Disclaimer & Terms of Use

Last Updated: March 2026

PLEASE READ THIS ENTIRE DISCLAIMER CAREFULLY BEFORE USING THIS WEBSITE OR ACCESSING ANY MORNINGEDGE SCAN RESULTS. BY ACCESSING THIS WEBSITE OR VIEWING SCAN PUBLICATIONS THROUGH TELEGRAM OR ANY OTHER CHANNEL, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY THE FOLLOWING TERMS.

1. Not Financial Advice

MorningEdge (morningedge.io) is an automated research system that identifies and publishes observations about momentum stocks based on pre-market data including price gaps, relative volume, spread, and news catalysts. The information provided on this website and through associated Telegram scan publications is for informational and educational purposes only and does not constitute investment advice, financial advice, trading advice, or any other type of advice.

MorningEdge does not recommend that you buy, sell, or hold any security. No content on this website or in any scan publication should be interpreted as a recommendation or solicitation to buy or sell any security or to engage in any trading strategy. The system publishes observations; any trading decision you make is yours alone.

The MorningEdge Telegram channel serves as a validation mechanism — it provides timestamped, pre-bell publication of scan results so that anyone can independently verify that diary entries and published results were not backfitted after the fact. The Telegram channel is not an advisory service, alert service, or picks service. It is a public record of what the system identified before the market opened.

Nothing on this website creates a fiduciary relationship, advisory relationship, or client-adviser relationship between MorningEdge and any user, reader, or visitor. You should not treat any content on this website as a substitute for professional financial advice from a qualified, licensed financial advisor who understands your specific financial situation, risk tolerance, and investment objectives.

2. Not a Registered Investment Adviser or Broker-Dealer

MorningEdge is not registered with the U.S. Securities and Exchange Commission² (SEC), the Financial Industry Regulatory Authority (FINRA), or any state securities regulatory authority as an investment adviser, broker-dealer, or in any other capacity. The operator of MorningEdge is not a licensed financial professional, registered investment adviser, registered investment adviser representative, or registered broker-dealer.

MorningEdge operates as a bona fide publication of general and regular circulation within the meaning of Section 202(a)(11)(D) of the Investment Advisers Act of 1940 (the "publisher's exclusion"). The scan results and content distributed by MorningEdge are general in nature, are not tailored to the specific financial circumstances of any individual reader, and are made available to all readers simultaneously.

Publisher's Exclusion: The Five-Element Lowe v. SEC Test

To qualify for the publisher's exclusion, a publication must satisfy all five elements established in Lowe v. SEC, 472 U.S. 181 (1985) and subsequent SEC guidance. MorningEdge's operational structure is designed to meet each element:

1. Simultaneous distribution. All scan results are published to the Telegram channel at the same time for all readers. No reader receives earlier or preferential access to selections.
2. No personalization. Scan results are generated by an automated system applying uniform criteria to the entire market. No output is tailored to the financial situation, risk tolerance, or objectives of any individual reader.
3. No ongoing advisory relationship. MorningEdge does not provide individualized follow-up, portfolio recommendations, or ongoing guidance to any reader. There is no client relationship.
4. General circulation. The Telegram channel is publicly accessible. The website is publicly accessible. Content is available to all visitors without qualification, subscription fee, or gatekeeping.
5. No discretionary management. MorningEdge does not have access to, manage, or exercise any control over any reader's brokerage account, funds, or trading decisions.

Important limitation: Whether any particular publication qualifies for the publisher's exclusion depends on the totality of facts and circumstances, not merely on a statement of intent. The exclusion is not self-executing and is not guaranteed by the above description. If the SEC, a state regulator, or a court were to determine that MorningEdge's operations do not satisfy the publisher's exclusion, the operator could be required to register as an investment adviser or cease operations. This disclaimer does not constitute a legal opinion on MorningEdge's regulatory status.

State registration notice: Certain states — including but not limited to Texas, Massachusetts, and California — impose state-level investment adviser registration requirements that may apply independently of federal law. MorningEdge is not registered in any state. Readers in these and other states should be aware that their state securities regulators may take a different view of the publisher's exclusion than the federal standard described above. If you are uncertain whether MorningEdge's content is lawful to receive in your jurisdiction, consult a licensed attorney in your state before acting on any information published here.

3. Risk Disclosure

Trading and investing in securities involves substantial risk of loss and is not suitable for every person. You should carefully consider whether trading or investing is appropriate for you in light of your financial condition, level of experience, and risk tolerance. Only risk capital should be used for trading — that is, money you can afford to lose entirely without affecting your financial security or lifestyle.

Specific risks include but are not limited to:

• You may lose some or all of the money you invest. There is no guarantee that any trade, strategy, or approach will be profitable.
• Past performance is not indicative of future results. Historical scan results, back-tested data, or previous outcomes have no bearing on future performance.
• Day trading and short-term trading are especially risky. The stocks identified by MorningEdge are momentum stocks that may experience extreme volatility.
• Liquidity risk. Under certain market conditions, it may be difficult or impossible to liquidate a position at a desired price.
• Gap risk. Stocks that gap up in pre-market trading may reverse sharply after the market opens.
• Technology risk. Automated scanners, publication delivery systems, and brokerage platforms can fail.

Do not trade with money you cannot afford to lose.

4. No Guarantee of Accuracy

While MorningEdge endeavors to provide accurate and timely information, the operator makes no warranty or representation, express or implied, regarding the accuracy, completeness, reliability, timeliness, or suitability of any information provided.

The scanner relies on third-party data sources for stock prices, volume data, bid/ask spreads, and news feeds. These data sources may contain errors, omissions, delays, or inaccuracies. Scan results are generated by automated software and are not individually reviewed by a human before publication.

You are solely responsible for independently verifying any information before making trading or investment decisions.

5. Conflict of Interest Disclosure

5.1 Operator Trading

The operator of MorningEdge buys and sells the same securities identified by the scanning system. This is not a hypothetical possibility — it is the standard operating procedure. The operator uses the same automated system that generates the publicly published scan results to execute trades in the operator's own brokerage account.

The operator's trades are executed at or near the same time that scan results are published to the Telegram channel. The system is designed so that scan results are published before the market opens, and the operator's orders are submitted at market open alongside any reader who chooses to act on the same observations. The operator does not front-run publications — scan results are timestamped and publicly visible before any orders are placed.

5.2 Current Trading Status

As of this writing, MorningEdge operates exclusively with paper (simulated) trading. The operator's brokerage account is a paper trading account. No real capital is at risk. All published results — including diary entries, profit/loss figures, and performance metrics — reflect simulated executions, not real money.

If and when MorningEdge transitions to live trading with real capital, this change will be disclosed prominently on the website, in the Telegram channel, and in an updated version of this disclaimer. The date of transition will be clearly stated.

5.3 No Financial Interest Beyond Trading

The operator does not receive payment, compensation, or any other consideration from the issuers of securities identified by the scanning system. MorningEdge does not engage in stock promotion. The operator's sole financial interest in the identified securities is through the operator's own trading activity as described above.

5.4 Operator Acknowledgment

The operator acknowledges that trading the same securities that are published to readers creates an inherent conflict of interest, even when trades are executed simultaneously. Readers should factor this conflict into their own decision-making. The operator does not guarantee that its execution prices will match those achievable by any reader.

6. Hypothetical and Simulated Performance

Any performance data, returns, profit/loss figures, or trading results presented on this website are based on hypothetical, simulated, or paper trading results. Hypothetical and simulated performance results have inherent limitations.

CFTC Rule 4.41(b):
"HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN."

MorningEdge-specific limitations of published results:

• Paper trading involves no real capital. The operator's paper trading account uses simulated money. There is no real financial risk to the operator, which may affect decision-making in ways that differ from live trading.
• Backtested results contain look-back bias. Any backtested performance was developed with knowledge of historical data. Strategy parameters were selected, in part, based on what worked in the past. This does not predict future performance.
• Slippage is modeled, not measured from live executions. The system applies an estimated slippage cost to simulated trades. Actual slippage in live markets may be higher or lower than the modeled amount, particularly in volatile or illiquid securities.
• Partial fills are not reflected. Simulated results assume full execution of all orders. In live markets, orders may be partially filled or not filled at all, particularly for larger positions or less liquid securities.
• Taxes are not modeled. Published results do not account for federal, state, or local income taxes, which can materially reduce net returns.
• Psychology is not modeled. Simulated trading does not replicate the emotional and psychological pressures of trading with real money, which can significantly affect decision-making and outcomes.

MorningEdge commits to clearly disclosing any transition from paper trading to live trading. Until such disclosure is made, all published results should be understood as simulated.

7. AI and Automated Technology Disclosure

7.1 Nature of AI Outputs

MorningEdge's scan results are generated by automated algorithms, including components that use artificial intelligence and machine learning techniques. These outputs are computational observations, not investment advice. AI and algorithmic systems can and do fail — they may produce incorrect, misleading, or incomplete outputs due to data errors, model limitations, software bugs, or unforeseen market conditions.

No licensed financial professional reviews individual scan results before they are published. The system operates autonomously once configured.

7.2 Human Oversight

A human operator (the "Chief Human Agent") reviews and approves the overall system design, strategy parameters, and operational rules. However, individual scan results on any given trading day are generated and published automatically without human review of the specific securities selected. The operator monitors system health and performance but does not approve or reject individual selections before publication.

7.3 No AI Liability Waiver Beyond Applicable Law

The use of AI and automated technology does not create any additional liability waiver beyond what is stated elsewhere in this disclaimer and permitted by applicable law. The limitations of liability set forth in Section 8 apply to AI-generated outputs to the same extent as any other content. Nothing in this section is intended to waive any rights that cannot be waived under applicable law.

8. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MORNINGEDGE, ITS OPERATOR, AND ANY AFFILIATED PERSONS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF OR IN CONNECTION WITH:

• The use of, or inability to use, this website or any scan publication;
• Any trading or investment decisions made based on information provided by MorningEdge;
• Any errors, omissions, inaccuracies, or delays in the content;
• Any loss of profits, revenue, data, or goodwill;
• Any technical failures, interruptions, or security breaches;
• Any outputs generated by AI or automated systems, whether correct or incorrect.

Your sole remedy for dissatisfaction with MorningEdge is to stop using the website and stop viewing scan publications.

9. Indemnification

By using this website or viewing MorningEdge scan publications, you agree to indemnify, defend, and hold harmless MorningEdge and its operator from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to your use of the website, your trading activities, or your violation of these terms.

10. Terms of Use

By accessing morningedge.io or viewing MorningEdge scan publications, you agree to the following:

• You are at least 18 years of age.
• You understand that MorningEdge provides automated scan results and observations, not investment advice.
• You are solely responsible for your own trading and investment decisions.
• You will not redistribute, resell, or republish MorningEdge content without prior written permission.
• You will not hold MorningEdge or its operator liable for any trading losses.

MorningEdge reserves the right to modify, suspend, or discontinue the website or scan publications at any time without notice.

11. Third-Party Links and Services

This website may contain links to third-party websites, tools, or services. MorningEdge does not endorse, control, or assume responsibility for the content, accuracy, privacy practices, or availability of any third-party websites or services.

12. Privacy and Data Collection

12.1 Information Collected

MorningEdge may collect the following categories of information:

• Telegram data: If you join the MorningEdge Telegram channel, Telegram may make your username, user ID, and public profile information visible to channel administrators. MorningEdge does not request or require any additional personal information from Telegram channel members.
• Website analytics: Standard web analytics data including pages visited, visit duration, referring URLs, browser type, device type, and approximate geographic location (derived from IP address). This data is collected in aggregate and is not used to identify individual visitors.
• Voluntary submissions: If you voluntarily contact MorningEdge by email or other means, any information you provide in that communication (such as your name and email address) will be collected.

12.2 How Information Is Used

Information collected is used to: operate and maintain the website, understand aggregate usage patterns, respond to inquiries, and improve the quality of published content. Information is not used for targeted advertising or marketing to individuals.

12.3 What MorningEdge Does NOT Do

• MorningEdge does not sell, rent, license, or share your personal information with third parties for marketing or any other commercial purpose.
• MorningEdge does not collect financial account information, brokerage credentials, portfolio data, or trading history from any reader.
• MorningEdge does not use personal information to personalize or tailor scan results or any other content to individual readers.

12.4 Data Retention and Deletion

Analytics data is retained in aggregate form. If you contact MorningEdge and subsequently request deletion of your personal information, MorningEdge will make reasonable efforts to honor your request within 30 calendar days. To request deletion, contact the operator via the website.

12.5 Third-Party Platforms

The MorningEdge Telegram channel is hosted on Telegram's platform. Telegram's own privacy policy and terms of service govern your use of Telegram and Telegram's collection, use, and sharing of your data. MorningEdge has no control over Telegram's data practices. Similar disclaimers apply to any other third-party platform through which MorningEdge content may be accessed.

12.6 State and International Privacy Rights

• California (CCPA/CPRA): California residents have the right to know what personal information is collected, request its deletion, and opt out of its sale. MorningEdge does not sell personal information. To exercise your rights, contact the operator via the website.
• Virginia (VCDPA), Colorado (CPA), Connecticut (CTDPA): Residents of these states have similar rights to access, delete, and opt out of the processing of personal data for targeted advertising or sale. MorningEdge does not engage in targeted advertising or data sales.
• European Union / United Kingdom: If you are located in the EU or UK, be advised that MorningEdge is operated from the United States and does not specifically target EU/UK residents. If EU/UK data protection laws (including GDPR) apply to your use of this website, you may have additional rights including the right to access, rectify, erase, restrict processing, and port your personal data. Contact the operator to exercise these rights.

13. Governing Law

These terms shall be governed by and construed in accordance with the laws of the State of Vermont, without regard to its conflict of laws principles. Any disputes arising from these terms or your use of MorningEdge shall be resolved through binding arbitration conducted in Washington County, Vermont, in accordance with the rules of the American Arbitration Association.

14. Severability

If any provision of this disclaimer is found to be unenforceable or invalid, the remaining provisions shall remain in full force and effect.

15. Acceptance, Electronic Records & Updates

By accessing morningedge.io or viewing MorningEdge scan publications through any channel, you accept these terms. No separate click-through, signature, or affirmative "I Agree" action is required — continued use of the website or Telegram channel constitutes acceptance.

You acknowledge that an automated audit trail (including IP address and timestamp) may serve as evidence of your access to these terms.

MorningEdge may update this disclaimer from time to time. Material changes will be noted in the "Last Updated" date at the top of this page. Your continued use of the website or Telegram channel after a revision constitutes acceptance of the updated terms. You are encouraged to review this page periodically.

By using morningedge.io or viewing MorningEdge scan publications, you confirm that you have read, understood, and agree to all of the terms set forth above.