Disclosure 2

WARNING!
Commodity Trading is risky, you should not trade with money you can not afford to lose.

"HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 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 THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. 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 TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO 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 AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS."

IN ACCORDANCE WITH RULES 2-29(b)(3) AND 2-29(b)(5) OF THE NATIONAL FUTURES ASSOCIATION, PLEASE NOTE THAT EXPECTATIONS OF FUTURE PROFITS MUST ALWAYS BE WEIGHED AGAINST THE RISK OF LOSES AND THAT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THIS INFORMATION IS OBTAINED FROM SOURCES DEEMED TO BE RELIABLE, BUT IS NOT GUARANTEED AS TO ITS ACCURACY OR ADEQUACY NOR ARE ANY OPTIONS STATED NECESSARILY A STATEMENT OF FACT.

Disclaimers:
This information is not intended to be published or made available to any person in any jurisdiction where doing so would result in contravention of any applicable laws or regulations. Accordingly, if it is prohibited to make such information available in your jurisdiction or to you (by reason of your nationality, residence or otherwise) it is not directed at you. Before reviewing the pages of our site, you must be satisfied that doing so will not result in such a contravention and is not so prohibited, and by proceeding to review them you will be confirming that this is not the case.

You must not distribute any of the information to any other person without attaching a copy of this page and obtaining the agreement of such other person to comply with the terms set forth in this disclaimer notice. If you distribute any of the information without attaching a copy of this disclaimer notice or obtaining the agreement of its recipient to comply with the terms set forth you will be liable to indemnify Floyd Upperman & Associates (Floyd Upperman) against any costs or other losses arising from any complaint, claims or actions arising directly or indirectly from such distribution.

RISK DISCLOSURE STATEMENT
THE RISK OF LOSS IN TRADING COMMODITIES 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 AUTHORIZE SOMEONE ELSE TO TRADE FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING:

IF YOU PURCHASE A COMMODITY OPTION, YOU MAY SUSTAIN A TOTAL LOSS OF THE PREMIUM AND OF ALL TRANSACTION COSTS.

IF YOU PURCHASE OR SELL A COMMODITY FUTURE OR SELL A COMMODITY OPTION, YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS 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, ON SHORT NOTICE, IN ORDER TO MAINTAIN YOUR POSITION. IF YOU DO NOT PROVIDE THE REQUIRED 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.

UNDER CERTAIN MARKET CONDITIONS, YOU MAY FIND IT DIFFICULT OR IMPOSSIBLE TO LIQUIDATE A POSITION. THIS CAN OCCUR, FOR EXAMPLE, WHEN THE MARKET MAKES A "LIMIT MOVE."

THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, 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.

A "SPREAD" POSITION MAY NOT BE LESS RISKY THAN A SIMPLE "LONG" OR "SHORT" POSITION.

THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS.

THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. YOU SHOULD THEREFORE CAREFULLY STUDY COMMODITY TRADING BEFORE YOU TRADE.

TRANSACTIONS ON MARKETS LOCATED OUTSIDE THE UNITED STATES, INCLUDING MARKETS FORMALLY LINKED TO A UNITED STATES MARKET MAY BE SUBJECT TO REGULATIONS WHICH OFFER DIFFERENT OR DIMINISHED PROTECTION. FURTHER, UNITED STATES REGULATORY AUTHORITIES MAY BE UNABLE TO COMPEL THE ENFORCEMENT OF THE RULES OF REGULATORY AUTHORITIES OR MARKETS IN NON-UNITED STATES JURISDICTIONS WHERE YOUR TRANSACTIONS MAY BE EFFECTED. BEFORE YOU TRADE YOU SHOULD INQUIRE ABOUT ANY RULES RELEVANT TO YOUR CONTEMPLATED TRANSACTIONS AND ASK THE FIRM WITH WHICH YOU INTEND TO TRADE FOR DETAILS ABOUT THE TYPES OF REDRESS AVAILABLE IN BOTH YOUR LOCAL AND OTHER RELEVANT JURISDICTIONS.

THIS COMMODITY TRADING ADVISOR IS PROHIBITED BY LAW FROM ACCEPTING FUNDS IN THE TRADING ADVISOR'S NAME FROM A CLIENT FOR TRADING COMMODITY INTERESTS. YOU MUST PLACE ALL FUNDS FOR TRADING WITH A FUTURES COMMISSION MERCHANT.

NOTICE REQUIRED BY THE CFTC
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 ACTUALLY BEEN EXECUTED THE RESULTS MAY HAVE UNDER OR OVER COMPENSATED FOR THE IMPACT IF ANY OF CERTAIN MARKET CONDITIONS SUCH AS THE 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 PROFITS OR LOSSES SIMILAR TO THAT SHOWN. THE RISK OF LOSS IN FUTURES TRADING CAN BE SUBSTANTIAL. YOU SHOULD CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS.

IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. 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 TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO 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 AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

NO TRADING SYSTEM CAN GUARANTEE PROFITS

No guarantees can be made for success. Past performance is not a guarantee of future profits. Futures trading is NOT Floyd's only means of income. He also invests in stocks, real estate as well as generates income from other businesses. We have both winning trades and losing trades with our systems! We trade professionally, but not daily. We wait for what we believe to be ideal trading opportunities.

Disclosure 1

RISK DISCLOSURE STATEMENTS

Please understand that futures trading involves risk and is not suitable for all types of investors. This is a very risky business, and people do lose money investing in futures contracts, and options on futures. There are no implied guarantees or promises made on this web site anywhere. In addition, I am registered with the CFTC as a CTA, NFA# 0281183. My registration allows me to legally assist and educate individuals in commodity trading. I am a professional and my approach in both teaching and trading is professional. I educate clients, teaching them my own proprietary concepts, methods, and trading systems. It is up to the individual to make all the final decisions in their own trading. Furthermore, I am not licensed to accept funds from individuals for the purpose of trading commodity interests. You must place all funds for the purpose of trading directly with a futures commission merchant (FCM). My expert analysis is available and updated daily with my careful review of the markets based on my strict adherence to my system and methods which are revealed to members. The entire live trading system is available to clients only. The system is updated daily with official daily pit session settlement prices.

THE NFA REQUIRES THAT I STATE THE FOLLOWING:
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been actually 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 profits or losses similar to those shown.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. 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 THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

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 TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO 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 AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULT.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

Risk Statement: Anyone wishing to invest in the Commodities and Futures markets should seek his or her own professional financial advice. Hypothetical performance results have inherent limitations, some of which are described below. No representation is being made that any person will or is likely to achieve profits or losses similar to those shown. There are frequently sharp differences between hypothetical results and the actual results that may be achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. 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 to adhere to a particular trading program in spite of trading losses are areas which can also adversely affect trading results. Hypothetical performance cannot account for all that may effect trading results. Past performance does not, of course, provide any guarantee of future performance and you should not rely on the performance presented herein as an indication of future performance. You should be aware that other performance methods or reviews for different periods might produce different results.

NO TRADING SYSTEM CAN GUARANTEE PROFITS

HYPOTHETICAL TRADING RESULTS CAN BE UNRELIABLE

FUTURES CONTRACTS ARE VOLATILE AND RISKY

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

Please also read and understand the following:
I may have positions long or short in the market at anytime, or I may have no positions at all! No where on this site do I regularly reveal my private trading positions. My trades are my business and my business only. I strongly believe that you should never place a trade solely because someone else is. Furthermore, I am not going to promote a dependency on others.

Also, if you are looking for tips on what is hot and what is not, this web-site and this service is not going to be for you. I do not believe in giving or receiving tips which can not be substantiated with evidence or supported by data, theory or a trading methodology. I believe that it is up to the individual to do the work and make our own independent decisions to achieve success. A trader must develop an individual and personalized "feel" for the markets that can only be obtained by experience and observation. This is something I have assisted many traders with. My professional assistance is always available and I always do my best to assist my members & clients. That is my personal guarantee to you - A 200% effort on my part to help you learn and understand my proprietary trading system and to be able to implement the system and data into your own trading strategies in a professional and hopefully profitable manner, however no guarantees can be made for success. This is a very risky business - My advice is to have a "backup" plan and other means for generating income as well.

Trading is NOT my only means of income.
I also invest in stocks, real estate as well as generate income from businesses, including this service. Nowhere on this site do I state, imply, or intend to imply that trading is my sole source of income. The markets dictate the opportunities, and as traders we must wait on those opportunities. Trading for any other reason, other than a real (defined) opportunity based on predetermined factors, is a recipe for monetary loss! There are no guarantee that there will be opportunities daily, weekly or even monthly. All we can do is wait and act only when the opportunities present themselves.

More is also required beyond simply recognizing an opportunity. While this knowledge is obviously very critical, knowing how and when to act once an opportunity is identified is equally as crucial! I decided long ago that it was in my best interest to trade and invest in a large assortment of assets (e.g. stocks, futures, mutual funds, bond funds, tax sheltered investments, real estate investments and business ventures). At anytime, an opportunity might reveal itself in any one of these markets, thus by covering as many as possible, I have more opportunities! This is called "diversification", and its important in my opinion. That is why I trade and invest in many different classes of assets as listed.

Like all professional speculators, I too have profitable transactions and unprofitable transactions, profitable weeks and unprofitable weeks, profitable months and unprofitable months and so forth. That is all part of the 'trading and/or speculating' business! No matter what the asset, speculating is an inherently risky business! Starting a business is a risky speculative venture just as purchasing a contract of corn is a potentially risky move. To realize a profit or take advantage of potentially being in the right place at the right time requires a risk taking measure.

Disclaimer

Floyd Upperman & Associates website is for informational purposes only and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments.

No warranty or guarantee of any kind, expressed or implied, is given regarding the accuracy, reliability, veracity, or completeness of the information provided here or by following links from this or any other page within this site, and under no circumstances will the author or service provider be held responsible, or liable for errors, or omissions resulting in any loss or damage caused or alleged to be caused by information contained in the material presented on the site, including but not limited to direct, indirect, incidental, special or consequential damages caused by using the information.

Conclusion:
Do not put all your eggs in one basket. Be smart about it. If trading were an easy way to generate income, more people would be doing it successfully, and fewer people would be losing money at it! The fact is most people lose money trading futures, and many give up and quit without ever making a dime of profit. I have lost money trading futures and/or options on futures myself plenty of times. But I've also made money on many trades too, here's an example of a 900%+ return on one trade (this was from our fall 2003 soybean options trade). But the bottom line is making money trading futures is risky and you should never trade with money you can not afford to lose. No trading system or strategy can guarantee profits and past performance is not indicative of future results.

Let me also address a common question, which is rarely answered by other teachers and system developers in this field. That question is as follows:

Do I trade the system myself? And if I do and if the system is so great, why don't I just trade the system myself, rather than providing this service?

Yes I do trade the system! In fact I use the same systems and data presented on this web-site!
However, trading is not my only source of income. It is true that I do make a profit from offering my system, experience and assistance to others for a fee. I am often asked that if I have such a good trading system, why don't I just trade the system rather than provide this service. As I stated above, I do trade it. However, no system can guarantee profits and trading futures and options is always risky. There are times of drawdowns, as well as times when there is nothing setup to trade. Many people mistakenly think that there are always opportunities in the market. The truth is, there are not. I have learned, through my own costly mistakes, that trading for the sake of trading only results in loss in the long run! I have also learned that the markets do not care if I need to make money this week or next. With trading, you have to be able to wait for the opportunities. Sometimes there are many opportunities with our system, and sometimes there are none. By providing this service in addition to my other investments (such as real estate investing) and my trading activities (including stocks and tax sheltered investments) I am able to secure regular stable income while building and growing my portfolio of diversified investments! Best of all however, I am doing what I enjoy most in life every day! And that is tracking, trading, and studying the markets! Through this service I hope I can provide you with some of the knowledge I have gained through my many years of trading, and experience in trading and tracking many markets!

Thank you!
Floyd W. Upperman Jr.

Click Here for more DISCLOSURES

NO TRADING SYSTEM CAN GUARANTEE PROFITS

No guarantees can be made for success. Past performance is not a guarantee of future profits. Futures trading is NOT Floyd's only means of income. He also invests in stocks, real estate as well as generates income from other businesses. We have both winning trades and losing trades with our systems! We trade professionally, but not daily. We wait for what we believe to be ideal trading opportunities.