Risk Disclaimer

Last updated 9 September 2026

Trading in derivatives carries substantial risk

Futures and options are leveraged instruments. You can lose more than you expect, and you can lose it quickly. SEBI's own studies have repeatedly found that a large majority of individual F&O traders lose money. Trade only capital you can afford to lose entirely.

We are not advisers

Dalal Journal is not registered with SEBI as an investment adviser or research analyst. Nothing in the platform — no signal, level, strategy, backtest, alert or AI-generated comment — is a recommendation to buy or sell. Every decision, and its consequences, are yours.

What backtests do and do not tell you

• Results are computed on index (spot) candles, not option premiums. Real option P&L is affected by time decay, implied volatility and liquidity, and is usually worse.
• They exclude brokerage, STT, exchange fees and slippage, which on 1,000 trades are material.
• They assume clean fills at the modelled price. Real fills differ, especially on fast moves.
• Past performance does not predict future results. A strategy that worked over the tested window can stop working the day you switch it on.

We publish the strategies that lost money as well as those that made money, precisely so the library is not read as a set of promises.

Automated trading

If you enable the algo, orders are placed in your broker account without further confirmation. Software fails, connections drop and data goes stale. Set your limits, start in paper mode, and never leave an automated strategy running unattended with size you cannot afford to lose.

Data accuracy

Market data comes from third parties and may be delayed, incomplete or wrong. Verify anything important against your broker's own terminal before acting on it.