1. In short
- You can lose some or all of the money in your trading account.
- Steps can have losing trades, losing days and long losing periods.
- No strategy, ours included, can guarantee a profit or avoid losses.
- Steps is software, not advice. Whether trading suits you is your decision.
2. Leveraged products
The markets Steps trades (gold, stock indices and Bitcoin) are usually offered by brokers as CFDs with leverage. Leverage means a small price move can create a large gain or loss relative to your deposit. Prices can move sharply, including around news and market opens, and can gap past a stop-loss so that the loss is larger than planned. Bitcoin is especially volatile and may trade at weekends when liquidity is thin.
3. Automated trading
- The strategy follows rules. Markets can behave in ways those rules have not seen, and a strategy that worked in the past can stop working.
- Trades open and close without asking you, unless you turn on confirm-each-trade.
- Changing settings, pausing or closing trades by hand changes your results compared with other customers.
- Your broker's prices, spreads, swaps, commissions and execution differ from other brokers', so two accounts never get identical results.
4. Technical risks
The Service depends on your terminal, your computer or VPS, your internet connection, your broker, our servers and third-party providers. Any of them can fail or be slow. While your terminal is offline no new trades open, and closes may be delayed until it reconnects. Every trade is opened with a stop-loss held by your broker to limit this risk, but a stop-loss is not a guarantee: in fast markets it can be filled at a worse price.
5. Past and simulated results
Backtests, demo results and examples are not a reliable guide to future performance. Simulated results do not include every real-world cost and effect, such as slippage, rejected orders or changing spreads. Any figures we publish are labelled as demo, simulated or live, and none of them are a promise.
6. Prop firm challenges
Prop Unlock is designed to help keep within a firm's limits; it cannot guarantee you pass a challenge or keep a funded account. Firms set and change their own rules and may refuse payouts if their rules are broken. Challenge fees are paid to the firm and are usually not refundable.
7. What you can do
- Start with a demo account and watch how the strategy trades.
- Use a lower risk size and set your own daily loss limit in the EA.
- Use close-only before events you do not want to trade through.
- Never deposit money you need for living costs, and seek independent advice if you are unsure.