Legal
Educational disclaimer
Nothing published here is investment advice, and this page says exactly what that means.
Last updated: 25 October 2026
1. Educational purpose only
Witan Way is an educational service. Every signal, chart, and metric we publish is the output of a rules-based strategy applied to historical and current market data. Witan Way is not a registered investment advisor in any jurisdiction, and nothing in the service is investment advice, portfolio management, a recommendation, or a solicitation to buy or sell.
2. Simulations and past performance
Backtests and equity curves are simulations of how a rule would have behaved on historical data. Simulated and past behaviour of a strategy is no indication of future results. Reference lines such as the 60/40 benchmark and the 4% return reference are illustrative comparisons, not forecasts, and drawdown is shown as an observed consequence, never as a setting you choose.
3. Signals are read on indices, not products
Signals are always computed on broad market index series, never on a named ETF, share class, or wrapper. Which product to use, in which account, and with which costs and tax treatment, is your choice, made with your own broker.
4. Capital at risk, your responsibility
Capital is at risk in any market, and you may lose money. You make every execution decision independently, in your own account. For advice tailored to your personal circumstances, consult a licensed financial advisor in your jurisdiction.
5. How the figures are produced
Every figure we publish is produced by applying a published set of rules to market data. Nothing is discretionary, and no figure is the result of a judgement made after the event. The framework, the sleeves it allocates across, and the assumptions it rests on are described on the methodology page.
6. Data sources
Market data comes from EODHD, on daily adjusted closes. Where a series relies on a proxy because no single instrument carries enough history, the proxy is named next to the figure. Where a series stops at a date beyond which its history is not comparable, that limit is stated next to the figure rather than smoothed over.
7. What the figures include, and what they do not
Cost assumptions are not the same on every series, so each figure states its own next to the chart instead of relying on a single sentence here. Transaction costs are modelled on some series and are exactly zero on others. Management fees, bid and ask spreads, and taxes are included on no series, anywhere on this site. No figure on this site reflects the return of a real account.
8. Known limits of a simulation
Results produced by applying today’s rules to past data carry the benefit of hindsight: the rules were written by people who had already seen that history. A simulation also cannot reproduce the cost of acting, the discipline of holding a position through a loss, or the fact that some instruments available then are not available now. Read a simulated record as a description of a rule, not as evidence about a future outcome.
9. Changes to the method
Changes to the rules are recorded, with their date, in the change log on the methodology page. An entry is appended and never rewritten, so the history of the method stays readable.
Below is the standard disclaimer that appears on every screen exposing performance numbers: