Risk disclaimer
Please read this before acting on anything published here.
Education, not advice
Everything on this site is general education about how markets, companies, trading tools, financial reports and the economy work. None of it is investment, tax or legal advice, and none of it takes account of your circumstances, goals or finances. No page is a recommendation to buy, sell or hold any security, or to open an account with any broker or prop firm. Before you make a decision that matters, consider speaking to a licensed professional who can look at your situation.
Trading and investing carry risk
Prices can fall quickly and by large amounts, and a stock can open far from the previous close after earnings or news, past any stop order. Share offerings, warrants and convertible securities can dilute existing holders. Short selling has no upper limit on its loss. Options can expire worthless, and a sold option or a spread with an uncovered leg can lose far more than the premium received. A strategy that worked on past data can stop working.
Dividends can change
A company's board can reduce, suspend or stop a dividend at any time. Past payments say nothing certain about future ones.
Prop firm accounts
Prop firm evaluations cost money, and their rules differ from firm to firm and change over time. Many evaluation and funded accounts trade in a simulated environment. The rule sets described on this site are hypothetical; the rules that apply to you are the ones on your firm's own pages.
Tax
Tax rules and thresholds change. The pages explain how the rules work and use round hypothetical figures. Check current figures with the IRS and consider professional advice before relying on them.
Examples and games are hypothetical
Worked examples, viewpoints, quiz questions and game rounds use invented companies, portfolios, prices and rule sets with round numbers to show how a calculation or a decision works. The price moves in the games are made up. None of it describes a real result or forecasts one.
Calculators give estimates
The calculators do arithmetic on the numbers you enter. Their output is only as good as those inputs, and a company's own filing or your broker's statement may use a different method. Check any result against the source document before relying on it.
Data and third parties
The ticker tape shows quotes from a separate service that may be delayed or unavailable. See also the terms of use and the editorial policy.