DISCLAIMER AND RISK WARNINGS

NOT ENDORSED BY BROKER

The Broker does not, by implication or otherwise, endorse the trading software or services from Raab & Moskowitz.

RISK OF TOTAL LOSS

Given that speculative trading in highly volatile markets presents the risk of substantial losses, including the risk of total loss, only persons knowledgeable enough and with high incomes and the ability to absorb such losses should consider participating in these trading programme. The information presented herein describes the trading management programmes promoted by Raab & Moskowitz using trading software and MTA as well as the risks associated therewith.

GEOGRAFICAL LIMITATIONS // NOT AN OFFER NOR SOLICITATION

The participation in the MTA in certain jurisdictions may be restricted. Potential investors are required to inform themselves about and to observe any such restrictions. As such, this information does not constitute, and may not be used for the purpose of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation.

Neither U.S. retail clients nor Japanese or North Korean customers are permitted. Accredited Investors from the United States might, however, be accepted once all compliance requirements have been approved by the Broker.

NOT LEGAL, TAX OR FINANCIAL ADVICE

Prospective investors should not construe the contents of this information as legal, tax or financial advice. Each prospective investor should consult his own professional advisers on (a) the legal requirements within the country of their residence for making an investment in the MTA, (b) any foreign exchange restrictions that may be relevant to him/her and (c) the income and other tax consequences that may be relevant to participation in the MTA.

INTENDED PUBLIC

The MTA is intended for, but not limited to, the professional or sophisticated investor, an experienced investor, or an ECP (eligible contract participant) who can carry the risks inherent in this type of investment. An investment in the MTA should be considered by an investor as speculative and high risk, and an investment made in the MTA should never constitute the sole or principal holding of any investor.

NOT A CTA

Raab & Moskowitz is not a Commodity Trading Advisor (“CTA”) under USA law.

LIMITED DISSEMINATION

The MTA by Raab & Moskowitz shall only be disseminated to select limited private persons or entities and is not offered to the general broad spectrum public investor profile, nor is the MTA suitable for every type of investor.

NOT PASSED UPON BY ANY GLOBALLY RECOGNISED REGULATORY BODY OR COMMISSION

NO GLOBALLY RECOGNISED REGULATORY BODY OR COMMISSION HAS PASSED UPON THE MERITS OF THE TRADING PROGRAMME, NOR HAS ANY SUCH GLOBALLY RECOGNISED REGULATORY BODY OR COMMISSION PASSED ON THE ADEQUACY OR ACCURACY OF THIS DISCLOSURE DOCUMENT. THE INFORMATION AND OPINION CONTAINED HEREIN DOES NOT IMPLY THAT THE INFORMATION CONTAINED HEREIN IS CORRECT AS OF ANY TIME SUBSEQUENT TO THE DATE SHOWN BELOW IN THE FOOTER. THIS DISCLOSURE IS NOT TO BE DISTRIBUTED UNDER ANY CIRCUMSTANCES OTHER THAN BY THOSE AUTHORISED TO DO SO BY Raab & Moskowitz.

BACKTESTING PERFORMANCES

The backtesting performance reports may have not been audited by independent public accountants. However Raab & Moskowitz believes that the information contained in any of the trading performance tables fairly represents the results of its past performance and the conditions in which they were derived.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS DO NOT REPRESENT ACTUAL TRADING.

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 PROGRAMMES, 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.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE PERFORMANCE

No representation is being made that accounts managed by Raab & Moskowitz’s partners as managed trading accounts will achieve profits in the future similar to those shown in any performance tables, and therefore it must be understood that past performance is never any guarantee of future performance.

RISK DISCLOSURE STATEMENT OTC DERIVATIVES

THE RISK OF LOSS IN TRADING OTC DERIVATIVES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IN CONSIDERING WHETHER TO TRADE OR TO AUTHORISE SOMEONE ELSE TO TRADE FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING:

• IF YOU ENGAGE IN OTC DERIVATIVES TRADING, YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS OR SECURITY DEPOSIT AND ANY ADDITIONAL FUNDS THAT YOU DEPOSIT WITH YOUR BROKER TO ESTABLISH OR MAINTAIN YOUR POSITION.
• IF THE MARKET MOVES AGAINST YOUR POSITION, YOU MAY BE CALLED UPON BY YOUR BROKER TO DEPOSIT A SUBSTANTIAL AMOUNT OF ADDITIONAL MARGIN FUNDS (MARGIN CALL), ON SHORT NOTICE, IN ORDER TO MAINTAIN YOUR POSITION. IF YOU DO NOT PROVIDE THE REQUESTED FUNDS WITHIN THE PRESCRIBED TIME, YOUR POSITION MAY BE LIQUIDATED AT A LOSS, AND YOU WILL BE LIABLE FOR ANY RESULTING DEFICIT IN YOUR ACCOUNT.
• THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISER, SUCH AS A “STOP- LOSS” OR “STOP-LIMIT” ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.
• THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN OTC DERIVATIVES TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.

THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE OTC DERIVATIVES MARKETS. YOU SHOULD THEREFORE CAREFULLY STUDY THIS DISCLOSURE DOCUMENT BEFORE YOU TRADE, INCLUDING THE DESCRIPTION OF THE PRINCIPAL RISK FACTORS OF THIS INVESTMENT CONTAINED HEREIN.

BE ADVISED THAT OTC DERIVATIVES TRADING INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS TRADING OR MANAGING YOUR MONEY. AN INVESTOR MUST READ AND UNDERSTAND THE CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

SOLE RESPONSIBILITY / TO HOLD HARMLESS

You alone will bear the sole responsibility of evaluating the merits and risks associated with the use of any materials on this site before making any decisions based on such materials. In exchange for using such materials, you agree not to hold Raab & Moskowitz and its directors, officers, employees, or its third-party information providers liable for any possible claim for damages arising from any decision you make based on the materials made available to you through this site.