Risk disclosure

Trading can lose you money, and usually does

Trading financial instruments carries a high risk of loss. Most retail traders lose money. That is not a warning we are required to paste here and hope you skip; it is the central fact this curriculum is built around, and if it were not true the course would be shorter.

Only risk money you can lose entirely without it changing how you live. Never trade money you need for rent, food, debt, medicine or anybody who depends on you. Never trade borrowed money, and never trade with money you have promised to somebody else.

Leverage, margin, derivatives, contracts for difference, futures and options can lose you more than you put in. In some products and some countries, a losing position can leave you owing money you never deposited.

This platform is education and simulation only

We are not a broker, a dealer, an exchange, an investment adviser, a fund or a signal service. We do not hold your money, place orders, or execute anything. Nothing here is a recommendation to buy, sell or hold any instrument, and nothing here is advice about your particular situation, because we know nothing about your particular situation.

Everything you trade inside this platform is simulated, using generated or historical data. No order reaches a market. No money moves. Performing well in a simulation demonstrates that you performed well in a simulation.

Simulated and backtested results are not real results

Hypothetical performance has well-known limitations, and they all point the same way. A simulation is designed with the benefit of hindsight. It cannot reproduce the cost of crossing a spread at the wrong moment, an order that does not fill, a market that gaps past your stop, a platform outage, or what it feels like to be down four in a row with real money.

Backtests are worse still, because it is easy to keep adjusting a rule until history looks kind to it. World 15 is devoted to how that goes wrong.

No result on this platform, and no figure in your own journal analytics, predicts what you would make in a real market. Past performance is not a guide to future performance, whether that past is real or simulated.

We make no claim about money you might make

We publish no earnings claims, no income examples, no average results, no success rates and no profit testimonials, and we never will. Anybody in this industry who shows you a screenshot of their returns is selling you something, and the honest answer to what you will earn is that nobody knows and most people lose.

Paying us buys access to lessons and practice. It does not buy an edge, a strategy that works, or a result of any kind.

Your rules, your country, your tax

What you are allowed to trade, on what leverage, with what protections, and what happens to the money if your broker fails, all differ by country and change over time. The curriculum flags where a rule is jurisdiction-specific, and it cannot be a substitute for reading the rules that apply where you live.

Profits and losses may be taxable, and how they are taxed depends on where you live and what you traded. We give no tax advice. Speak to somebody qualified in your own country.

Check that any broker you use is authorized by the regulator in your country, and check it on the regulator's own register rather than on the broker's website.

Certificates and progress

A chapter mastered here means you passed a quiz about that chapter. It is not a professional qualification, not a license, not a credential any regulator recognizes, and not evidence that you can trade profitably.

If trading stops feeling like a choice

Trading can become compulsive in the same way gambling can, and the early signs are the same: chasing a loss, hiding what you are doing, trading to feel something, borrowing to keep going, or being unable to stop when you told yourself you would.

If you recognize that, stop and talk to somebody. The National Problem Gambling Helpline in the United States is 1-800-522-4700, free and confidential, 24 hours. In the United Kingdom, the National Gambling Helpline is 0808 8020 133. Elsewhere, search for your national gambling helpline, or start with your doctor.

World 11 covers this at length, without judgment. There is no version of this where the right move is to trade your way out.