This disclaimer is part of our Terms and Conditions. Please read it before using anything in the members area to inform a trading or investment decision.
1. Education and tools, not advice
ATJ Research provides educational material, market-data visualisations, calculators, simulators and software. We do not provide investment advice, investment recommendations, portfolio management or brokerage services, and we are not authorised or supervised as an investment firm by the Czech National Bank or any other regulator. Nothing in the courses, web applications, downloads, source code, desktop applications, Discord channels or emails is a personal recommendation, an offer, or a solicitation to buy or sell any financial instrument, or to open an account with any broker, exchange or proprietary trading firm.
We do not know your financial situation, knowledge, experience or objectives, and nothing we publish takes them into account. If you need advice, consult a licensed financial adviser.
2. Trading is risky and you can lose money
- Trading financial instruments carries a high level of risk and is not suitable for everyone. You can lose some or all of the money you commit, and with leveraged products you can lose it very quickly.
- Leveraged products, including contracts for difference (CFDs), perpetual futures and margin trading, magnify losses as well as gains. Most retail accounts lose money trading CFDs.
- Crypto-assets are highly volatile, may be unregulated or lightly regulated where you live, and may become illiquid or worthless. Exchanges and protocols can fail, be hacked, halt withdrawals or delist instruments without notice.
- Arbitrage, spread, basis and funding-rate strategies are not risk-free. Prices shown for two venues are not simultaneously executable. Real results depend on execution speed, slippage, fees, funding and swap charges that change, margin requirements on each leg, transfer delays, and the risk that one leg is filled or liquidated and the other is not.
- Proprietary-firm evaluations and hedging schemes discussed or simulated in the Service may breach the rules of the firm concerned, and firms may change their rules, refuse payouts or close accounts. Evaluation fees are usually non-refundable. Check the firm's terms yourself.
- Only trade with money you can afford to lose.
3. Data, calculations and simulations
- Market data comes from third-party exchanges, brokers and data vendors. It may be delayed, incomplete, interrupted or wrong, and symbols on different venues may not refer to identical instruments. Do not rely on it for execution.
- Figures such as spreads, funding rates, swap carry, annualised returns and "best leg" indications are calculations based on assumptions that may not hold for your account, broker or jurisdiction. Annualised figures extrapolate short-term conditions that rarely persist.
- Backtests, Monte Carlo simulations and hypothetical results have inherent limitations. They are produced with hindsight or from assumed probabilities, do not involve real money, ignore or simplify costs, liquidity and psychology, and are not a reliable indicator of future performance. No representation is made that any account will achieve results similar to those shown.
- Past performance, whether real or simulated, is not a reliable indicator of future results.
4. Software and automation
Desktop applications, scripts and source code are provided as tools, without any guarantee that they are free of errors or suitable for a particular purpose. Software that places, manages or monitors orders can malfunction, lose its connection, receive bad data, or behave differently from what you expect, and this can cause losses. Test any software without real money first, understand what it does, supervise it, and use the risk limits your broker or exchange offers. You are responsible for every order placed from your accounts.
5. Opinions and community content
Views expressed in courses, videos, articles and on our Discord server, by us or by other members, are general opinions for educational discussion. Other members are not vetted, may hold positions in what they discuss, and are not speaking for us. Do not treat anything said there as advice.
6. Your responsibility
- You alone decide whether, what and how to trade, and you alone bear the results.
- It is your responsibility to make sure that trading a given instrument, or using a given broker, exchange or proprietary firm, is lawful where you live, and to meet your own tax obligations.
- We may hold positions in instruments mentioned in the Service and may trade them at any time.
- To the fullest extent the law allows, we accept no liability for any loss arising from the use of the Service or from reliance on anything in it. Section 11 of the Terms applies.
Questions about this disclaimer: [email protected].