Summary

The Advisor’s trading approach uses a technical and trend based approach. Specifically, it uses technical data and analysis for detecting trends for time entry, exit strategy and additional point of trades. The Advisor intends to follow all the signals generated by the program, however, the Advisor reserves the right to exercise discretion over the signals should the Advisor choose to do so. In doing so, the Advisor can monitor the signals and trades and the Advisor can manually intervene with the signals, if necessary. The Advisor has full access and control over the system software and is responsible for all updates and maintenance over the system. Technical analysis is based upon the theory that a study of the markets themselves will provide a means of anticipating the external factors that affect the supply and demand of a particular commodity in order to predict future prices. Technical analysis postulates that the marketplace itself represents the collective judgment of a larger number of traders and analysis concerning the value of any particular commodity interest. By analyzing market characteristics (as opposed to underlying economic forces) that have not yet been directly reflected in price levels, it may be possible to predict future price moves. Furthermore, technical analysis generally holds that, irrespective of basic economic forces, markets have dynamism of their own which is wholly outside the scope of fundamental analysis that should be reflected in any trading approach. Accordingly, technical analysis generally focuses on a detailed study of such data as actual daily, weekly and monthly price fluctuations, trading volume variations and change in open interest, as the most effective means of attempting to predict price movements. Technical traders frequently utilize charts and computers for analysis of these items, including a series of mathematical measurements and calculations designed to monitor market activity for the particular trading strategy. Trading recommendations are based on signals generated by charts, manual calculations or computers. Technical trading approaches may incorrectly analyze the effect of various market forces or price trends, particularly as technical analysis is typically based on historical market activity. Such analysis may not in fact be applicable to the current markets (which many perceive as undergoing rapid and significant changes) and may be of little use when fundamental factors, particularly unexpected occurrences, such as certain governmental interventions, dominate the market.