FXIFY New York Safe 09790 Client Deployment Pack

Certified-source-only pack. Every figure and chart is rendered from sealed records; no calculation run, search, publication, or routing action is performed in this chain.

Deposit $25,000 | Currency USD | Account = FXIFY 2-Phase Standard, Trailing, Raw Spreads, 90/10 split add-on | Cushion $2,500 | Leverage = 30:1 FX&Gold / 10:1 indices | Basis = current V4.1

Overview And Headline

Net %/month after FXIFY fee11.70%$2,925.63 per month on $25k; fee reimbursed on first payout
Chance of losing account0.07 out of 100/yrCurrent risk model only
Daily limit use44.98%of that day's 4% allowance on 2025-01-08
Actual funded time63 daysSimulated midpoint: 71 days

Plain safety verdict: Safe low-odds seat.

Run Settings

AccountProfileRungLeverageBasisWindow
FXIFY $25,000 2-Phase Standard, Trailing, Raw Spreads, 90/10New York Safe 097900.530:1 FX&Gold / 10:1 indicescurrent V4.1; cushion $2,500; USD2025-01-02 through 2026-06-30

Equity Curve

New York SAFE equity curve
84719.324480.02025-01-012026-06-30

Drawdown Curve

Drawdown shown here is max drawdown as % of initial balance, peak-to-trough. It is not the FXIFY trailing-floor rule.

New York SAFE drawdown curve
0.0-7.52025-01-012026-06-30

Monthly Returns Heatmap

Year010203040506070809101112
20252.2%7.6%17.3%18.1%21.9%3.7%6.3%4.0%11.7%12.3%10.3%3.8%
20268.7%13.6%8.7%0.9%6.9%-1.9%------

Monthly Return Table

Close balance reflects profits withdrawn once the account exceeds $27,500 (the $25,000 account plus the $2,500 buffer). Return % is measured on the opening balance.

MonthReturn %P&LWithdrawnOpenClose
2025-012.24%$560.73$0.00$24,997.06$25,557.79
2025-027.56%$1,931.21$0.00$25,557.79$27,489.00
2025-0317.26%$4,744.54$0.00$27,489.00$32,233.54
2025-0418.11%$5,835.98$0.00$32,233.54$38,069.52
2025-0521.89%$8,332.30$0.00$38,069.52$46,401.82
2025-063.69%$1,710.22$0.00$46,401.82$48,112.04
2025-076.30%$3,032.23$0.00$48,112.04$51,144.27
2025-084.02%$2,056.37$0.00$51,144.27$53,200.64
2025-0911.75%$6,250.95$0.00$53,200.64$59,451.59
2025-1012.27%$7,294.39$39,378.68$59,451.59$27,367.29
2025-1110.27%$2,810.51$0.00$27,367.29$30,177.81
2025-123.76%$1,135.15$0.00$30,177.81$31,312.96
2026-018.75%$2,738.42$0.00$31,312.96$34,051.38
2026-0213.63%$4,639.78$0.00$34,051.38$38,691.16
2026-038.74%$3,379.94$12,304.70$38,691.16$29,766.40
2026-040.93%$276.07$0.00$29,700.61$29,976.68
2026-056.88%$2,062.80$0.00$29,976.68$32,039.47
2026-06-1.87%$-599.87$0.00$32,039.47$31,439.60

Monthly Bar Chart

Monthly returns
2025-012025-022025-032025-042025-052025-062025-072025-082025-092025-102025-112025-122026-012026-022026-032026-042026-052026-0621.9%-1.9%

Returns And Costs

Closed economic profitTrader 90% receiptsGross withdrawalsFinal balance after withdrawalsDisclosure
$58,122.98$46,515.04$51,683.38$31,439.60Rendered from sealed replay accounting and withdrawal records.

Trade Statistics

TradesTrades/dayTrades/weekWin rateWinsLossesMax loss streak
8431.5410.8137.49%31652714

Trade Quality

Profit factorExpectancy/tradeLargest winLargest lossTop-3 months shareLongest losing month run
1.89$68.96$1,458.79$-375.8936.66%1

Long Vs Short Breakdown

DirectionStatusEvidence
Long/Short splitNot rendered numericallyDirection field is not present in the sealed trade evidence used for this pack.

Position Exposure

Average lotMax lotPeak marginMin free marginOpen positions at peak marginPer-symbol max lot
0.291.50$23,559.94$15,351.018CADJPY:1.50; EURJPY:0.92; GBPAUD:0.40; GBPUSD:0.50; HKG50:0.13; JPN225:0.12; NZDJPY:0.85; UK100:0.51; US500:0.03; USTEC:0.21

Trade Duration

Average holdMedian holdLongest holdOvernight trades
74.6 hours19.7 hours1233.8 hours579 (68.7%)

Phase Timing

BasisPhase 1 datePhase 1 daysPhase 2 datePhase 2 daysActual total daysSimulated midpoint
Actual replay, intraday daily-equity high; phase resets to $25k after Phase 12025-02-19502025-03-04136371

Dual-Basis Monte Carlo

Basis shownChance of losing the account in a yearDaily limit breach chanceTrailing limit breach chance
Current risk model only; legacy basis suppressed0.07 out of 100 per year0.00 out of 100 per year0.07 out of 100 per year

Real-Tick Certification Summary

Proof statusDaily limitTrailing limitSurvivalEvidence basis
PASSPASSPASSPASSApproved real-tick replay
LimitVerdictHeadroom vs floor/allowance $Headroom share of allowanceDateFloor lock date/trigger
DailyPASS$580.0955.02%2025-01-08N/A
Standard trailingPASS$1,290.2851.61%2025-02-102025-02-28T04:00:12+00:00 / CLOSED_BALANCE_REACHED_PLUS_10PCT

Margin And Overnight

Peak marginMin free marginMin balanceOvernight tradesMargin/stop-out flag
$23,559.94$15,351.01$15,280.35579 (68.7%)No margin-call/stop-out flag found in the sealed replay fields used by this renderer.

Holdings And Strategy List

PairTimeframeStrategyTradesWin rateNet contributionShare
CADJPY5minCADJPYr-5m #3299435.1%$7,552.7713.0%
USTEC30minUSTECr-30m #32114257.0%$7,028.1012.1%
EURJPY15minEURJPYr-15m #2529920.2%$6,039.2410.4%
GBPUSD30minGBPUSDr-30m #5408823.9%$5,942.2510.2%
US50015minUS500r-15m #4663756.8%$5,013.078.6%
GBPUSD1hGBPUSDr-1h #5814938.8%$4,785.858.2%
EURJPY15minEURJPYr-15m #4837623.7%$4,778.608.2%
NZDJPY30minNZDJPYr-30m #4944746.8%$4,490.647.7%
JPN2258hJPN225r-8h #4333548.6%$4,027.656.9%
UK10030minUK100r-30m #5626541.5%$3,124.175.4%
GBPAUD1hGBPAUDr-1h #5348927.0%$2,910.285.0%
HKG505minHKG50r-5m #242259.1%$2,437.694.2%

Client Buffer Note

Client buffer is pinned at $2,500, equal to 10.0% of the $25,000 account. The client-facing choice is one Safe and/or one Growth per session.

Window Consistency

WindowTrain splitOOS splitTrain months/winsOOS months/winsLast 3 netLast 6 netNegative months last 6
2025-01-02 through 2026-06-30through 2025-12-31from 2026-01-0112 / 126 / 55.94%37.05%1

Worst Five Days

Each day's loss is measured against the account balance at the start of that day, the same way FXIFY measures it.

DateLoss as % of the account that dayLoss $Share of that day's 4% allowance
8 Jan 20251.8%$474.3045%
3 Feb 20251.8%$477.4445%
9 Jun 20251.7%$805.6942%
18 Mar 20251.7%$531.7742%
24 Feb 20251.7%$463.7742%

Trade & Return Statistics

Risk-adjusted ratios are computed from the 18 monthly returns in the sealed monthly table; trade statistics are computed from the certified member ledgers. Each formula is stated beside the figure it produces.

RatioValueFormula
Sharpe (annualised)4.75mean(monthly) ÷ sample SD(monthly, n−1) × √12, risk-free 0
Sortino (annualised)68.10mean(monthly) ÷ √(mean(min(monthly,0)²)) × √12, over all months
Recovery factor44.55cumulative certified net ÷ maximum closed-equity drawdown, both in USD
Profit factor1.87gross winning P&L ÷ |gross losing P&L|

Ratios computed on 18 monthly observations; with few or no losing months these ratios are inflated and are provided to compare our products with each other, not against external benchmarks.

R is a trade's result in units of the risk taken on it: certified loss per lot at the certified lot (the engine's own stop-loss basis); the FXIFY ledger does not publish the stop price, so the entry-to-stop identity is not independently asserted

MeasureIn USDIn RBasis
Expectancy per trade$98.600.405 Rtotal P&L ÷ closed trades
Median trade$-74.08-0.296 Rmedian across closed trades
Average win$560.142.290 Rwinning trades only
Average loss$-183.21-0.746 Rlosing trades only; stated negative

Trade counts.

CountTrades
Closed trades852
Winning323
Losing529
Breakeven0
Long459
Short393
Long share of directional trades53.87%
Short share of directional trades46.13%

Drawdown. Two different measures, kept apart on purpose.

MeasureUSDPercentBasis
Maximum closed-equity drawdown$1,885.513.93%peak-to-trough on daily closes of the payout-neutral curve; this is the recovery denominator
Deepest drawdown under FXIFY's trailing rule6.10%the venue rule, whose floor locks at the initial balance; a different measure, shown for comparison and not used above

Frequency and holding period. Both denominators are stated because they differ.

MeasureValueBasis
Trades per week10.90closed trades ÷ (547 ÷ 7); denominator 547 days — calendar days from first entry to last exit, inclusive
Trades per day2.88closed trades ÷ active trading days; denominator 296 days — days on which a trade closed in the certified series
Average hold76.5hmean across closed trades
Median hold19.8hmedian across closed trades
StreakLengthBasis
Longest winning streak9 tradesconsecutive closed trades in sealed close ordering; a breakeven trade breaks both streaks
Longest losing streak14 tradesconsecutive closed trades in sealed close ordering; a breakeven trade breaks both streaks
Longest losing run in months1 monthslongest run of consecutive negative months in the sealed monthly table

Robustness — Parameter & Cost Perturbation Tests

Perturbation testing checks whether a strategy remains economically viable when key parameters and trading costs are deliberately moved away from their selected values. Robust performance across nearby settings provides evidence against a result depending on one narrowly optimised parameter combination; it does not prove future profitability. Perturbation tests measure each strategy's profit retention; FXIFY's daily and trailing rules were tested on the certified portfolio as a whole, not on each perturbed variant.

Every field below is reproduced from the sealed grading record for that strategy. No grade is inferred, no threshold is applied here, and no strategy is re-graded.

StrategyInstrument / timeframeGradeBaseline netPerturbation latticeRetentionRetention methodSealed source
FXIFY_R54_0271_NEWYORK_CADJPYr_5min_t329__USD10000CADJPY.r 5minGREEN4814.8sl minus 85.8% of baseline; sl plus 99.2% of baseline; tp minus 117.9% of baseline; tp plus 104.8% of baseline85.8% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_0802_NEWYORK_GBPUSDr_30min_t540__USD10000GBPUSD.r 30minGREEN3072.42sl minus 93.1% of baseline; sl plus 102.0% of baseline; tp minus 94.8% of baseline; tp plus 104.9% of baseline93.1% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_0818_NEWYORK_NZDJPYr_30min_t494__USD10000NZDJPY.r 30minGREEN3448.41sl minus 77.9% of baseline; sl plus 101.7% of baseline; tp minus 96.0% of baseline; tp plus 104.1% of baseline77.9% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_1881_NEWYORK_USTECr_30min_t321__USD100000USTEC.r 30minGREEN53290.82sl minus 82.3% of baseline; sl plus 101.3% of baseline; tp minus 95.5% of baseline; tp plus 91.2% of baseline82.3% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2105_NEWYORK_HKG50r_5min_t24__USD100000HKG50.r 5minGREEN16474.17sl minus 76.5% of baseline; sl plus 66.0% of baseline; tp minus 116.1% of baseline; tp plus 92.3% of baseline66.0% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2197_NEWYORK_JPN225r_8h_t433__USD10000JPN225.r 8hGREEN3164.94sl minus 80.8% of baseline; sl plus 91.0% of baseline; tp minus 97.4% of baseline; tp plus 102.1% of baseline80.8% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2322_NEWYORK_UK100r_30min_t562__USD100000UK100.r 30minGREEN18920.04sl minus 104.5% of baseline; sl plus 118.3% of baseline; tp minus 91.8% of baseline; tp plus 109.7% of baseline91.8% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2378_NEWYORK_US500r_15min_t466__USD100000US500.r 15minGREEN1919.26sl minus 89.8% of baseline; sl plus 95.0% of baseline; tp minus 96.4% of baseline; tp plus 103.2% of baseline89.8% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2985_NEWYORK_EURJPYr_15min_t483__USD10000EURJPY.r 15minGREEN2496.08sl minus 141.7% of baseline; sl plus 87.0% of baseline; tp minus 97.0% of baseline; tp plus 67.6% of baseline67.6% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_2988_NEWYORK_EURJPYr_15min_t252__USD10000EURJPY.r 15minAMBER2857.13sl minus 80.9% of baseline; sl plus 76.7% of baseline; tp minus 69.1% of baseline; tp plus 90.4% of baseline69.1% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_3057_NEWYORK_GBPAUDr_1h_t534__USD10000GBPAUD.r 1hGREEN1680.92sl minus 108.9% of baseline; sl plus 70.7% of baseline; tp minus 84.5% of baseline; tp plus 104.4% of baseline70.7% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…
FXIFY_R54_3170_NEWYORK_GBPUSDr_1h_t581__USD10000GBPUSD.r 1hGREEN2035.88sl minus 75.4% of baseline; sl plus 115.1% of baseline; tp minus 103.1% of baseline; tp plus 85.7% of baseline75.4% (worst_retention_pct)as emitted by the sealed grader (worst_retention_pct)C1E402384E42D285…

Grades were set by the sealed grader on all four perturbations together: green requires every leg profitable, median retention of at least 80% and the worst leg at least 60%; red follows from a losing leg, median retention under 60%, two legs under 50%, or materially worsened drawdown. The worst leg is shown because it is frequently the binding test. Grader of record: grade_fxify_r56_criteria_of_record_20260819.py, SHA 691B4D1870870DBC…, criteria at lines 165-177.

Board summary. worst_retention_pct, the minimum over all 12 strategies on this board, as emitted by the sealed grader

StrategiesGradesLowest retention
12GREEN 11 / AMBER 1 / RED 066.0%

Audits

BOARD_SHA_MATCH=PASS 65AEDF269579B20BBE5240CA123AEDB8BF996E00C5F6EE1BE7AD419D5C25DB60 MC_SHA_MATCH=PASS 661E35826CF8263682F44C3FC0C73F6F336239C335190B1F57BAD33C08556629 DAILY_CURVE_SHA_MATCH=PASS 9C266E34688AB9535B7FBE9978322368CACC46ED8AC724F42D4BA41BC344AD76 MONTHLY_CONTRACT_SHA_MATCH=PASS 2B59175B99D7021507A7D95DD2488800254EC774B5B4C40B260ABC41DB76C39E G7_TRADE_EVIDENCE_BOUND=PASS C2510039CCEFB4C311BBFE9B742A29CC8448D04C2F0CD8DDAEF0F450C8AA67A9 FIRM_DAILY_ADJUDICATION_RENDERED_FROM_BOARD_RESULT=PASS PACK_ACCEPTANCE_VALIDATION_R6=PASS
SourcePathSHA-256
BOARD_RESULTD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\BOARD_RESULT.json65AEDF269579B20BBE5240CA123AEDB8BF996E00C5F6EE1BE7AD419D5C25DB60
firm_definition_adjudication.dailyD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\BOARD_RESULT.json65AEDF269579B20BBE5240CA123AEDB8BF996E00C5F6EE1BE7AD419D5C25DB60
firm_definition_adjudication.standard_trailingD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\BOARD_RESULT.json65AEDF269579B20BBE5240CA123AEDB8BF996E00C5F6EE1BE7AD419D5C25DB60
V4.1 MCD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_CURRENT_BASIS_MC_V4_1_RERUN_20260901_R2_IMMUTABLE_AUTH\runs\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\mc_v4_1_result\LEGAL_BASIS_V4_MC_RESULT.json661E35826CF8263682F44C3FC0C73F6F336239C335190B1F57BAD33C08556629
V4.1 MC kernelD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_CURRENT_BASIS_MC_V4_1_RERUN_20260901_R2_IMMUTABLE_AUTH\runs\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\mc_v4_1_result\LEGAL_BASIS_V4_MC_RESULT.json64708386CBDBB5EE5D50229A5F3E5F94EE9AA60597896DF75C06C9C0DFFA4AC6
Adapter R3D:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_CURRENT_BASIS_MC_V4_1_RERUN_20260901_R2_IMMUTABLE_AUTH\runs\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\mc_v4_1_result\LEGAL_BASIS_V4_MC_RESULT.json6107C1CEEDD902C72063EADC341050E16FBAFACBFD10084CC6D5615E8AFC32B8
MC seedD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_CURRENT_BASIS_MC_V4_1_RERUN_20260901_R2_IMMUTABLE_AUTH\runs\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\mc_v4_1_result\LEGAL_BASIS_V4_MC_RESULT.json20260729
Daily equity curveD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\DAILY_EQUITY_CURVE.csv9C266E34688AB9535B7FBE9978322368CACC46ED8AC724F42D4BA41BC344AD76
Monthly contractD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\CLASSIC_READY_MONTHLY_REPORTING_CONTRACT.json2B59175B99D7021507A7D95DD2488800254EC774B5B4C40B260ABC41DB76C39E
G7 trade evidenceD:\GP_work\Codex\2026-06-25\ple\deliverables\FXIFY_EXACT_ENGINE_PAYOUT_CORRECTION_R1E2_20260831_R1\wave_staging_m1_bound_cushion2500_do_not_launch\run_outputs_after_owner_go\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\NEW_YORK_12_GREEN_PLUS_ELIGIBLE_AMBER_MAX_NET_09790__RESCUE_R050__ORDER007_DV2_C6_R050\CLASSIC_READY_TRADE_EVIDENCE.jsonlC2510039CCEFB4C311BBFE9B742A29CC8448D04C2F0CD8DDAEF0F450C8AA67A9

Legal

This is a published client information pack. It is not a trading instruction, not investment advice and not a solicitation. All figures are rendered from sealed replay, risk simulation, daily curve, monthly and trade evidence files.

Funded pack chain verified by SHA: deployment_pack.py BC10650B, wrapper B98664E3, final extender 93D6620B, delivery extender 3728B7C9, disclaimer DA2BC975.

Important Risk Disclosure & Disclaimer

The information, statistics, charts, analysis, performance figures and trading reports contained within this document are provided solely for informational and educational purposes. They do not constitute financial advice, investment advice, legal advice, tax advice, or a recommendation or solicitation to buy, sell or hold any financial instrument.

Any performance results presented within this report are derived from historical backtesting or simulated trading using historical market data.

Backtesting is a hypothetical exercise designed to estimate how a trading strategy may have performed under past market conditions. Such results are produced with the benefit of hindsight and do not reflect actual trading. They do not account for all market conditions or execution factors that may occur during live trading.

Past performance, whether actual or simulated, is not a reliable indicator of future results and must not be relied upon as a prediction or guarantee of future performance.

No representation or warranty is made that any account will achieve profits or losses similar to those shown in this report.

Trading financial markets involves substantial risk and is not suitable for every investor.

Actual trading results may differ materially from historical backtests due to numerous factors, including but not limited to:

* Changes in market conditions and volatility

* Liquidity constraints

* Slippage and execution delays

* Bid/ask spreads

* Commissions, fees and financing costs

* Partial fills or rejected orders

* Broker-specific execution policies

* Data quality differences

* Technical failures, software errors or connectivity issues

* Regulatory or market structure changes

* Human error or operational risks

Losses can exceed expectations, and it is possible to lose part or all of the capital allocated to trading.

No guarantee, representation or warranty is made regarding the profitability, accuracy, reliability or future performance of any trading system, methodology, algorithm or strategy described within this report.

Historical performance should never be considered a guarantee of future returns.

Any decision to trade, invest or otherwise act upon the information contained within this report is made entirely at the user's own discretion and risk.

Users are solely responsible for conducting their own due diligence and for determining whether any trading strategy or methodology is appropriate for their individual financial circumstances, objectives and risk tolerance.

Independent professional financial advice should be sought where appropriate before making any investment or trading decision.

To the fullest extent permitted by applicable law, the authors, developers, distributors and providers of this report, together with their affiliates, employees, contractors and representatives, shall not be liable for any direct, indirect, incidental, consequential, special or punitive loss or damage arising from the use of, or reliance upon, this report or any information, analysis, software, trading system or performance data contained within it.

This includes, without limitation, any loss of capital, trading losses, loss of profits, loss of opportunity, business interruption, loss of data or any other financial or commercial loss.

By accessing, reading or using this report, you acknowledge and agree that:

* You understand that all trading involves significant financial risk.

* You understand that backtested and simulated performance is hypothetical and has inherent limitations.

* You accept full responsibility for all trading and investment decisions made.

* You assume all risks associated with the use of any information, strategies or systems referenced within this report.

* You understand that no guarantees or assurances of future profitability are provided or implied.

If you do not understand or accept these risks, you should not rely upon or use the information contained within this report.