Risk Disclosure
Shishin publishes research output — daily market observations from a quantitative screen. We are not registered as an investment adviser, broker-dealer, or financial planner, and nothing we publish constitutes personalised financial advice. You alone are responsible for your trading decisions and the outcomes.
This page lists the risks of using the Service to make trading decisions. Read it once before you start; reread it whenever your circumstances change.
What the Service is — and isn't
Every morning, the Service publishes a list of stocks our quantitative screen flagged, along with entry levels, stop prices, position-sizing suggestions, and supporting indicator data. This is what the system saw. It is not:
- A recommendation that you buy or sell anything.
- A statement that any signal will be profitable.
- Advice tailored to your financial situation, risk tolerance, time horizon, or tax position — we don't know any of those.
- A substitute for your own due diligence or a qualified adviser's guidance.
Past performance
Any performance numbers we publish — including backtest results, hypothetical returns, or live paper-trading metrics — are not predictive. Markets change. The conditions a strategy was tuned for will not persist indefinitely. Backtests in particular can overstate future results because they:
- Are computed with the benefit of hindsight on closing prices rather than the prices you would have received in real time.
- May not fully reflect slippage, commissions, partial fills, short-borrow availability, or after-hours gaps.
- Reflect the system's parameters at the time of testing, not necessarily the same parameters today.
Specific risks of trading on signals
- Capital loss. You can lose money, including all of the money you invest. Stops reduce but do not eliminate this risk — gaps below the stop, halts, and illiquidity can produce losses worse than the stop level suggests.
- Drawdown. Even profitable strategies experience extended drawdowns. A signal feed can produce consecutive losing trades, or a multi-month period below high-water-mark.
- Slippage and execution. The entry / stop prices we publish are reference levels. The price you actually get depends on your broker, the spread at the moment, order type, and market conditions.
- Concentration. Following signals from the same sector or correlated assets can produce concentrated exposure that's riskier than the individual signals suggest.
- Sizing. Our suggested target-% of NAV is a reference, not personalised advice. Position sizes that work for one account may be too large or too small for yours.
- Tax. Active trading produces tax consequences. We don't advise on these. Consult a tax professional.
- System availability. The Service can be unavailable for maintenance, network issues, or unforeseen outages. Signals that don't arrive on time are not a basis for any compensation claim.
Suitability
The Service is intended for investors who:
- Understand stock-market mechanics and order types.
- Can afford to lose the capital they are trading with.
- Are willing to do their own due diligence on each signal.
- Are emotionally able to tolerate drawdowns without deviating from their own rules.
If any of that doesn't describe you, don't use the Service as a basis for live trading.
Conflicts of interest
We maintain a paper-trading account that follows the same signals published on the Service. We do not front-run our own signals, do not take a position in any stock specifically to promote it, and do not accept payment from any company or broker to feature a signal. The paper account exists for validation and transparency — its trades happen at the same signal-generation time everyone else sees.
Acknowledgement
By using the Service, you acknowledge that you have read, understood, and accepted the risks above. If anything in this document is unclear, contact us at [email protected] before relying on the Service for any trading decision.