Legal
Risk Disclosure
Last updated November 6, 2026
Trading Is Risky
Trading stocks, options, futures, foreign exchange and crypto assets involves substantial risk of loss and is not suitable for every person. You can lose some or all of the money you trade. Products that use leverage or margin, including futures, options and margin accounts, can lose more than your initial deposit. Only trade with money you can afford to lose.
Education Only, Not Advice
Everything provided by The Wacky Whale, including lessons, calculators, journal statistics, emails and any other material, is general education and information. It is not investment, financial, tax or legal advice, and it is not a recommendation or solicitation to buy, sell or hold any security, option, futures contract, currency or crypto asset. Nothing we publish is tailored to your finances, goals or risk tolerance.
Who We Are Not
The Wacky Whale is not registered as an investment adviser, broker-dealer, futures commission merchant, introducing broker, commodity trading advisor or commodity pool operator with the SEC, the CFTC, any state or any self-regulatory organization. We do not manage accounts, place trades for anyone, hold client funds or receive payment from brokers for sending you to them.
Examples And Calculators
Examples in lessons use made-up numbers to explain a concept. They are not real trades and are not a forecast. Calculator results are arithmetic on the numbers you enter. They do not account for every real-world factor, such as spreads, commissions, slippage, gaps, partial fills, margin changes, taxes or early option assignment.
Hypothetical And Past Results
Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading, and they may have under- or over-compensated for the impact of market factors such as lack of liquidity. Simulated programs are generally 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. Past performance, real or simulated, is not indicative of future results.
Your Decisions
You are solely responsible for your trading decisions and their results. Consider talking with a licensed financial professional about your own situation before you trade. Before trading options, read Characteristics and Risks of Standardized Options, published by The Options Clearing Corporation and available from your broker.
Think Big. Risk Small. Start Today.
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