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Risk disclosure

Trading futures involves substantial risk of loss and is not suitable for every investor.

Futures carry substantial risk

Futures are leveraged instruments. A futures position is opened with a margin deposit that is a small fraction of the contract’s value, so a small price move produces a large gain or loss relative to that deposit. You can lose all of the money you deposit, and you can lose more than it. Only money you can afford to lose should ever be used to trade futures.

Markets can gap, move very fast or become thin. Stop orders do not guarantee an exit at the stop price. Platforms, data feeds, internet connections and automated strategies can fail, and orders can be filled, rejected or left working in ways you did not intend.

Education only, not advice

Everything on santanamax.com is general education about how trading tools, platforms and contracts work. It is not investment, trading, financial, legal or tax advice. It does not take into account your objectives, finances or circumstances. Nothing on this site is a recommendation, an offer or a solicitation to buy or sell any futures contract, security or other financial instrument, and nothing here is a trade signal.

Santana Max does not manage accounts, copy trades or act on anyone’s behalf. Santana Max does not claim registration with the Commodity Futures Trading Commission (CFTC) or membership of the National Futures Association (NFA) in any capacity. Before you trade, consider speaking with a qualified, registered professional.

No performance claims

This site shows no trading results, real or hypothetical. Where a guide describes a rule, an indicator or a testing method, it describes mechanics only. Any description of a rule or of a backtest is not a statement about how that rule has performed or will perform.

Past performance, whether actual or hypothetical, is not 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 REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN 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 IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

The rule’s text is published at 17 CFR 4.41 on eCFR ↗.

Trademarks and independence