I get it.

You already know you can find that freedom trading on the Foreign Exchange. After all we're not talking about the topsy-turvy world of stocks or bonds.

We're talking about the most powerful international market anywhere. A market that trades nearly two trillion dollars every single day!

You probably know this already, don't you?

You've been around Forex for at least a short while.  Maybe you've even tried a little trading yourself?

Or...

Did you waste your hard-earned cash on one of those robots that's supposed to do all the trading for you?

Either way... you're a whole different kinda “tired.”

You're tired of trying and failing...

Failing to make the kind of big Forex money you read about on the Internet.

And tired of buying into all the hype surrounding the next big automatic trading robot.
   
Trust me, I know how you feel. People like you write to me every day... and every day the story's the same...

Well... it's time to rewrite the second half of your story...

Because I'm going to show you exactly how to make your first Forex dollar and your second.

Heck... I'm going to show you how to make your first $1,000.00 profit...

That sound good? Because...

Then I'm going to show you...

And it doesn't matter if you've already tried and failed... or if this is the first time you've even heard of Forex!

With LMT you will— once and for all— pocket the kind of money you used to only dream about.

LMT...

It stands for Low - Maintenance - Trading. It's a method I devised after years and years of searching for systems to trade the Forex market.

They say with age comes wisdom. That's totally untrue. Age means nothing. The fact is experience breeds wisdom.

I'm living proof.

I'm just 25, but many online traders consider me to be the “old wise man” of the market. Probably because I've been trading on the Foreign Exchange since I was 16. 

It wasn't even legal for me to be doing it... but I got around that with the help of the Internet and the trust of my family.

I started with only the birthday money from my Grandmother... and a magazine article about Forex.

I knew then there was a big treasure chest buried somewhere in the foreign money exchange. The problem was finding that treasure.

In the beginning I made every mistake in the book... and probably some mistakes that were put into the books after I made them!

I worked a part time job just to keep me afloat. And the rest of my time was spent trading Forex.
 
I thought I had it all figured out. But... with Forex a little knowledge can be dangerous. Because...

I'd be up... then I'd be down.

I blew one account after the other. And like most new traders I was convinced it would change if I just kept making trades...

It didn't. 

In fact... it got worse...

But... The toll it took on my life was what really surprised me.

Endless hours at the computer... crunching numbers... researching currency... trying to follow confusing fundamentals. By the end of my second year I felt like I was 18 going on 60!

I was making no money and my friends who had full time jobs had more free time than I did!

I figured there had to be a better way.

I mean...

Should it?

I wanted to not only have money... but have a life too.

I wanted to never worry about paying bills or taking a dozen friends out to dinner, and picking up the tab...

I wanted to become a citizen of the world... travel... learn to surf... live a life of adventure.

And that's what you want too.

You want freedom... whatever that freedom is to you.

You want to work as little as possible and earn as much as possible.

Not so you can stash it away into a retirement account to buy blood pressure meds when you're 80.

You want money you can enjoy today... tomorrow... AND when you're old and shriveled.

You want real cash-in-pocket like this...

 

Do you want the kind of lifestyle and money only Forex Trading can bring?

Well... then this really is your lucky day. I'm not kidding. Mark today on your calendar...

==>

Because as you read every word on this page, you will realize this is the day everything changes for you.
 

“The Real-Life Story Of How A Lost Teenager Discovered A Forex Formula That Now Allows You To Cash In On Huge Market Swings Even If You Work Full Time...”

So... there I was in my little basement office— the dungeon my friends called it. I was day trading Forex like everyone else.
 
And I was finally making some money (on the good days). But... the hours I put in were not what I signed up for just a few years earlier.
 
I figured Forex would be my ticket to freedom. Instead I was like everyone else... chained to my computer all day long.

The gurus promised me heaven and here I was living in Forex hell.

It wasn't until I started questioning the entire concept the gurus were selling that I began to uncover some interesting things...
 
And began to envision a brand new trading plan in my head. A revolutionary way to pocket huge Forex gains while working less than 15 minutes a day...
 
But I knew from the years I had spent on the Forex roller coaster that even the best plan can fail...
 
So... I did something crazy...
 
I stopped all my trading.
 
I needed to test my strategies before putting real cash into play. I needed to perfect every last detail of my plan before I risked my money.

So... I closed myself off to the world.
 
No phone calls... no email. I spent every waking hour testing, tweaking and perfectly refining my dual-pronged Forex attack plan. For months I locked myself in that basement.

And I'm glad I took the time. Because I learned a lot. It turned out my plan had a fatal flaw...

 

The same flaw every other plan has. The flaw they never fixed...

Sure... my system got me those huge gains I predicted... and an unheard of 82% win ratio...

But I had not eliminated the one true problem. I was still forced to sit at my computer watching the charts for long grueling hours every day.

 

That's not what I wanted. I wanted— no, I needed something truly low maintenance.

A system that's so simple, quick and easy even a ten year old could do it. A system that's so mechanical, you could work it for just minutes in the evening and still keep your day job (if you want to).

I was on the verge of giving up completely and resigning myself to the idea that it was a nut that could never be cracked...

Then it hit me like a sledge hammer...

“The Secret Is Utilizing The Convenience Of
Automation, But With Complete Human Control...”

Let me explain.

As I've said before... Automated Trading Robots can be bad for your bank account. Trading on their own... leaving you with little or no control and no idea how it even works...

That's a recipe for disaster.

But... what if you could get the best of both worlds?

What if you could get software to do all the labor intensive, time-sucking chart analysis for you?

What if you could get the software to...
 

	Check current long term trends to ensure you are trading with the big dogs and the big profits.
	Calculate an 82% accurate point of entry, getting you into the trend with as little drawdown as possible.
	Calculate the exact stop and take profit levels for the trade based on the current complex market conditions.

	Keep you in the trend as long as possible using dynamic trailing stops designed to maximise your gains in each trade.

	Follow the strict LMT code and allow you to trade with less than 15 minutes a day at your charts.

And most importantly... this software would have to leave all the control in your hands. 

After months of hard work I had finally cracked the code... finished the formula and began to reap the rewards.

I tested... then tested some more. And the results surprised even me...

That plan... with automated indicators and full trader control... made me more money than I had ever seen!

It was now finally a bone fide “system” you could work for less than 15 minutes a day and catch unheard of winning trades of up to 2000 pips.

The final piece of the puzzle was in place... That fatal flaw... eliminated!

And it turns Forex trading into an entirely new ballgame. A game where you have an unfair advantage over everyone else.

Introducing the...
 

L.M.T Forex Formula

I'm Ready To Order, Dean...

 

Put simply, my LMT Forex Formula is the only Forex trading package of its kind that's proven to make money for everyone who tries it!
   
That's a bold statement I know... but it's true.

And here's the part that really matters to you...

For years I have received emails... asking for a risk-free trading system you can profit from but not have to baby sit 10 hours a day.

You asked... I answered.

After allot of persuasion I have decided to release to the public my secret weapon, the one system that has been my bread and butter for longer than I can remember.

 

This tried and tested system is simple to follow... quick to implement... and easy to generate profit week after week... month after month... for as long as you decide to use it.

You not only turn profit consistently while minimising your risk, but thanks to the exclusive formula which the entire system is based on you do it while working just a few minutes a day!

As I am sure you know, we are in a very deep recession... The recession caused havoc with the currency markets and the currency traders.

One currency which suffered the most was the British Pound selling off and creating a free fall...

Most traders didn't stand a chance... The sell off destroyed them!

Do you want to know what happened to the few people trading the LMT Forex Formula?

They Made A Killing...

“A 2,048 pip Profit During A Recession While Most Traders Are Losing Their Shirts...”

Every one of these traders made more money with LMT than they ever had... and worked far less than they ever did before.

They were shocked that forex trading could be so easy.

Here's what a few of them had to say...
 

		“I Made Over 800 Pips profit”
	Belinda is a stay at home mum who was struggling to find a forex system that would produce profits. After spending less than 2 weeks following the LMT Forex Formula Belinda's trading changed forever. Belinda now trades forex from the comfort of her home and enjoys spending all day with her children!

		“84.62% Winning Trades!”
	Dean,   Before I got a copy of the LMT Forex Formula back in January I used to spend 8 hours a day in front of my charts and hadn't had a single profitable month ever! The best I managed was break even and that only happened twice.   After swallowing my pride and implementing the LMT Forex Formula in my first month of trading I made $4,128. In my second month I made $5,282.   What's even more astounding is the fact I only need to be at my charts for 10-15 minutes each day, now I have more free time than I know what to do with.   So far I have had a total of 13 trades with 2 losses.   That's 84.62% winning trades!   Anyone who is considering getting a copy of Dean's LMT Forex Formula should Just scroll to the bottom of this page and order a copy now!... you wont regret it.   Gareth London - UK

 

 

		“Taken My Trading To A Whole New Level!”
	Dean's LMT Forex Formula has taken my trading to a whole new level!   As you can see in my video Russia is cold. Now with the extra income I am generating with Dean's forex system I can book a nice vacation to somewhere warmer... maybe Hawaii?   The L.M.T Forex Formula is one of the most powerful forex systems I have ever come across make sure you have it in your trading toolbox!   Thanks Dean   Vlad Russia

 

 

		“915 pips in one month... It's Unbelievable!”
	Hey Dean,   Just wanted to thank you again for allowing me to become one of the beta testers. I have to be honest I wasn't expecting this amount of success with only 15 minutes a day.   The L.M.T Forex Formula has given me a true chance at freedom.   I made 925 pips in one month with maybe 10 minutes at my charts each day... It's unbelievable!   When my friends and colleagues ask how I have been able to have such great success trading forex, I share three words with them...   LMT Forex Formula   If you are ever in Australia Dean look me up, the beers are on me.   Collin Australia

 

 

		“I Made Over $12,000”
	Hi Dean,   I have been desperately trying to find a profitable system to trade forex since the beginning of 2008 with very limited success. When I joined your group of beta testers I was on the verge of giving up the dream completely.   It only took me one week to turn my trading around and produce my first winning trade of 328 pips. To date I have made well over 1200 pips using the LMT Forex formula.   Anyone who is reading this should just go ahead and order a copy... Its worth every penny!   Thank you Dean.   Mike NJ

 

 

		“I Am Up Over 1400 Pips!”
	Dean,   Thanks to the LMT Forex Formula I am up over 1400 pips and no longer struggling to pay my mortgage.   The course is fantastic, I love how you keep things short and to the point, I was up and trading within a hour!   This is the first time in years I actually have some free cash to enjoy the finer things in life.   Keep up the great work Dean.   Chris Wyoming

Take Me To The Order Form Please...

“The Real Reasons
  You Need LMT Right Now...”

       

	Finally join the ranks of the elite 4% of Forex traders who make money while they enjoy life.
	Own the system that obliterates the number one obstacle standing between you and Forex Cash— “trade discipline...”
	Employ the unique and proven “Dynamic Trailing Stop Method” to catch massive moves in the market and profit, bigtime...
	Tame a wild and volatile market with perfectly executed “stops” and “take profit” levels...
	Discover the four simple rules you will follow to know if any trade has an extremely high probability of profit... HOT!
	Possess the key to consistent gains & the tactic to avoid losses by moving 1 thing. And it's not what you think...
	Instantly know the exact stops and “take profit” levels! LMT's brand new algorithms predict based on the market's volatility...

	Discover how and why to only manage positions that are already in profit before you jump in...
	Quadruple your work to 1 hour a day... and Forex will spit out full time cash like a hacked ATM...
	Discover the idiot-proof candle strategy that keeps you from jumping into a trade too early...
	Employ my special formula that computes volume and momentum, then gives you a super accurate entry...

	Possess the secret “Doji counting strategy” that predicts market direction better than Nostradamus... HOT!
	Never have to monitor the market again. LMT does it for you... constantly. You're free to live your life...
	Learn conservative investing for an almost guaranteed profit on every trade...
	Try your hand at aggressive trading if you want to position yourself for massive jackpots...
	The simple (but secret) seven rules you must follow on every trade if you ever want to fill your pockets... HOT!
	How I turned dating advice from my grandfather into a trade managing rule that keeps me profitable all the time...
	I hand you the secret that can get you a $500.00 bonus when you open your trading account...

	With the LMT's Simple Visual Indicators, making your next move as easy as glance and click...
	Profit from an intelligent alert system that separates good trading opportunities from all the rest. No more time wasting...
	Not a trading robot! You only have money at risk when you want it at risk. And only when that risk is low... HOT!
	Harness the power of the prevailing trend to profit from massive market moves as big as 2,000 pips... HOT!
	Discover the 82% laser-accurate entry and exit strategy that is the heart of LMT!
	Run your trading empire 90% on cruise control. The other 10% is all up to you. That's security... with almost no work...
	Stress free Forex trading. No more nail-biting. Now you're perfectly poised for any monster-sized market move...

I Get It, Dean... Sign Me Up!

LMT isn't a bunch of tips, tricks and strategies hodge-podged into a confusing text book.

Far from it...

LMT is lightning-fast, multi-sensorial training and proprietary tools that work together to create the hottest, most proven Forex strategy to come along in the nine years I've been trading.

 

You get everything you need  to ensure you're up and running instantly.

You have questions, I know. LMT sounds so life-changing, I would expect that.   

“The Hot Top Questions
 About My LMT Forex Formula...”

	Dean, why are you making these strategies available to the public if they are so successful?
	First of all I am only making a limited amount of copies available, once they are gone then I'm afraid this site will be closed. Helping these few traders will not affect my trading in the slightest.
	How much money do I need to get started in forex?

	You can open a forex account and get started with as little as $300, however I highly recommend you demo trade with a free account and gain confidence before risking any real money in the market.

	Is the software difficult to install?
	No, its as simple as 1-2-3. Every aspect of the system and software installation is covered step-by-step in video tutorials so you can easily follow along.
	How many trades does the LMT Forex Formula produce?

	Following 8-10 currency pairs taking only the very best setups, you will get around 2-3 trades a week. But remember these trade are worth anything from 100 pips to 2000 pips each!

	Can I use LMT Forex Formula to make money trading forex while I work full time?

	Yes, in fact most of my students do exactly that until they are in a position to say goodbye to their boss and trade full time.

	What charting software does LMT Forex Formula work with?

	The custom indicators used with the LMT Forex Formula plug straight into the widely used Meta Trader 4 charting platform. This professional charting platform is completely free to use on demo or live accounts.
	Do you offer support?

Yes I am always available for support via email, and always aim to respond to questions within 24 hours... Usually allot sooner!

	The LMT Forex Formula sold out before I managed to order a copy, is there anything you can do?

	No, I'm afraid once I decide to close this web site that's it there is nothing I can do, if you see the message "SOLD OUT" instead of the order button then you are too late!

On top of these common questions there is one question I get every single day...

Does L.M.T. really work?

I don't know the words to say this more clearly...

You use the system. Give it less than 15 minutes of your time each day and you will profit.

It's really that simple!

 

“What Do I Say To Those Who Claim You Can't Become A Millionaire Working 15 Minutes A Day?”

 

Understand this...

Great Money + Little Work = Freedom!

So no... LMT will not make you a millionaire...

LMT will make you a freedom-aire.

And in the end isn't that what you really want?
   
Normal people bust their butts doing something they hate just so they can save enough to one day retire and do nothing...

Wouldn't you rather have the money and freedom now?

Before we go any further lets take a closer look at what you get in the LMT Forex Formula package...

 

	The LMT Forex Formula Unlike so many programs out there, you're not going to see two 300 page e-books and 52 videos in this package. I could have done that. But it defeats the entire purpose of LMT. Remember... LMT was designed to be simple, quick and easy. So... LMT has been painstakingly streamlined. You get the custom plug-in indicator package, and every last bit of information you need to transform you into a efficient profitable forex trader. That's it... nothing else. No repetition... no useless tactics... no worthless tools... and definitely useless information! It all starts with the... __________________________________________   The LMT Forex Formula Manual The foundation is laid down with this straight-to-the-point, instantly downloadable PDF manual. Considered the engine of the entire LMT Forex Formula... It's Like Getting Me To  Personally Mentor You...   But without the five figure price tag! Nine years of Forex trading knowledge sliced and diced into 60 rock-solid, step by step pages. Why only 60 pages? Because I want you to make money right now. And nobody ever transformed their trading by reading 300 pages of dribble. Truth is it would have been much easier to make this course 300 pages long. But I couldn't do that to you. So I honed everything down to simple language anyone can understand... and broke it all up into easy steps a seven year old could follow. The manual literally takes you by the hand from setting up the system to your first profitable trade... and beyond. I've already showed you some of what's in here. But here's a little more...   The deep inner core workings of the LMT Forex Formula.... everything is revealed. How to magically manage risk so it's nothing more than the tiny, controllable cost of doing business. The sneaky two step formula you'll use to figure out how big your next trade should be. The secret three “visual checks” you'll employ to change your odds from “maybe some profit” to “certain big profit.” Discover two killer trading methods. One for the cautious part-timer... the other for the more adventurous. The one thing most traders have trouble identifying, that causes them to trade 180 degrees the wrong way! My own secret method of closing a trade that turns ordinary gains into 1,000+ pip gains instantly! The methods contained in this manual need one thing and one thing only to turn you into a Rockstar trader. Luckily that one thing is also included! __________________________________________   The Custom Indicator Package This is the package that contains all the custom indicators you'll quickly load into the free charting software you download. You get a timesaving 90% automation, while you maintain full control. It's...   The Best Of Both Worlds! If the manual is the engine of the system, then these indicators are the transmission.   Follow the LMT playbook but trade when you want, with indicators that are 100% mechanical. Plugs right into a widely used free charting application. That means you have no expensive software to buy... ever! Deadly accurate trend indicator monitors the market so you're always positioned on the right side of a trade. Not a robot trading when it wants to. Just follow the simple rules and trade when you are ready. 82% accurate entries mean you have almost perfect entry and exit points for you to skyrocket your profits. Brand new algorithms deliver you a flexible framework for the highest probability of profit every single time. A formula which allows you to spend less than 15 minutes at your charts each day... Now you're free to have a life while you're breaking the Forex bank! And you'll be up and running right away thanks to... __________________________________________   The LMT Forex Formula Video Tutorials The worst thing you'll encounter with most systems out there is you buy something that's supposed to be easy to understand, but it turns out to be nearly impossible to figure out. These videos allow me to... Hold Your Hand  Every Step Of The Way... Concise and pointed quick-start videos that walk you through everything...   Choosing the right broker so you keep the lion's share of cash in your pocket... always! Opening a forex demo account so you can get comfortable trading before putting your money at risk! Downloading and installing the free charting software you'll use to trade like a pro. Step by step instructions so you can quickly install the custom indicator package. Simple and easy to understand explanations of the indicators. Explanation of stops and profit targets that make shooting your bottom line into the stratosphere, simple and quick. You get step by step trade examples from entry to exit so all your guesswork is gone! The simple secrets to using the dynamic trailing stop procedure. The real deal on how you can easily create and maintain an unheard of win percentage in your trades. I'm Convinced. Now's The Time To Break Free!

“So... How Much Does This Insanely Profitable Proven Forex Formula Cost?”

For a system as powerful as LMT, you'd expect to pay upwards of at least $1,000.00 somewhere else... And it would be worth every penny.

But the truth is... you couldn't even find a system like this anywhere else... at any price.

Look at it this way...

If you could make $10,000.00 a month with less than 15 minutes of work each day... and could do that every month for a year...

That would be $120,000.00 per year.

Not bad, huh? You'd pay a nice chunk of change in order to do that, wouldn't you?

But of course there's no way to guarantee you'll do that well all the time. Let's say you do half as well...

$60,000.00 a year!

Would you pay $1,000 for that?

I know I would.

Heck... if someone handed me $60K I'd give them ten thousand bucks every year if I had to.

Let's really look at a “near worst” case scenario...

Let's say you don't manage to do as well as me or my previous students and your trading puts just $2,500.00 in your pocket each month...

That would still mean $30,000 in your pocket each year...

So... let's say it's just $30K. You'd pay $500 for a method that did that, wouldn't you?

Even at this worst case scenario of just $30K a year spending 15 minutes a day it works out at over $500 per hour.
   
Remember, there are professionals in the world who spend over one hundred thousand bucks on an education, just to earn a decent living!

And they're still tied to their offices forever. So a one time payment of $500 for LMT... that's nothing.

Well you won't have to pay even that little amount. Because...

LMT is priced far better than any other education.

In my nine years trading Forex I bought a ton of products that promised me the world...

And yeah... I was ripped off more times than I care to admit. By the time I was done buying crap, I had spent well over $10,000

And... I'm guessing you've been there too. You too have probably lightened your wallet at least some in the time you've been interested in Forex... right?

I really expected the economy to recover a little, after the huge tumble. But... it hasn't. I see the pain and despair on peoples' faces everyday.

I know times are tough.

That makes owning the LMT Forex Formula that much more important! So... because I want to help those who truly want to change their futures... I'm going to cut the cost of signing up to— hold onto your hat— just $500 $149.

That's more than a fifth of the price I was planning on letting this package go for.

Do me a favor...

Take a moment and just imagine. Open your mind for a minute...

You wake up... six months from today. Crack of noon.

You stumble out of bed to the eye-opening aroma of fresh-brewed coffee. You need that little boost because yesterday was killer...

You spent all day doing whatever you wanted. Surfing the north shore of Hawaii... Or partying all night at Carnivale' in Rio. Anything you've ever dreamed of doing...

All because you finally have that freedom.

The five star view out the window catches your eye. You think to yourself, “great hotel...” then remember it's not a hotel. This is your condo. You are among the less than 1% in the world who actually live their dream life.

That's what trading Forex has done for me... and others...

And it can do that for you too.
 
Oh... I almost forgot one of the best parts...

Your LMT system comes backed by my unbeatable, no risk guarantee!
 

	I'm not fooling around here... I know that the LMT Forex Formula is a powerful and extremely profitable system, it has the potential to trading and your change your life forever! In fact... I am so confident that you will have nothing but success with the LMT Forex Formula that I am offering you 8 weeks to prove me wrong! That's 8 weeks from the day you order to devour the manual... plug in the indicators and take it out for a spin. Follow the system rules exactly as laid out in the manual for at least one month, if you don't see substantial gains in your trading account you'll get a full refund with a virtual handshake and my best wishes for your success. Not entirely sure you want to use actual cash at first? Then don't. Use a demo account, trade for fun... for research... for education purposes. It's all up to you. I'm not doing this because I have to. Many investment systems come with no guarantee at all. I'm doing this because I'm that sure you'll be thrilled.

 

But- there is a catch ...

...I am not sure how many copies of LMT I can let go at this price! As I said earlier I enjoy the freedom I have created for myself using the LMT Forex Formula.

If the workload of helping so many people becomes too much I will be forced to close the doors and you will be faced with a bold large sign in place of the order button like this...

 

I don't know how many copies I can let go before the workload intrudes on my current lifestyle...

It may be 200 - it may be 500... I just don't know yet.

However one thing I do know is that once I close the doors there is nothing I can do.

This isn't some kind of marketing ploy. My previous customers know when I give a limited time opportunity, I mean “limited time.” No ifs ands or buts about it...

If you see the sign 'SOLD OUT' in place of the order button below you are too late... Please don't write asking me to make an exception. That wouldn't be fair to everyone else.

So get in now, while the getting is good!

“You're Staring At A Fork In The Road...”

Take the LMT path and you've got a real shot at financial independence. A real chance to change everything about who you are and where you're going...

Or... Take the other path and it's the same old routine for you. Working that day job earning money for someone else while barely keeping your head above water...

What's it going to be?

Do you want to remain a drone? Or would you like to be a Freedom-aire?

 

SPECIAL INTRODUCTORY PRICE!  Price Due To Increase To $497 Soon! Only $497  $149 YES Dean, I am READY to take action now and learn your proven forex formula. I am acting before the price increases or this site is closed.   I also understand that I will be receiving free premier course upgrades.  Instant Download Please Note: Immediately After Payment You Will Be Directed To The Members Area Where You Can Download The Product. Nothing Will Be Sent In The Post! Order online safely and securely 100% Secure, Full Encryption Is Being Used You'll receive your order instantly even if it's 3 am!

If you have any questions please feel free to contact me. But let me ask you again to honor one request...

If you missed this opportunity and you see a sign which states SOLD OUT! in place of the order button above, please don't use this email address to ask for me to give you a break and let you in. I just won't be able to do it.

Yours in business and success,

U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily 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.