194990 | 114 | 2/18/2008 |
| 2/27/2008 | GPBUSD | SHORT | 197890 | 199720 | -183 | 3/6/2008 |
| 3/18/2008 | GPBUSD | SHORT | 201740 | 199580 | 216 | 3/19/2008 |
| 3/24/2008 | GPBUSD | LONG | 198820 | 200270 | 145 | 3/25/2008 |
| 4/3/2008 | GPBUSD | LONG | 198760 | 200200 | 144 | 4/4/2008 |
| 4/8/2008 | GPBUSD | SHORT | 199070 | 197670 | 140 | 4/8/2008 |
| 4/16/2008 | GPBUSD | LONG | 197660 | 199320 | 166 | 4/18/2008 |
| 4/23/2008 | GPBUSD | SHORT | 197710 | 196850 | 202 | 5/7/2008 |
| 5/14/2008 | GPBUSD | SHORT | 194410 | 196330 | -190 | 5/20/2008 |
| 5/16/2008 | GPBUSD | LONG | 194740 | 195840 | 110 | 5/20/2008 |
| 5/27/2008 | GPBUSD | SHORT | 197540 | 196570 | 97 | 6/2/2008 |
| 6/17/2008 | GPBUSD | LONG | 195130 | 196170 | 104 | 6/19/2008 |
| 6/24/2008 | GPBUSD | SHORT | 196990 | 197920 | -91 | 6/26/2008 |
| 7/3/2008 | GPBUSD | LONG | 200070 | 201250 | 118 | 11/29/2008 |
| 7/22/2008 | GPBUSD | LONG | 200070 | 199050 | -90 | 7/22/2008 |
| 7/24/2008 | GPBUSD | SHORT | 198960 | 197170 | 179 | 8/4/2008 |
| 9/29/2008 | GPBUSD | SHORT | 183050 | 179430 | 362 | 9/30/2008 |
| 11/7/2008 | GPBUSD | SHORT | 157490 | 153030 | 446 | 11/12/2008 |
| 11/21/2008 | GPBUSD | SHORT | 148990 | 152500 | -349 | 11/25/2008 |
| 12/11/2008 | GPBUSD | LONG | 146750 | 148980 | 221 | 12/12/2008 |
| 12/24/2008 | GPBUSD | SHORT | 146840 | 143780 | 306 | 12/29/2008 |
24 Trades 19 Wins 5 Losses 79% Winners +2,874 pips | ||||||
EURUSD 2009 Results
Daily Trade Results
| Date | Pair | Dir | Entry | EXIT | Pips | Trade Exit |
| 12/31/2008 | EURUSD | SHORT | 139140 | 134670 | 447 | 1/6/2009 |
| 1/21/2009 | EURUSD | SHORT | 130560 | 127280 | 328 | 2/2/2009 |
| 2/4/2009 | EURUSD | LONG | 128990 | 130910 | 192 | 2/9/2009 |
| 2/20/2009 | EURUSD | LONG | 128830 | 132089 | 326 | 2/20/2009 |
| 2/27/2009 | EURUSD | SHORT | 126000 | 124535 | 147 | 3/4/2009 |
| 3/6/2009 | EURUSD | LONG | 126617 | 128689 | 207 | 3/11/2009 |
| 3/25/2009 | EURUSD | SHORT | 134822 | 132319 | 250 | 3/29/2009 |
| 4/1/2009 | EURUSD | LONG | 132860 | 134577 | 172 | 4/2/2009 |
| 4/13/2009 | EURUSD | LONG | 131743 | 132592 | 85 | 4/13/2009 |
| 4/15/2009 | EURUSD | SHORT | 131244 | 133922 | -266 | 5/4/2009 |
| 4/27/2009 | EURUSD | SHORT | 131108 | 133105 | -189 | 4/29/2009 |
| 5/8/2009 | EURUSD | LONG | 133754 | 135048 | 129 | 5/8/2009 |
| 5/13/2009 | EURUSD | SHORT | 135615 | 135615 | -144 | 5/14/2009 |
| 6/5/2010 | EURUSD | SHORT | 141069 | 138773 | 230 | 6/8/2009 |
| 6/10/2010 | EURUSD | LONG | 140029 | 138041 | -197 | 6/15/2009 |
| 6/18/2009 | EURUSD | LONG | 139341 | 141997 | 186 | 6/24/2009 |
| 7/1/2009 | EURUSD | LONG | 141037 | 139814 | -120 | 7/2/2009 |
| 7/15/2010 | EURUSD | LONG | 140019 | 141063 | 104 | 7/15/2009 |
| 7/23/2009 | EURUSD | SHORT | 141617 | 142776 | -114 | 7/23/2009 |
| 7/31/2009 | EURUSD | LONG | 141959 | 143842 | 188 | 8/3/2009 |
| 8/7/2009 | EURUSD | SHORT | 143541 | 142267 | 91 | 8/7/2009 |
| 8/12/2009 | EURUSD | LONG | 142191 | 141025 | -115 | 8/12/2009 |
| 8/19/2009 | EURUSD | LONG | 141898 | 143341 | 144 | 8/21/2009 |
| 9/7/2009 | EURUSD | LONG | 143275 | 144635 | 136 | 9/8/2009 |
| 9/14/2009 | EURUSD | SHORT | 145525 | 146358 | -81 | 9/14/2009 |
| 9/16/2009 | EURUSD | LONG | 146535 | 147913 | 138 | 9/22/2009 |
| 9/25/2009 | EURUSD | SHORT | 146874 | 145323 | 155 | 10/1/2009 |
| 10/5/2009 | EURUSD | LONG | 146489 | 147952 | 146 | 10/8/2009 |
| 10/13/2009 | EURUSD | LONG | 147837 | 146711 | 111 | 10/14/2009 |
| 12/21/2009 | EURUSD | LONG | 149094 | 148247 | -83 | 10/27/2009 |
| 10/26/2009 | EURUSD | SHORT | 149837 | 150598 | -74 | 10/26/2009 |
| 11/16/2009 | EURUSD | LONG | 150163 | 148193 | -195 | 11/17/2009 |
| 11/24/2009 | EURUSD | LONG | 149352 | 150683 | 133 | 11/25/2009 |
| 11/27/2009 | EURUSD | SHORT | 149543 | 147651 | 189 | 12/8/2009 |
| 12/24/2009 | EURUSD | LONG | 143323 | 144456 | 113 | 12/29/2009 |
36 Trades 25 Wins 11 Losses 69% Wins +2,769 pips | ||||||
GBPUSD 2009 Results
Daily Trade Results
| Date | Pair | Dir | Entry | EXIT | Pips | Trade Exit |
| 1/26/2009 | GPBUSD | LONG | 138930 | 142840 | 391 | 1/28/2009 |
| 2/2/2009 | GPBUSD | LONG | 145420 | 141860 | -354 | 2/4/2009 |
| 2/4/2009 | GPBUSD | LONG | 144700 | 148870 | 417 | 2/7/2009 |
| 2/11/2009 | GPBUSD | SHORT | 146998 | 144160 | 284 | 2/11/2009 |
| 2/19/2009 | GPBUSD | SHORT | 141489 | 143202 | -169 | 2/19/2009 |
| 2/20/2009 | GPBUSD | LONG | 142987 | 145039 | 205 | 2/23/2009 |
| 2/25/2009 | GPBUSD | SHORT | 143631 | 140664 | 297 | 2/9/2282 |
| 3/9/2009 | GPBUSD | SHORT | 140390 | 137743 | 265 | 3/9/2009 |
| 3/13/2009 | GPBUSD | LONG | 138888 | 141233 | 235 | 3/16/2009 |
| 3/26/2009 | GPBUSD | SHORT | 145515 | 150013 | 224 | 3/27/2009 |
| 4/1/2009 | GPBUSD | LONG | 142965 | 144798 | 183 | 4/2/2009 |
| 4/9/2009 | GPBUSD | LONG | 147788 | 145825 | -194 | 4/9/2009 |
| 4/15/2009 | GPBUSD | LONG | 148704 | 151388 | 268 | 4/15/2009 |
| 4/24/2009 | GPBUSD | LONG | 146863 | 149751 | 289 | 5/4/2009 |
| 5/7/2009 | GPBUSD | LONG | 151634 | 149793 | -182 | 5/7/2009 |
| 5/10/2009 | GPBUSD | LONG | 151975 | 154511 | 254 | 5/19/2009 |
| 5/28/2009 | GPBUSD | LONG | 159697 | 161614 | 192 | 5/29/2009 |
| 6/5/2009 | GPBUSD | SHORT | 162403 | 170865 | 422 | 6/8/2009 |
| 6/18/2009 | GPBUSD | SHORT | 162070 | 165083 | -299 | 6/19/2009 |
| 7/2/2009 | GPBUSD | SHORT | 164207 | 160981 | 323 | 7/8/2009 |
| 7/19/2009 | GPBUSD | SHORT | 163539 | 164764 | -121 | 7/20/2009 |
| 7/24/2009 | GPBUSD | LONG | 165055 | 167000 | 195 | 7/31/2009 |
| 8/24/2009 | GPBUSD | SHORT | 164170 | 162115 | 206 | 8/26/2009 |
| 8/31/2009 | GPBUSD | SHORT | 162547 | 161294 | 125 | 9/1/2009 |
| 9/3/2009 | GPBUSD | LONG | 163766 | 166397 | 263 | 9/10/2009 |
| 9/14/2009 | GPBUSD | SHORT | 166421 | 165437 | 98 | 9/15/2009 |
| 10/2/2009 | GPBUSD | SHORT | 159453 | 157659 | 179 | 10/13/2009 |
| 10/19/2009 | GPBUSD | SHORT | 162499 | 163987 | -147 | 10/19/2009 |
| 10/21/2009 | GPBUSD | LONG | 164343 | 166284 | 194 | 10/21/2009 |
| 10/26/2009 | GPBUSD | SHORT | 162974 | 166935 | -394 | 11/9/2009 |
| 10/28/2009 | GPBUSD | LONG | 163950 | 165387 | 144 | 10/29/2009 |
| 11/2/2009 | GPBUSD | SHORT | 163876 | 166040 | -214 | 11/5/2009 |
| 11/11/2009 | GPBUSD | SHORT | 166144 | 168440 | -228 | 11/16/2009 |
| 11/30/2009 | GPBUSD | LONG | 165115 | 162688 | -241 | 12/8/2009 |
| 12/9/2009 | GPBUSD | SHORT | 163107 | 161075 | 203 | 12/17/2009 |
| 12/18/2009 | GPBUSD | SHORT | 162293 | 164114 | 180 | 12/22/2009 |
36 Trades 26 Wins 10 Losses 72% Wins +3,492 pips | ||||||
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, FOREX, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 -HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS.UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENTACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTSMAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKETFACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERALARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OFHINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR ISLIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.