Statement on Risks of Trading the Futures Markets

The risk of loss in trading commodity futures contracts can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. 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 a position in the commodity futures market. Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since trades may or may not have been actually 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 can, will or is being made that any account will, or is likely to, achieve profits or losses similar to those shown in this hypothetical performance record.

We recommend that before you start trading to "Get the Facts" from the CFTC or visit the National Futures Association web site for additional information.