Version 2026-08-1
FIRE is a tool, not advice.
FIRE displays market data and sends the orders you click. It does not tell you
what to trade, when to trade, or whether any trade is a good idea. Every order
comes from a deliberate action you take.
You can lose money. Event contracts settle at either their full value or
at nothing. If a contract you hold settles against you, you lose everything
you paid for it. There is no partial recovery and no stop loss that can
prevent it, because settlement is a single instant.
Speed does not mean safety. FIRE is built to place orders quickly. That
makes it easier to act on a decision, and equally easier to act on a bad one.
Software fails. Your internet connection can drop, your computer can
sleep, the exchange can become unreachable, and FIRE itself can contain bugs.
An order you believe was sent may not have been sent, and an order you believe
failed may have filled. Always confirm your true position with your exchange
account, which is the only authoritative record.
The maximum loss limit is a convenience, not a guarantee. It checks the
worst case cost of a single order before that order is sent. It does not
limit your total exposure across several orders, it cannot cancel an order
that has already filled, and it does nothing if you turn it off.
Only risk money you can afford to lose entirely.