Member Services: Individual Sample Portfolio Statistics
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PTA'S AGRICULTURAL MARKETS SAMPLE PORTFOLIO SUGGESTIONS & SUBSCRIPTION FEE'S
TRADING FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS AND ARE NOT SUITABLE FOR EVERYONE.
The hypothetical trading performance by PTA Publications, Inc is set forth below, and on the on the separate sample portfolio pages. The performance tables present the hypothetical performance of PTA Publications, Inc.'s Agricultural Trading Program, which is the program that will be utilized to trade the newsletter subscription. The hypothetical composite rates of return shown are not representative of any rate of return actually achieved, as this newsletter advisory (program) does not trade discretionary accounts. Different accounts, even though traded accordingly to the same strategy or program, can have varying investment results. Different results can occur among accounts due to a variety of factors, such as:
∙ Procedures governing timing for the start of trading and means of moving toward full portfolio commitment for new accounts;
∙ The period during which accounts are active;
∙ Leverage employed; the size of the account, which can influence the size of positions taken and restrict the account from participating in all markets available to a strategy or program;
∙ The amount of monthly subscription fees;
∙ The amount of brokerage commissions;
∙ The timing of orders to open or close positions;
∙ The market conditions, which in part determine the quality of trade executions; and
∙ Trading instructions and restrictions of the client.
The material assumptions made in preparing these hypothetical results are the following:
THE RESULTS SHOWN IN THE SAMPLE PORTFOLIO'S HAVE NOT BEEN AUDITED BUT IN THE OPINION OF PTA Publications, Inc. PRESENT ACCURATE PERFORMANCE OF THE HYPOTHETICAL ACCOUNTS SHOWN FOR THE PERIODS INDICATED.
NEITHER THIS NEWSLETTER TRADING ADVISOR NOR ANY OF ITS TRADING PRINCIPALS HAVE PREVIOUSLY DIRECTED ANY ACCOUNTS.
THESE RESULTS CANNOT BE USED TO PREDICT THE FUTURE PERFORMANCE OF PTA Publications, Inc. OR IT'S PRINCIPAL.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF
WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT
WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN
FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL
PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY
PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
NOTES TO THE HYPOTHETICAL PERFORMANCE SUMMARY
Total Nominal Assets of the Individual Trader is the aggregate of cash, cash equivalents, committed equity and notional equity assigned to the account.
Largest Monthly Percentage Draw-Down is the largest percentage loss experienced by the program on a composite basis in any calendar month and includes the month and year of such drawdown. PTA Publications, Inc. has experienced monthly drawdowns, which are larger than the largest composite monthly draw down. These variances result from such factors as small account size, intra-month account opening or closing, significant intra-month additions or withdrawals and investment restrictions imposed by the client.
Largest Peak-to-Valley Draw-Down is the largest cumulative percentage loss experienced by the program on a composite basis from any calendar month-end to any subsequent calendar month-end and includes the month(s) and year(s) in which it occurred. PTA Publications, Inc. has experienced peak-to-valley drawdowns, which are materially larger than the largest composite peak-to-valley drawdown. These variances result from such factors as small account size, intra-month account opening or closing, significant intra-month additions or withdrawals and investment restrictions imposed by the client.
Monthly Rate of Return is calculated by dividing net performance by the sum of Nominal Beginning Equity of all accounts. Monthly Rate of Return is a composite rate of return and does not necessarily represent the actual rate of return experienced by any one account. Therefore, individual accounts may experience results, which are more or less favorable that the composite Monthly Rate of Return and such differences may be material due to differences in fees.
Annual compounded rate of return is computed using a hypothetical $1,000 Investment Index. The Index illustrates how a theoretical $1,000 investment, if left untouched, would have appreciated (depreciated) during the entire year. Since the performance table is the combination of many separate accounts, this is a theoretical figure and should not be taken as indicative of any results which an account may have in the future. The year to date rate of return is the ending $1,000 Index minus $1,000 divided by $1,000.