Risk Disclaimer

1. General Risk Disclosure

This Risk Disclaimer is provided in accordance with:

• European Securities and Markets Authority (ESMA) regulations
• Markets in Financial Instruments Directive II (MiFID II)
• CONSOB (Commissione Nazionale per le Società e la Borsa) requirements for Italy
• Commodity Futures Trading Commission (CFTC) Rule 4.41 (USA)

Before using any Merkava Labs products or engaging in trading activities, you should carefully consider your investment objectives, level of experience, and risk appetite.

2. No Guarantee of Profit

3. Specific Trading Risks

4. Past Performance Disclaimer

Additional considerations regarding historical performance:

• Past performance is not indicative of future results
• Backtesting uses historical data which may not reflect future market conditions
• Live trading involves factors not present in backtesting (slippage, emotions, execution delays)
• Market conditions change and strategies may become less effective over time
• Results may vary significantly between different brokers and account types

5. Product-Specific Disclaimers

5.1 Trading Indicators

Our indicators (Azimuth, Oracle, ATIS) are analytical tools that:

• Process historical price data using mathematical formulas
• May produce different results in different market conditions
• Can generate false signals, especially in ranging or choppy markets
• Should not be used as the sole basis for trading decisions
• Require proper risk management regardless of signal strength

5.2 No Repainting Claim

While our indicators are designed to not repaint historical signals, this does not mean:

• Future signals will be profitable
• The indicator cannot produce losing trades
• You should trade every signal without discretion
• Risk management is unnecessary

5.3 Multi-Timeframe Analysis

Products using multiple timeframes may experience:

• Conflicting signals between timeframes
• Delays in signal generation on higher timeframes
• Increased complexity in interpretation
• Higher computational requirements

6. Educational Purpose

Users should:

• Educate themselves about financial markets before trading
• Practice with demo accounts before risking real capital
• Understand the specific instruments they intend to trade
• Learn proper risk management techniques
• Keep detailed records for tax and analysis purposes

7. Risk Management Recommendations

While we cannot provide personalized advice, general risk management principles include:

• Never risk more than you can afford to lose
• Use stop-loss orders to limit potential losses
• Avoid over-leveraging your account
• Diversify your trading strategies and instruments
• Keep emotions in check and stick to your trading plan
• Never trade with borrowed money or funds needed for essential expenses
• Consider the impact of spreads, commissions, and overnight financing costs

8. Regulatory Warnings by Jurisdiction

8.1 European Union (ESMA)

• Retail clients: Maximum leverage restrictions apply (30:1 for major FX pairs)
• Negative balance protection is mandatory
• Marketing restrictions apply to CFD products
• Risk warnings must be prominently displayed

8.2 Italy (CONSOB)

• Binary options and CFDs marketing to retail investors is restricted
• Specific risk disclosure requirements for complex products
• Cooling-off period may apply for retail investors

8.3 United States (CFTC/NFA)

• Forex trading for retail clients restricted to registered FCMs
• Maximum leverage of 50:1 for major pairs, 20:1 for minors
• FIFO (First In, First Out) rule applies
• No hedging allowed on same currency pair

9. Professional Advice Recommendation

10. Mental Health and Addiction Warnings

Trading can be psychologically challenging and potentially addictive. Warning signs include:

• Trading with money you cannot afford to lose
• Feeling anxious or depressed about trading losses
• Neglecting personal relationships or responsibilities due to trading
• Attempting to recover losses through increased risk-taking
• Inability to stop trading despite negative consequences

If you experience any of these symptoms, stop trading immediately and seek professional help.

11. Technical Limitations

Be aware of the following technical limitations:

• Indicators may lag during high volatility periods
• Calculation errors may occur with corrupted data feeds
• Performance may degrade with multiple indicators running simultaneously
• Historical data limitations may affect indicator accuracy
• Platform updates may affect indicator functionality

12. No Warranty

Merkava Labs products are provided "AS IS" without warranty of any kind. We do not warrant that:

• Products will meet your specific requirements
• Products will be uninterrupted, timely, secure, or error-free
• Results obtained will be accurate or reliable
• Any errors in the software will be corrected

13. Limitation of Liability

IN NO EVENT SHALL MERKAVA LABS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO:

• Trading losses
• Loss of profits or revenue
• Loss of data
• Loss of opportunity
• Emotional distress

14. Acknowledgment and Acceptance

15. Emergency Contacts

If you experience financial distress or gambling addiction related to trading:

International

• Gamblers Anonymous: www.gamblersanonymous.org
• National Suicide Prevention: Contact your local emergency services

Italy

• Telefono Amico Italia: 02 2327 2327
• Giocatori Anonimi: www.giocatorianonimi.it

European Union

• European Emotional Support Helpline: 116 123

16. Updates to This Disclaimer

This Risk Disclaimer may be updated periodically to reflect changes in regulations, products, or market conditions. The latest version will always be available on our website. Continued use of our products after updates constitutes acceptance of the revised disclaimer.

17. Contact Information