I am selling an indicator, what kind of disclaimer do I need for the buyer?
As far as MQL market is concerned customers should study the results in demo mode and decide whether they want to pay for the product or not. The disclaimers are somehow already there in website and no obligation for you to create them. Anyway if you are too ethical you can write a disclaimer in description section.
" I do not want any kind of legal comeback from this"
The problem is, assuming you're in the United States, no disclaimer will protect you from being sued. Anyone can sue anyone for any reason, it's just a matter of does this disclaimer of yours resolve you of legal liability when it comes to a judge or jury (often it does not). But nothing you say, write, etc. will completely prevent you from being sued. If you don't want any chance of being sued, then you can't sell the EA.
As far as MQL market is concerned customers should study the results in demo mode and decide whether they want to pay for the product or not. The disclaimers are somehow already there in website and no obligation for you to create them. Anyway if you are too ethical you can write a disclaimer in description section.
" I do not want any kind of legal comeback from this"
The problem is, assuming you're in the United States, no disclaimer will protect you from being sued. Anyone can sue anyone for any reason, it's just a matter of does this disclaimer of yours resolve you of legal liability when it comes to a judge or jury (often it does not). But nothing you say, write, etc. will completely prevent you from being sued. If you don't want any chance of being sued, then you can't sell the EA.
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I have built lots of indicators and EA's in my time and I have a chap who would like to purchase an indicator from me.
I am happy to provide the indicator and we have spoken extensively of the risks and such. He is 100% aware of what he is getting into.
I haven't however ever sold one of my indicators before and the only reason I have not sent him the code and accepted his money is because I do not want any kind of legal comeback from this. He is aware the indicator is not 100% right and every trade will not be a winner. He understands the risks.
I basically want to know what does my receipt/disclaimer need to include?
Thanks in advance.