ninjacators candlestickpatternspotter manual

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    Manual

    CANDLESTICK PATTERN SPOTTER INDICATOR 

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    CONTENTS Import the Indicator to your NinjaTrader Platform .............................................. 2 

    Indicator Description ........................................................................................... 3 

    Indicator Settings .............................................................................................. 28 

    Disclaimer ......................................................................................................... 33 

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    Import the Indicator to your NinjaTrader Platform

    To import an indicator to your NinjaTrader, please be sure that you are saving the .Zip indicator

    file to your PC and not opening it.

    We simply want to save the file, so that it stays zipped. NinjaTrader will do the hard part for us.

    Please use the following steps to install the indicator:

    • Open NinjaTrader 

    • The Control Center will be the first window that is displayed when opening NinjaTrader

    • Go to Control Center>File>Utilities>Import NinjaScript 

    • Navigate to and choose the indicator file (starts with ‘ncat’) 

    • Click 'OK' 

    • Restart NinjaTrader

    You can also take a look at the following Link. There you will find a video explanation on ‘how to

    install the indicator’: https://www.ninjacators.com/Indicator-installation/ 

    https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/https://www.ninjacators.com/Indicator-installation/

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    Indicator Description

    The Candlestick Pattern Spotter does just what its name says, it detects the most common

    Candlestick Patterns directly on your chart.

    No matter if you day-, swing or position trade this indicator can be a great help spotting profitable

    Candlestick Pattern trade setups in any market and on any time frame.

    For detailed informations regarding the setup, use and the detailed settings please watch the

    detailed video here: CLICK HERE 

    Below you find an overview and short explanation of the 25 Candelstick Patterns the indicator

    automatically detects.

    http://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQhttp://youtu.be/lCvqznq9lEQ

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    Bearish Engulfing

    A bearish engulfing pattern may indicate a reversal pattern when formed in an up-trending

    market. This pattern consists of two candlesticks: A small candlestick followed by a large

    candlestick. Figure below displays the pattern: 

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 2

    Trading Pattern

    A two day candlestick pattern, which displays an down trend in the market.

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    Bullish Engulfing

    A bullish engulfing pattern may indicate a reversal pattern when formed in a down-trending

    market. This pattern consists of a large up body engulfing a preceding small down body, which

    appears during a downtrend. The up candle does not necessarily engulf the shadows of the down

    candle but totally engulfs the body itself. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern, which displays down-trend in the market.

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    Bearish Harami

    A Bearish Harami is a two candle Reversal candlestick pattern that occurs in up-trending market.

    This pattern consists of a small body contained within a prior relatively long body. Harami is old

    Japanese word for pregnant. The long green candlestick is the mother and the small candlestick

    is the baby. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern, which displays an uptrend in the market.

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    Bullish Harami

    A Harami is a signal, which implies an approaching potential change. The Bullish Harami is a

    candlestick pattern that occurs in down trending markets. This pattern consists of a small up body

    contained within a prior relatively long down body. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in a down-trending market.

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    Bearish Harami Cross

    Bearish Harami Cross Pattern is a doji preceded by a long body. The Bearish Harami Cross Pattern

    is a major reversal pattern and is more significant than a regular Bearish Harami Pattern. Figure

    below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern, which displays an uptrend in the market.

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    Bullish Harami Cross

    Bullish Harami Cross Pattern is a doji preceded by a long down body. The Bullish Harami Cross

    Pattern is a major bullish reversal pattern. It is more significant than a regular Bullish Harami

    Pattern. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in a down-trending market.

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    Dark Cloud Cover

    The Dark Cloud Cover is a two-candlestick pattern signaling a top reversal after an uptrend or, at

    times, at the top of a congestion band. It consists of a strong up body in the first candle. The

    second candle opens strongly above the previous candle high. However, candle closes near the

    low of the candle and well within the up body of prior candle. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in an up-trending market.

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    Doji

    The Doji is a neutral candlestick pattern representing indecision between bulls and bears. If a

    security has virtually equal opening and closing prices, this leads to a Doji. The length of the upperand lower shadows of a Doji can vary and consequently the resulting candlestick may look like a

    cross, inverted cross or a plus sign.

    A Doji with an equal open and close may be considered more robust but it is also rare in the real

    life. Hence, Doji is a particular signal showing indecision about the direction of the market and it

    represents a tug of war between buyers and sellers. Doji simply shows that prices have moved

    above and below the opening price during the day. It shows that neither the bulls nor the bears

    were able to gain control during the day.

    The Morning Star and the Evening Star are also doji formations.

    Trading Pattern Reversal/Continuation

    Trend Prediction Indecision

    Period Trend N/A

    Number of Candlesticks 3

    Trading Pattern

    • The real body is either a horizontal line or it is significantly small.

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    Evening Star

    Evening Star is a bearish Reversal candlestick pattern that occurs in up-trending markets. Evening

    Star patterns are the opposite of Morning Star patterns. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bearish

    Number of Candlesticks 3

    Trading Pattern• A three candle pattern in an up-trending market.

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    Morning Star

    A Morning Star is a bullish Reversal candlestick pattern that occurs in a bearish market. It is

    composed of a long down body in the first candle, a second small real body (up or down), and

    gapping lower to form a star. These two candlesticks define a basic star pattern. The third is an

    up candle that closes well into the down real candlestick body of the first session. Figure below

    displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 3

    Trading Pattern• A three candle pattern in a down-trending market.

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    Falling Three Methodes

    Falling Three Methods is a bearish continuation candlestick pattern that occurs in a declining

    markets. Figure below displays the pattern:

    Trading Pattern Continuation

    Trend Prediction Bearish

    Period Trend Bearish

    Number of Candlesticks 5

    Trading Pattern

    • A five candle pattern in a declining markets.

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    Rising Three Methodes

    The Bullish Rising Three Methods is a continuation pattern representing a pause during a trend

    without causing a reversal. This pattern consists of a long green candlestick followed by three

    small bodies in three consecutive candles. The small bodies represent some resistance to previous

    uptrend and they may even trace a short downtrend. These three reaction candles usually have

    down candlesticks but the bodies remain within the high and low range of the up candlestick. The

    pattern is an up candlestick completes the pattern on the fifth candle. The small downtrend

    between the two long up candlesticks represents a break during the uptrend. The upward trend

    then resumes and continues. Figure below displays the pattern:

    Trading Pattern Continuation

    Trend Prediction Bullish

    Period Trend Bullish

    Number of Candlesticks 5

    Trading Pattern

    • A five candle pattern in an up-trending market.

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    Hammer

    The hammer candlestick consists of a long lower shadow and a closing price near or at the high

    of the candle. This type of candlestick is considered bullish after a significant downtrend or in

    oversold market. The hammer can be very useful to predict trend reversals; from bearish to

    bullish. Figure below displays the pattern:

    Trading Pattern Bottom Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 1

    Trading Pattern

    • A one candle pattern in a declining markets.

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    Inverted Hammer

    Inverted Hammer Pattern consists of a long upper shadow and a small real body preceded by a

    long down real body. It is similar in shape to the Bearish Shooting Star. The shooting star appears

    in a downtrend and thus it becomes a potentially bullish inverted hammer. Figure below displays

    the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in a down-trending market.

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    Hanging Man

    The Hanging Man pattern is a single candlestick and a top reversal pattern. It is very similar to the

    Bearish Dragonfly Doji pattern. In case of the Bearish Dragonfly Doji pattern, the opening and

    closing prices are identical whereas the Bearish Hanging Man pattern has a small real body. Figure

    below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 1

    Trading Pattern

    • A one candle pattern in an up-trending market.

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    Piercing Line

    Piercing Line is a bottom reversal pattern. A long red candlestick is followed by a gap lower during

    the next candle while the market is in downtrend. The previous candle ends up as a strong up

    candlestick, which closes more than halfway into the prior red candlestick real body. Figure below

    displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in a down-trending market.

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    Shooting Star

    The Shooting Star Pattern suggests that prices may be approaching to a top, as its name, a

    shooting star. The shooting star is a small real body characterized by a long upper shadow, which

    gaps away from the prior real body. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 2

    Trading Pattern

    • A two candle pattern in an up-trending market.

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    Stick Sandwich

    The Bullish Stick Sandwich Pattern is characterized by consecutive higher opens for three candles,

    but results in an eventual close equal to the first candles close. It may warn that prices are now

    finding a support price. We may then see a reversal from this support level. Figure below displays

    the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in a down-trending market.

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    Upside Gap Two Crows

    The Upside Gap Two Crows pattern is a three-candlestick pattern and it signals a Reversal. The

    first candlestick is a long green candlestick followed by a real body that gap higher. Another down

    real body completes the pattern. The later one opens above the open and closes of the second

    day candlestick under the second candles close. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in an up-trending market.

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    Upside Tasuki Gap

    The pattern consists of two long up candlesticks with a gap upward between them during an

    uptrend. However the pattern also shows a down candlestick on the third candle partially closing

    the gap between the first two. Figure below displays the pattern:

    Trading Pattern Continuation

    Trend Prediction Bullish

    Period Trend Bullish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in an up-trending market.

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    Downside Tasuki Gap

    The pattern consists of two long down candlesticks with a gap downwards between them during

    a down trend. However the pattern also shows a up candlestick on the third candle partially

    closing the gap between the first two. Figure below displays the pattern:

    Trading Pattern Continuation

    Trend Prediction Bullish

    Period Trend Bullish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in an down-trending market.

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    Bearish Belt Hold

    The Bearish Belt Hold Pattern is a single candlestick pattern and an opening Marubozu that occurs

    in an uptrend. The pattern shows that the candle opens on its high; it then rallies against the trend

    of the market, and then closes near its low. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 1

    Trading Pattern• A one candlestick pattern, which displays an uptrend in the market.

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    Bullish Belt Hold

    The Bullish Belt Hold Pattern is a single candlestick pattern. It is basically a up Opening Marubozu

    that occurs in a downtrend. Figure below displays the pattern:

    Trading Pattern Reversal

    Trend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 1

    Trading Pattern• A one candle pattern in a down-trending market.

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    Three Black Crows

    A Three Black Crows Reversal candlestick formation occurs in uptrends. It's composed of 3 large

    bearish candlesticks.

    Trading Pattern Reversal

    Trend Prediction Bearish

    Period Trend Bullish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in an up-trending market.

    Note: The three black crows candle formation does not happen very frequently, but when it does

    occur, swing traders should be very alert to the crow’s caw. 

    Three White Soldiers

    A Three white Soldiers Reversal candlestick formation occurs in downtrends. It's composed of 3

    large bullish candlesticks. The pattern is the opposite of the three black crow’s formation.

    Trading Pattern ReversalTrend Prediction Bullish

    Period Trend Bearish

    Number of Candlesticks 3

    Trading Pattern

    • A three candle pattern in a down-trending and declining market.

    Note: The three white soldiers candle formation does not happen very frequently, but when it

    does occur, swing traders should be very alert to the crow’s caw. 

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    Indicator Settings

    2

    3

    4

    1

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    5

    6

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    7

    8

    9

    10

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    NUMBER 1 Global

    BarsType: You can choose if you like to use Normal Bars or Heiken Ashi Bars.

    NOTE: The Heiken Ashi Bars is a good tool to implement Candle Stick Patterns such

    as Doji on your Renko Charts.

    NUMBER 2 Ninjacators

    Short Logo: False: This will display the short Ninjacators logo 

    True: This will display the long Ninjacators logo 

    NUMBER 3 Alerts

    Choose any sound file within NinjaTrader for the different alerts.

    NUMBER 4 Colors

    Each and every color can be set to your personal preferences.

    NUMBER 5 Emails

    Send email alerts when a pattern gets triggered

    Important: You need to setup your Email in NinjaTrader first. You can watch the video

    on how to do that in right here: CLICK HERE TO WATCH A SHORT EXPLANATION VIDEO

    NUMBER 6 Names

    Use the default names for the different patterns or choose a name you like to have

    for each one of the patterns.

    NUMBER 7 Parameters

    EmailAddress: Set up your email address if you like to receive email alerts. You need

    to set up your Email in NinjaTrader first. (See Number 5)

    Font: Change the Style of the Font

    Label Distance: Choose the label distance

    Label Height: Choose the height of the label

    MatchCandleAndOutlineColor: When set true true the candle outline will have the

    same color as the pattern color.

    Text Color: Choose any color you like for the text

    Trend Strength: Choose the strength of the trend.

    NUMBER 8 Search for

    Choose the Pattern you like the indicator to search for. If set to ‘True’ the indicator

    will search for the pattern, if set to ‘False’ the indicator stops searching for that

    particular pattern.

    http://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6Ohttp://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6Ohttp://youtu.be/k21fwLHyDuY?list=PLLm0su57ipGu85KC-e90qNSZa5eklM-6O

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    NUMBER 9 Data

    True will update this indicator with every bar close. False will update this indicator

    with every incoming tick. We recommend you choose ‘TRUE’  for this indicator.

    Input Series: This default should Not be changed.

    Maximum bars look back: TwoHundredFiftySix : Do Not Change

    NUMBER 10 Visual

    Auto scale: True

    Displacement: 0

    Display in Data Box: The Indicator cannot be displayed in the Data Box.

    Label: Indicator Name

    Panel: Same as input series. 

    Price marker(s): True or False

    Scale justification: Right

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    Disclaimer

    ALL SOFTWARE IS PROVIDED TO YOU AS IS AND THERE ARE NO WARRANTIES, CLAIMS OR REPRESENTATIONS MADE

    BY Ninjacators.com OR ITS SUPPLIERS, EITHER EXPRESS, IMPLIED, OR STATUTORY, WITH RESPECT TO THE SOFTWARE,

    INCLUDING WARRANTIES OR CONDITIONS OF TITLE, QUALITY, PERFORMANCE, NONINFRINGEMENT,

    MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, NOR ARE THERE ANY WARRANTIES CREATED BY

    COURSE OF DEALING, COURSE OF PERFORMANCE, OR TRADE USAGE. NINJACATORS.COM AND ITS SUPPLIERS DO

    NOT WARRANT THAT THE SOFTWARE WILL MEET YOUR NEEDS OR BE FREE FROM ERRORS, OR THAT THE

    OPERATIONS OF THE SOFTWARE WILL BE UNINTERRUPTED. NINJACATORS.COM AND ITS SUPPLIERS DO NOT

    WARRANT THE ACCURACY OF THE REPORTS GENERATED. THE FOREGOING EXCLUSIONS AND DISCLAIMERS ARE AN

    ESSENTIAL PART OF THIS AGREEMENT AND FORMED THE BASIS FOR DETERMINING THE PRICE CHARGED FOR THE

    PRODUCTS. SOME STATES DO NOT ALLOW EXCLUSION OF AN IMPLIED WARRANTY, SO THIS DISCLAIMER MAY NOT

    APPLY TO YOU.

    NINJACATORS.COM AND ITS SUPPLIERS WILL NOT BE LIABLE TO YOU OR ANY THIRD-PARTY CLAIMANT FOR ANY

    INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL, OR INCIDENTAL DAMAGES, WHETHER BASED ON CONTRACT,

    NEGLIGENCE, STRICT LIABILITY, OR OTHER TORT, BREACH OF ANY STATUTORY DUTY, INDEMNITY OR CONTRIBUTION,

    OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE

    LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE LIMITATIONS OR

    EXCLUSIONS IN THIS PARAGRAPH MAY NOT APPLY TO YOU.

    Ninjacators.com and its suppliers shall not be liable in any respect for failures to perform hereunder due wholly or

    substantially to the elements, acts of God, labor disputes, acts of terrorism, acts of civil or military authority, fires,

    floods, epidemics, quarantine restrictions, armed hostilities, riots and other unav oidable events beyond the control

    of Ninjacators.com or its suppliers, and the time for performance of obligations hereunder by Ninjacators.com or itssuppliers subject to such event shall be extended for the duration of such event.

    Ninjacators.com a property of Ninjacators LLC did not summon and/or recommend ANY kind of trading, trading

    decisions, investment and investment decisions.

    CFTC RULE 4.41 - 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 PROGRAMS 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.

    GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED

    IN THE PAST, PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. WHILE THERE IS A POTENTIAL

    FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH TRADING FUTURES, STOCKS,

    FOREX, OPTIONS OR ANY KIND OF OTHER TRADING PRODUCTS CAN BE SIGNIFICANT. YOU SHOULD THEREFORE

    CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION

    SINCE ALL SPECULATIVE TRADING IS INHERENTLY RISKY AND SHOULD ONLY BE UNDERTAKEN BY INDIVIDUALS WITH

    ADEQUATE RISK CAPITAL