Risk disclosure

Read this before acting on anything in the Desk.

Trading involves substantial risk of loss

Index futures and options are leveraged derivative products. Leverage magnifies both gains and losses. You can lose your entire deposit, and with some products and venues more than your deposit. These instruments are not suitable for every investor. Do not trade money you cannot afford to lose entirely.

Nothing here is financial advice

All content — outlooks, levels, options maps, recaps, replays, scenarios, lessons, chat and feed posts — is general market commentary and education. It is not investment, financial, legal or tax advice, is not tailored to your circumstances, and is not a recommendation to buy or sell anything. We are not a registered investment adviser, broker-dealer or commodity trading advisor.

No outcome is promised

No guarantee is made regarding profit, income or performance. Examples are illustrative and not typical. Past performance does not indicate future results. Results are shown in R-multiples, never as account balances. Simulation and historical examples don't capture every live-market constraint; fees, spreads, slippage and leverage can materially change outcomes.

You are responsible for your own decisions

• You alone decide what to trade, when, and at what size.
• You are responsible for your own risk management.
• You are responsible for complying with the laws, tax rules and exchange rules where you live.

Limitation of liability

To the maximum extent permitted by law, no liability is accepted for any trading loss, lost profit or consequential damage arising from your use of the Desk or its content.