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Further, performance in the past is no guarantee of that in the future, and subscriber understands that some results on Teabull website and in e-mail communications are the results of simulated trading, and as such are merely hypothetical. 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.
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