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Day-Trading Risk Disclosure Statement

NAFA Capital Markets, is furnishing you with this Day-Trading Risk Disclosure Statement to provide you with some basic facts concerning the risks inherent in day trading. You should consider the following points before engaging in a day-trading strategy. For purposes of this notice, a "day-trading strategy" means an overall trading strategy characterized by the regular transmission by a customer to his/her account executive of intra-day orders to effect both purchase and sale transactions in the same security or securities.