Risk Disclosure Statement

1. About this statement

Dojiq is trading-automation software: a decision-support layer that reads market data, generates signals from strategies you choose or configure, applies a fixed set of risk checks, and, where you enable it, transmits orders to a broker or exchange that you connect using your own API credentials. Dojiq is not a broker, exchange, custodian, wallet, bank, e-money institution, money transmitter, or investment adviser; it holds no client money or assets; and it does not provide advice. The regulated activities of holding your assets and executing your trades are performed by your broker or exchange under a separate agreement between you and them (see the division of responsibility and EULA §4).

The purpose of this statement is to make the risks of live trading explicit before you take them on. The risks described below are inherent to trading itself, and to automated trading in particular. They cannot be removed, neutralised, or fully mitigated by any feature of the software, by the risk gauntlet, by any strategy, or by any setting you choose. No disclosure document can list every possible risk; the risks below are the principal ones, not an exhaustive catalogue, and other risks may exist now or arise in the future.

You should read this statement together with the full Terms of Service, EULA (including its risk section and its limitation of liability and indemnity), and Privacy Policy, and together with the separate terms and risk disclosures of every broker or exchange you connect. Where this summary and a broker or exchange document differ, that third party’s own current document governs your relationship with that third party.

2. Risk of loss, including total loss

You can lose some or all of the capital you allocate, and losses can happen quickly. Live trading puts real money at risk on every position. Adverse price moves, a sequence of losing trades, fees and costs, or a single sharp market event can each reduce your capital, and in combination they can erase it. There is no floor that protects your account from loss, and there is no mechanism in the software that guarantees you will not lose money.

The amount you can lose scales with the choices you make. In particular:

• How much you allocate. The larger the capital and the larger the share of your net worth you commit, the larger the amount you can lose in absolute terms.
• Position sizing. Larger positions relative to your account concentrate risk and magnify the impact of any single adverse move.
• Concentration. Trading a small number of instruments, or instruments that move together, reduces diversification and can turn one bad move into a large loss.
• Leverage. Where an account permits or reports leverage or margin, losses can exceed the amount you deposited (see section 9).
• Frequency. Automated strategies can trade often; each trade incurs costs and carries its own risk, and frequent trading can compound small losses and frictions into a large drawdown.

Only trade with money you can afford to lose entirely. Do not use funds you need for living costs, rent or mortgage, debts, taxes, education, retirement, or any other obligation, and do not trade with borrowed money you could not repay if the position went against you. Treat any capital you allocate to live trading as capital you are prepared to lose in full.

3. No advice; self-directed trading

Your use of Dojiq is entirely self-directed. You, and not Dojiq, make and are responsible for every decision: which markets to trade, which strategies to run, how to size and schedule them, when to arm or disarm them, how much capital to allocate, which broker or exchange to use, and whether to trade at all. When you arm a strategy for live trading, you authorise in advance every order that the software generates and transmits under that configuration, exactly as if you had entered each order yourself.

Dojiq does not provide investment, financial, legal, tax, accounting, or regulatory advice, and nothing produced by the software is a recommendation, solicitation, offer, or opinion that any asset, transaction, strategy, or position is suitable, appropriate, or profitable for you. This applies to every output of the software, including:

• signals, buy/sell/hold indications, and conviction or agreement scores;
• strategy rankings, fitness scores, and leaderboards;
• projections, forecasts, target prices, and probability or confidence figures;
• backtests, simulated results, and paper-trading performance;
• dashboards, charts, insights, news, and sentiment.

All of these are informational and educational only. They are generated by models and rules operating on data, they are inherently uncertain, they can be wrong, and they may be based on assumptions that do not hold. They must not be treated as advice or relied on as a basis for any decision without your own independent judgement. If you need advice tailored to your circumstances, consult a licensed professional.

4. No performance guarantee

No strategy, signal, model, ensemble, indicator, or the risk gauntlet can guarantee a profit or prevent a loss. We make no representation, warranty, or promise that any strategy is or will be profitable, that it will meet any objective, or that it will perform in line with any past or simulated result. Markets are competitive and adversarial; an approach that worked in the past can stop working, sometimes abruptly, as conditions change or as others adapt.

To be explicit, and so that you are not misled by optimistic framing: our own research has found no strategy that reliably outperforms a simple buy-and-hold benchmark on an out-of-sample basis. A strategy that looks excellent on the data used to select it (in-sample) frequently performs far worse on new data (out-of-sample); this gap is a normal and well-documented consequence of fitting to the past.

Simulated and back-tested performance has inherent and serious limitations, and you should weigh them heavily:

• it is prepared with the benefit of hindsight, on data that already happened;
• it does not involve real money and carries no real financial risk;
• it typically does not, and often cannot, reflect all real-world frictions such as slippage, latency, partial fills, liquidity limits, fees, spreads, financing costs, and the market impact of your own orders;
• results depend on the exact assumptions, parameters, and period chosen, and different reasonable choices can produce very different outcomes.

For all of these reasons, past performance and simulated or paper performance are not a reliable indicator of future or live results. Do not assume that a strategy which performed well historically, or in simulation, will perform well with your real money.

5. Automated-trading & system risk

When you enable live trading, the software can generate and transmit orders automatically, according to the configuration you have set, without a further manual step from you for each order. You accept the nature of automated trading, including that it can act quickly, act repeatedly, act at times you are not watching or awake, and act in ways that produce losses before you become aware of them or can intervene.

Automated systems depend on many components working correctly and continuously, and any of them can fail. This includes the software itself, its models and rules, the market-data and news feeds it relies on, your internet connection and devices, the network path to the broker or exchange, and the broker’s or exchange’s own systems and APIs. A failure, delay, defect, misconfiguration, or unexpected interaction in any of these can cause, among other things:

• orders that should have been placed to be missed or delayed;
• orders to be duplicated, or placed in the wrong size, direction, or instrument;
• exits (including stop-loss or take-profit) to fail to trigger, trigger late, or fill at a worse price;
• the software to act on stale, incomplete, or incorrect data;
• positions to remain open, or to be opened, when you did not intend it.

Controls such as kill-switches, entry pauses, trading schedules, maintenance mode, and stop-loss or take-profit logic are tools intended to help you manage risk. They are not guarantees. They can themselves fail, be delayed, or be defeated by market conditions (for example, a price that gaps straight through a stop level, or a market that halts), and they must not be relied on as a safety net that will always work. You remain responsible for monitoring your account and your open positions.

6. The gauntlet is not a guarantee

The risk “gauntlet” is a fixed, platform-operated sequence of risk checks that a candidate live order must pass before the software transmits it. It is a discipline and risk-reduction feature, applied uniformly, that is designed to hold back orders in certain conditions. It is not, and must not be understood as, a guarantee of any kind.

In particular, the gauntlet does not:

• guarantee a profit, or that a permitted trade will be profitable;
• prevent losses, or protect your capital from a decline;
• detect, anticipate, or avoid all adverse or dangerous conditions;
• ensure good timing, or that a blocked trade would have lost money.

Because the gauntlet applies rules to imperfect information, it will sometimes block trades that would have been profitable and sometimes permit trades that produce losses. Passing the gauntlet is not an endorsement of a trade, and being blocked by it is not a judgement that a trade was bad. Do not treat the presence of the gauntlet as a reason to take more risk than you otherwise would.

7. Market & volatility risk

Prices are volatile and can move sharply, suddenly, and unpredictably. Markets are driven by many factors, including economic data, corporate news, monetary policy, geopolitical events, changes in sentiment, and the actions of other participants, and they can move for reasons that are not apparent at the time or that only become clear later.

Specific market risks include:

• Gaps. A price can jump from one level to another with little or no trading in between (for example, over a weekend, around an earnings release, or on major news), so that an exit executes far from your intended level, or not where you expected.
• Out-of-hours moves. Significant moves can occur while a market is closed or while you are away, and the opening price can be very different from the previous close.
• Halts and disorderly markets. Trading can be halted, suspended, or become disorderly, and a two-sided price may not be available when you need to act.
• Regime change. Market conditions can shift (for example, from trending to choppy, or from calm to highly volatile), and a strategy suited to one regime can perform poorly in another.

Adverse moves can, and sometimes do, happen faster than any automated control can react.

8. Crypto-asset risk

Crypto-assets carry heightened risk over and above the general risks in this statement, and you should treat them with particular caution. Among other things:

• Extreme volatility and possible total loss. Crypto-asset prices are especially volatile and can lose a substantial part, or all, of their value in a short time.
• Liquidity. Some crypto-assets are thinly traded, so you may be unable to enter or exit at or near the price you expect, or at all.
• Always-on markets. Crypto markets trade 24 hours a day, every day, so adverse moves can occur at any time, including while you sleep, with no scheduled close to interrupt them.
• Newer, evolving regulation. Crypto-assets are a newer asset class subject to changing and, in places, uncertain regulation, which can affect their availability, value, and how they may be traded.
• Not a deposit; no compensation scheme. Crypto-assets and associated balances are not bank deposits and are not covered by any deposit-guarantee scheme (such as the Dutch depositogarantiestelsel) or by any investor-compensation scheme, and are not FDIC or SIPC protected (see EULA §4 and Appendix A).
• Technological and custody risk. Crypto-assets depend on blockchains, protocols, third-party custodians, and key management, any of which can fail, be attacked, fork, or be exploited.

Only trade crypto-assets if you understand these characteristics and are prepared to lose the full amount you commit.

9. Leverage & margin risk

Some connected accounts may permit or report leverage or margin. For example, a margin brokerage account can show buying power that is a multiple of your actual equity, meaning the account can support positions larger than the cash you have deposited.

Leverage amplifies outcomes in both directions. It increases potential gains, but it increases potential losses by the same mechanism, and it introduces additional risks that do not exist when you trade only with settled cash:

• Losses can exceed your deposit. With leverage, a sufficiently adverse move can produce a loss greater than the amount you put in, leaving you owing money.
• Margin calls and forced liquidation. If your equity falls below the level the broker requires, the broker can demand more funds or close your positions, potentially at the worst possible time and at a loss, without further notice.
• Financing costs. Borrowing to hold leveraged positions typically incurs interest or financing charges that reduce returns and accumulate over time.
• Hidden leverage. Position-size settings that are based on reported buying power rather than on your actual equity can quietly size trades against leverage you did not intend to use.

You are responsible for understanding your effective leverage, for setting position sizes accordingly, and for deciding whether to use margin at all. If you do not want to use leverage, size your trades against your settled cash or equity, not against reported buying power.

10. Liquidity, slippage & execution risk

The price at which an order actually executes can differ, sometimes materially, from the price you saw or expected. This is a normal feature of real markets, and it can work against you.

• Slippage. In fast-moving, thin, or volatile markets, orders can fill at prices worse than intended.
• Partial or no fills. An order may fill only in part, or not at all, so that you end up with a smaller position than planned, or none, or are unable to exit when you want to.
• Latency. There is always some delay between a signal being generated, an order being transmitted, and the order being executed. During that delay the price can move, and the fill you receive reflects the market at the moment of execution, not the moment of the signal.
• Costs. Fees, commissions, spreads, and financing costs reduce your returns and can turn a small gross gain into a net loss, especially with frequent trading.
• Market impact. Larger orders can move the price against you as they fill.

11. Data & third-party risk

The software relies on data and on services provided by third parties, and the quality and availability of both are outside our control.

Data risk. Market data, prices, news, sentiment, and the indicators computed from them may be delayed, incomplete, inaccurate, revised, or temporarily unavailable. Strategies that act on flawed or delayed data can generate poor signals and poor trades, and errors in upstream data can propagate into the software’s outputs.

Third-party risk. The service depends on brokers, exchanges, market-data and news providers, payment and email providers, and hosting and infrastructure providers. Any of these can experience outages, errors, capacity limits, rate limits, security incidents, changes to their systems or terms, or can restrict, suspend, or discontinue service. Any such event can prevent the software from operating normally, prevent you from trading or exiting, delay or distort information, or otherwise affect your account, at times entirely beyond our control.

12. Custody & counterparty risk

Your money and assets are held by your broker or exchange, not by Dojiq, and are therefore subject to that party’s solvency, security, controls, and terms, and to the counterparty risk that comes with relying on it. A broker or exchange could, among other things, become insolvent, be hacked or suffer a security breach, freeze or delay withdrawals, restrict or close your account, make operational errors, or change its terms and the services it offers.

Investor-protection and safeguarding arrangements, where they apply at all, protect against a broker’s or exchange’s custodial failure, not against market losses or trading losses, and they differ by provider and by asset. For example, securities held at a member US broker may benefit from SIPC protection up to defined limits if the broker fails, while cryptocurrency generally has no such protection. None of these arrangements apply to Dojiq, which holds nothing on your behalf. You are responsible for understanding what protection, if any, applies to each account you connect. See EULA §4 and Appendix A for the detail and links.

13. Tax & regulatory risk

You are solely responsible for determining, reporting, and paying any taxes that arise from your trading, and for complying with all laws and regulations that apply to you in your jurisdiction. Tax treatment of trading gains, losses, and crypto-assets can be complex, can vary by jurisdiction and by your circumstances, can change, and can in some cases apply retroactively. Regulatory treatment can also change and can affect whether, how, or on what terms you may trade.

Dojiq does not provide tax, legal, or regulatory advice, and nothing in the software or this statement is such advice. If you are unsure about your obligations, seek professional advice before you trade.

14. Suitability is your responsibility

Because Dojiq does not give advice and does not assess your circumstances, you alone are responsible for deciding whether trading is right for you. Before you enable live trading, consider honestly whether trading, and automated trading in particular, is appropriate given your financial situation, your objectives, your experience and understanding, and your tolerance for loss.

You should be able to answer yes to all of the following before trading live: you understand how the software places orders on your behalf; you understand the risks in this statement; you are using only capital you can afford to lose in full; you are not relying on trading profits to meet any obligation; and you will monitor your account rather than assume the software will protect you. If any answer is no, do not trade live, or reduce your exposure until every answer is yes.

15. Your acknowledgement

By using Dojiq for live trading you acknowledge and agree that: you have read and understood this Risk Disclosure Statement; you understand that it describes the principal risks but is not an exhaustive list; you accept the risks described; you are trading on a self-directed basis with money you can afford to lose; and you are solely responsible for your trading decisions and for their outcomes, including any losses.

This statement is incorporated into, and is subject to, the Terms of Service and the EULA, including their disclaimers of warranty, limitation of liability, and indemnity. If anything here is unclear, do not trade until it is clear to you. Questions may be sent to info.dojiq@gmail.com, which is our sole official email address; any message that appears to come from Dojiq or deToon from a different address is not from us.