Risk Disclosure

Every performance figure Quantinger displays — backtest results, walk-forward reports, Monte Carlo distributions, paper-trading bot results, the robustness scorecard, and the Golden Badge — is hypothetical and simulated. 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 actual results subsequently achieved.

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 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, all of which can adversely affect actual trading results. Because trades have not actually been executed, 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.

Note: this is adapted from the CFTC Rule 4.41 hypothetical-performance disclosure — the recognised standard for presenting simulated trading results. Quantinger is not a registered commodity pool operator or commodity trading advisor and does not manage money on behalf of users, so Rule 4.41 does not bind it directly. We use its disclosure language because it is the clearest existing standard for this exact problem, and because publishing simulated results without it would materially increase the risk that a user reasonably mistakes a backtest for a track record.

Quantinger is a research and analysis tool, not a financial advisor, broker, dealer, custodian, or fiduciary. No person at Quantinger is a licensed financial advisor or registered investment adviser. All content on the Service — including charts, indicators, backtest results, screener outputs, news summaries, AI responses, and articles — is provided for educational and informational purposes only.

Nothing on Quantinger constitutes a recommendation to buy, sell, or hold any cryptocurrency or financial instrument. You alone are responsible for your trading decisions and their consequences.

• Volatility: Cryptocurrency prices can move 10% or more in a single day and 50% or more in a week. Losses can be rapid and severe.
• Total loss: Cryptocurrencies can and have gone to zero. Entire projects have failed, developers have abandoned networks, and tokens have become permanently worthless.
• Liquidity risk: Some assets cannot be sold at quoted prices in stressed markets. Bid-ask spreads can widen dramatically during periods of volatility.
• Regulatory risk: Laws governing cryptocurrency change frequently. What is legal today may not be tomorrow. Assets listed on exchanges today may be delisted or restricted.
• Counterparty risk: Cryptocurrency exchanges can fail (as FTX demonstrated in 2022), be hacked, or freeze withdrawals. If you hold assets on an exchange, you bear this risk; we do not.
• Technology risk: Smart contract bugs, blockchain forks, lost private keys, wallet vulnerabilities, and protocol failures can result in irrecoverable loss of funds.
• Market manipulation: Cryptocurrency markets, particularly for smaller-cap assets, can be subject to manipulation including wash trading, pump-and-dump schemes, and coordinated activity. Screener signals and news can be affected by such activity.

Backtest results shown on Quantinger are hypothetical and simulated. They are computed from historical data and do not represent actual trading outcomes. Hypothetical performance has significant inherent limitations:

• Look-ahead bias: Even with our safeguards, subtle forms of look-ahead bias can exist in complex strategies.
• Survivorship bias: Historical data may not include assets that were delisted or ceased trading.
• Execution differences: Even with our slippage and fee model on by default, live execution — fill timing, real order-book depth, partial fills — will differ from simulation.
• Selection bias: You only deploy strategies that backtested well. This creates a selection bias that overstates expected performance.
• Overfitting: Strategies optimised on historical data often fail on new data due to overfitting to past market regimes.
• Regime change: A strategy validated on one market regime (trending, ranging, high/low volatility) can fail when the regime shifts, regardless of how well it backtested.
• Funding rates: Perpetual futures strategies are exposed to funding-rate costs that can compound significantly over time and are only approximated, not perfectly replicated, in simulation.
• Exchange outages and liquidity gaps: Historical data cannot fully capture the effect of a real exchange outage, halt, or a sudden liquidity gap on order execution.

A backtest showing 200% annual return with 10% drawdown does NOT mean live trading will produce similar results. The opposite is more common — strategies that backtested well frequently fail in live markets due to overfitting, market regime changes, slippage, and execution friction. Walk-forward analysis and Monte Carlo simulation, while better than a single naive backtest, do not eliminate these risks — they reduce them and make them measurable, which is the actual point of a validation platform: not to promise a working strategy, but to make failure visible before it costs real money.

A strategy earns the Golden Badge only when it passes all seven of Quantinger's robustness gates on historical data, computed by the Robustness Scorecard:

• Sample size — enough closed trades exist for the other six gates to be statistically meaningful, not noise from a handful of trades.
• Walk-forward efficiency — the strategy was tuned on one slice of history and re-tested on the next, unseen slice, and the out-of-sample result held up to a defined threshold.
• Monte Carlo P95 drawdown — resampling the trade sequence thousands of times keeps the 95th-percentile drawdown within a defined bound, so the one historical sequence you saw wasn't a lucky ordering.
• Parameter stability — small changes to the strategy's parameters don't collapse performance (a stable plateau, not a narrow cliff you happened to land on).
• Overfitting probability (PBO) — the probability of backtest overfitting is below a defined threshold.
• Realistic fills — the result was computed with fees and slippage applied, not a frictionless, unrealistic simulation.
• Positive out-of-sample expectancy — the strategy was still profitable on data it wasn't tuned on.

What the badge does NOT mean: it is not a prediction of future performance, not a recommendation to trade the strategy, not a guarantee of profitability, and not an endorsement by Quantinger. It means a strategy survived a defined set of statistical stress tests against historical data — no more, no less. Markets change. A badge earned today says nothing about whether the same strategy will earn one tomorrow, or whether it will be profitable in live conditions. Every limitation in Section 4 above applies to a Golden Badge result exactly as it applies to any other backtest.

Quantinger is research and validation software. It does not execute trades on any exchange, does not hold or have access to your funds or cryptocurrencies, does not have access to your exchange account or brokerage credentials, and does not provide personalized investment advice tailored to your financial situation. Because Quantinger never places a real order or touches real funds, it has no basis to claim that its users perform better — or worse — than traders generally. Paper Bots simulate trades against live market prices; they never send an order to a real exchange.

The AI assistant produces strategies, analysis, and explanations from inputs you control — your backtest data, your prompts, and (if you connect one) your own third-party API key. Its output is informational and educational only, not a recommendation, and may contain errors: inaccurate information, outdated information, hallucinated facts, confident-sounding but incorrect analysis, or content that misinterprets your intent. You are responsible for independently reviewing any strategy or analysis the AI produces before relying on it, exactly as you would review one you built yourself.

NEVER trade based on AI output without independent verification from multiple authoritative sources.

Strategies shared by other users in the marketplace are not vetted, reviewed, endorsed, or guaranteed by Quantinger. They may contain errors, may not work as described, may have undisclosed risks, or may have been backtested in ways that overstate performance. A verification badge on a shared strategy reflects that its published metrics were derived from a real run on Quantinger's engine, not that the strategy is safe, suitable for you, or likely to be profitable. Use shared strategies entirely at your own risk.

News headlines and sentiment analysis are sourced from third-party providers and processed automatically. Headlines can be misleading or incomplete. Sentiment classification is automated and imperfect. Market reactions to news are inherently unpredictable. Do not trade based solely on news or sentiment signals from this platform.

Quantinger's existence on your screen, the indicators it displays, the screener results it surfaces, the alerts it sends, and the articles it publishes — none of these constitute a recommendation to buy, sell, or hold any asset. You alone decide whether to trade, what to trade, and how much to risk.

Only trade with capital you can afford to lose entirely without it affecting your financial security or lifestyle. Cryptocurrency trading, leveraged positions in particular, can result in losses that exceed your initial deposit. Do not trade with rent money, emergency savings, borrowed funds, or capital earmarked for essential expenses.

Before trading cryptocurrency with meaningful sums, consider consulting:

• A licensed financial advisor in your jurisdiction;
• A tax professional (cryptocurrency has complex tax implications in most jurisdictions);
• A lawyer if substantial sums or entity structures are involved.

If and when Quantinger publishes user testimonials, they reflect one individual's stated experience. They are not vetted for typicality, are not a guarantee of future performance, and should not be relied upon as representative of the results any other user, including you, should expect.

By using Quantinger, you acknowledge that you have read, understood, and accept this Risk Disclosure. You acknowledge that trading cryptocurrency is speculative, that you may lose all funds you commit to trading, and that no representation has been made to you that you will profit. You assume full responsibility for your trading decisions and their consequences.