Risk

Risk Disclosure

Effective 28 August 2026 · Last updated 28 August 2026

What Miller's Academy is

Miller's Academy is an educational business. We teach a process for analyzing markets and managing risk, and we build software that helps you apply it. That is the whole of what we do.

What Miller's Academy is not

We are not a broker-dealer, an investment adviser, a financial planner, or a commodity trading adviser, and we are not registered as any of those with the SEC, FINRA, the CFTC, the NFA, or any state regulator.

Nothing in our courses, lessons, slide decks, software, emails, live sessions, or conversations is:

• Investment advice, or a recommendation to buy, sell, or hold any security or instrument
• A solicitation or offer to trade anything
• Personalized to your financial situation, risk tolerance, tax position, or goals — because we do not know them
• A signal service, an alert service, or a managed account

If you need advice specific to your circumstances, speak with a licensed financial professional who is obligated to consider them.

You make your own decisions

Every trade you place is your decision and your responsibility. We do not place trades for you, we do not see your account, and we have no way of knowing whether a setup we teach is appropriate for your situation on any given day. If you act on something you learned here and lose money, that loss is yours.

About examples and results

Charts, setups, and trades shown in lessons are teaching examples. Many are historical or hypothetical, chosen because they illustrate a concept clearly — not because they represent typical outcomes.

Hypothetical and historical results have well-known limitations. They are prepared with the benefit of hindsight, they do not involve real financial risk, and they cannot account for the effect of slippage, fees, liquidity, or the psychological pressure of having actual money on the line. No hypothetical record can completely account for the impact of trading real capital.

We make no promise, guarantee, or projection of any result. Past performance does not indicate future results. Most people who attempt to trade actively lose money.

Options carry additional risk

Options can expire worthless, and a long option position can lose 100% of the premium paid. Options are not suitable for every investor. Before trading options you should read the standardized options disclosure document, Characteristics and Risks of Standardized Options, which your broker is required to provide.

Software is a tool, not a verdict

The Trader's Bible, the trade journal, the scanner, and any indicators we distribute are aids to your own analysis. They can contain errors, display stale or incorrect data, or fail to load. Never place a trade solely because a tool of ours displayed something. Verify anything that matters against your broker and your own charts before you act.

No relationship is created

Buying a course, using our software, or communicating with us does not create a fiduciary, advisory, brokerage, or professional relationship of any kind between you and Miller's Academy.