Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") govern your application to, enrollment in, and participation in Praxis ("Praxis," "the Bootcamp," "the Program," "the Service"), a fixed-term training and frameworks bootcamp offered by MNA Research LLC ("MNA Research," "we," "us," or "our"). By submitting an application, enrolling in the Program, or accessing any part of the Service, you agree to these Terms. If you do not agree, do not apply, enroll, or access the Service.

You must be at least 18 years old and legally capable of entering into a binding agreement to apply for or participate in the Program.

The Program is offered only to adults who are at least 18 years of age. We may decline to enroll anyone we are prohibited by law from serving.

2. Nature of the Program

Praxis is a fixed-term, application-reviewed training bootcamp. It teaches an analytical framework for reading market structure that MNA Research designed itself, together with a set of playbooks built on that framework. Enrollment is not open self-service checkout — every application is reviewed individually, and we may accept or decline any application at our sole discretion. Submitting an application or payment does not guarantee acceptance or a seat in the Program.

Upon acceptance, a Program term runs for a fixed period of two (2) months from the enrollment or start date we confirm to you (the "Program Term"). During the Program Term, the Program is designed to include: (a) access to the Training Ground, our subscriber web application, in which the playbooks are coded onto live and historical charts, including its built-in historical scrubber and replay tooling; (b) complimentary real-time access to the AXIOM dashboard, a separate MNA Research product, for the same Program Term, provided as part of the training so participants can observe the same market structure live; and (c) participation in a private Discord community reserved for enrolled participants, where you may ask questions about the framework and the tools and where members may voluntarily share their own notes (participation is optional, and shared member content is not provided, reviewed, or endorsed by MNA Research). The exact features made available may be adjusted from time to time and are described in more detail on the enrollment page current at the time of your application.

The Training Ground and playbooks are built and tracked on SPX and SPY. The concepts taught are general fundamentals of option market structure, and participants learn to apply them themselves; MNA Research makes no representation that any playbook, level, or marker shown in the Training Ground applies to, is calibrated for, or works on any other security.

Praxis is educational and informational in nature. It is not a promise of any particular trading outcome, income level, or rate of return.

3. Program Term, Expiration, and Continued Access

• All access described in Section 2 is tied to the Program Term and expires automatically at the end of that two-month period (or of any extension granted under this Section 3). Access does not continue, renew, or convert automatically into any other product.
• If you need more time with the framework, contact us before your access ends. We may, at our sole discretion, extend Training Ground access, and the related Discord community access, by up to one (1) month at no additional charge. Extensions are not guaranteed, are not automatic, do not extend AXIOM access, and do not change the tuition or the final-sale and non-refundable terms of these Terms.
• Continued access after the Program Term ends requires a separate subscription, offered at our discretion only to participants who complete the full Program Term and not available for direct purchase. That continuation subscription is a different product on its own terms, disclosed to you when it is offered; it does not include Discord community access or any other Program benefit unless we expressly say so.
• We do not guarantee that a continuation subscription will be offered, or on what terms, and reserve the right to change its price, features, or availability at any time.
• Phase 2 (optional add-on). Participants who complete the full Program Term may also be offered Phase 2, an optional add-on at a separate one-time price disclosed when it is offered. Phase 2 consists of written documentation and guided walkthroughs on setting up, coding, and testing your own models and on sourcing your own data. It is delivered as documents in a dedicated Discord channel that opens after the Program Term ends (even if Phase 2 is purchased earlier) and remains open for four (4) weeks from the date access to that channel is granted. The documents are provided for your own personal, non-commercial educational use and may not be shared, resold, or redistributed; after the channel closes you may email us to request a copy of the documents. Phase 2 does not include individual coaching, trade review, or personal assistance, is not required to complete the Program, and is not a promise that anything you build will function or be profitable. You are solely responsible for obtaining any market data you use, including its cost, licensing terms, and quality. Phase 2 is a separate purchase and a final sale on the terms of Section 10.

4. Education Only; No Investment Advice, Recommendations, Signals, or Income Guarantees

Praxis is education and training. It teaches a framework and how to read market structure. It does not post trade calls, entries, exits, position sizes, or trade ideas, and it does not tell any participant what to buy or sell. Any level, marker, or annotation shown in the Training Ground, in the AXIOM dashboard, or in Discord is a teaching reference point that illustrates how the framework reads a market. What you do with what you learn is entirely your own decision.

Nothing in the Program is investment advice, trading advice, a solicitation, or a recommendation or signal to buy, sell, hold, enter, exit, or size any security, option, strategy, or other financial position. MNA Research is not registered as an investment adviser or broker-dealer. Content delivered through the Training Ground, the AXIOM dashboard, Discord, or any other part of the Program is general and impersonal and is not tailored to your individual portfolio, financial circumstances, investment objectives, risk tolerance, or trading history. Nothing about your participation creates an advisory, brokerage, fiduciary, or agency relationship with MNA Research.

We do not guarantee any specific trading result, level of profit, or income from participating in the Program. Any results, screenshots, examples, testimonials, or case studies referenced during the Program describe past instances only, are not representative of typical outcomes, and do not predict future performance. Your own results will depend on factors outside our control, including market conditions, your own decisions, execution, capital, and risk management.

Terms such as "wall," "flip," "zone," "target," "level," "expected move," "support," "resistance," "dealer positioning," or similar market-structure terminology used in the Training Ground, the AXIOM dashboard, or Discord describe calculated data or analytical reference points. They do not guarantee that price will reach, hold, reverse at, or react to any displayed value.

Presenting an analytical output as a label, color, status, threshold, alert, directional descriptor, model state, or regime does not make it a recommendation, trade call, or instruction to transact. Praxis is not a brokerage and does not provide brokerage access, custody, order routing, trade execution, portfolio management, or account control. We do not review or comment on your brokerage account, and we do not tell any member what to do with a personal position, including whether to hold, exit, add, or reduce it, or where to enter, set a target or stop, or size it. We can explain what the framework measures and how a condition is defined in the training material.

The same boundaries continue to apply to graduates who are offered continued access.

Personal trading and conflicts. MNA Research personnel may independently trade or hold securities, options, derivatives, or other instruments that are also discussed, illustrated, analyzed, or displayed through Praxis. Personal trading is separate from the Program and is not a recommendation to any member. MNA Research personnel are not required to trade in line with any model output, and you should not assume that any displayed analytical condition reflects an MNA Research personnel position.

5. Risk Disclosure

Trading securities and options involves substantial risk of loss and is not suitable for every person. You can lose the entire amount committed to an options position, and certain strategies can create losses greater than the amount initially invested. 0DTE options involve especially high risk because time decay can be extreme, gamma exposure can change rapidly, liquidity and spreads can change quickly, and there may be little time to respond to adverse price movement.

Before trading standardized options, review the Options Clearing Corporation's "Characteristics and Risks of Standardized Options." You are solely responsible for your trading and investment decisions, order entry, position sizing, risk controls, and compliance with any broker or regulatory requirements applicable to you. Praxis does not manage money, place trades, or provide personalized recommendations on your behalf.

6. Market Data, Calculations, and Service Availability

Certain options-market inputs used in the Training Ground and the AXIOM dashboard are sourced from OPRA options data obtained through a licensed commercial market-data vendor, together with licensed index values where applicable. MNA Research applies its own calculations, transformations, methodologies, and visualizations to these inputs. These derived analytics are independently calculated by MNA Research and are not calculations, recommendations, or endorsements of any upstream exchange, index provider, or market-data vendor.

Market data and calculated outputs may be delayed, stale, incomplete, inaccurate, unavailable, duplicated, frozen, revised, or affected by exchange, vendor, network, software, or methodology issues. The Program, the Training Ground, the AXIOM dashboard, and the Discord community may be unavailable or degraded because of third-party providers, hosting, exchanges, internet connectivity, maintenance, security events, or other causes. Do not rely on the Service as your sole source of market prices, quotes, execution information, or risk management. Independently verify information that is material to a trading decision.

References to "live," "real-time," "current," or similar terms describe the intended operating mode of a feature. They do not guarantee zero latency, uninterrupted connectivity, exchange-level timestamp equivalence, or freedom from delayed, stale, frozen, missing, revised, or erroneous information.

Real-time market-data outputs may also be subject to additional terms, attestations, or user-classification requirements imposed by our data providers or the exchanges. If those apply to you, we will present them before you receive access, and continued access may depend on your accepting them.

7. Accounts, Application, and Access

• Enrollment is for one individual and is non-transferable unless we expressly agree otherwise in writing.
• You are responsible for providing accurate application, account, and contact information and for keeping your login credentials secure.
• You may not share access credentials, access grants, subscriber-only screenshots, data exports, Discord community content, or other Program-only content with another person except as expressly permitted by us.
• We may decline any application, and may delay, condition, or limit acceptance, at our sole discretion.
• You consent to receive notices, receipts, and other communications about your application, enrollment, and these Terms electronically at the email address you provided. Keep that address current.

8. Acceptable Use and Community Conduct

You may not, except to the extent a restriction is prohibited by applicable law: scrape, systematically extract, harvest, mirror, republish, redistribute, resell, sublicense, or commercially exploit the Service or its outputs; use bots, automated scripts, or headless browsers to access the dashboard without written permission; circumvent access controls; share enrollment access; attempt to derive or reconstruct non-public source code, formulas, weighting, methodology, or other proprietary implementation details from the Service; use Program-only data, content, or outputs to train or improve a machine-learning or artificial-intelligence model; use the Service or its outputs to build or operate a competing product; publish proprietary Program materials; or record proprietary training sessions or content without our written authorization.

No recording, capturing, or sharing. All Program content — the Training Ground and its charts and replays, the AXIOM access provided through the Program, live sessions, and Discord content — is for your individual use only. You may not record, screen-record, screenshot, capture, copy, stream, screen-share, publish, post, or otherwise share or distribute any of it, in whole or in part, with anyone, in any form, including on social media, video platforms, messaging groups, or file-sharing sites. Your account is individually identified: the Training Ground displays your member ID and email address as a watermark on charts and pages. You agree to this, and you will not attempt to remove, obscure, crop, or alter it. Any recording, capturing, sharing, or publication of Program content is grounds for immediate removal from the Program and termination of all access, without refund of any portion of the Program fee, and we may pursue any other remedies available to us, including injunctive relief and damages.

Members may discuss the framework, the training material, market structure, historical examples, and analytical concepts. Members may not issue trade calls, tell others what to buy or sell, solicit or offer to copy trades, coordinate trading activity, advertise paid advisory or signal services, post guaranteed-return or profit claims, or promote brokerage or trading schemes. Members may not post brokerage-account, P&L, account-balance, or open-position screenshots, and may not ask for or give individualized advice about entries, exits, targets, stops, sizing, or a personal position.

Discord community access is a privilege, not a right. We may remove any participant from the Discord community, without refund of any portion of the Program fee, for harassment, hate speech, spamming, solicitation of other participants, sharing of access with non-participants, or other conduct that disrupts the community or violates these Terms.

Professional, institutional, advisory, redistributive, or other commercial use of Program content requires our prior written approval.

Member content and testimonials. You keep ownership of what you post in the Discord community. You grant MNA Research a non-exclusive, royalty-free license to host and display it within the Program for as long as it remains posted. We will not publish your name, image, or statements as a testimonial or in marketing without your separate written permission, and any testimonial we do publish will carry any disclosures required by law. Do not post other people's private information or material you do not have the right to share.

9. Intellectual Property and Limited License

As between you and MNA Research, the Service — including its software, dashboards, branding, site content, training materials, playbooks, visualizations, arrangement and presentation of analytics, and proprietary methodology — is owned by or licensed to MNA Research and is protected by applicable intellectual property laws. Third-party market data and third-party trademarks remain the property of their respective owners.

While your enrollment is active, we grant you a limited, revocable, non-exclusive, non-transferable license to access and use the Service for your personal, non-commercial use in accordance with these Terms. No ownership rights are transferred to you.

10. Tuition, Payment, and Refunds

• Enrollment in the Program requires a one-time tuition payment, disclosed to you before you complete enrollment. This is a one-time charge for a fixed two-month Program Term — it is not a recurring subscription, and it does not automatically renew or rebill.
• By completing enrollment, you authorize the disclosed one-time charge to your selected payment method.
• All sales are final. The tuition is non-refundable once payment is processed, regardless of whether you complete, partially use, or do not use the Program, except where a refund is required by applicable law. Contact us promptly if you believe a charge was made in error due to a technical or billing mistake.
• Payments are processed by Stripe, a third-party payment processor. Your payment details are handled by Stripe under its own terms and are not stored by MNA Research.
• If you dispute or reverse a charge that is valid under these Terms, we may suspend or terminate your access and may provide these Terms and your enrollment records to your card issuer or Stripe in response. Please contact us first at [email protected] so we can try to resolve any billing question.
• The separate continuation subscription and the separate Phase 2 add-on described in Section 3, if offered to you, are billed and governed on their own terms, disclosed to you at the time they are offered. Phase 2 is a one-time charge and, like the tuition, is a final sale and non-refundable except where a refund is required by applicable law. The continuation subscription recurs monthly until cancelled, and access ends at the end of the period you have paid for.

11. Suspension and Termination

We may suspend or terminate your access for non-payment, fraud, security risk, credential sharing, unauthorized redistribution, infringement, abusive or disruptive conduct (including in the Discord community), or a material violation of these Terms. Where reasonably practicable, we may provide notice and an opportunity to cure, but we may act immediately where necessary to protect the Service, other participants, or third parties. Termination for cause under this section does not entitle you to a refund of any portion of the Program fee already paid, and does not eliminate obligations that by their nature should survive, including intellectual-property restrictions, accrued payment obligations, warranty disclaimers, and liability limitations.

12. Third-Party Services

The Service may depend on or interoperate with third parties such as Stripe, Discord, market-data vendors, exchanges, hosting providers, and email providers. Unless expressly stated otherwise, those third parties do not sponsor, endorse, or control MNA Research, and MNA Research does not control their availability, policies, or services. Your use of a third-party service, including Discord, is also subject to that provider's own terms and privacy practices.

13. Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE." MNA RESEARCH DISCLAIMS WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, ACCURACY, TIMELINESS, AVAILABILITY, AND RESULTS, INCLUDING ANY TRADING OR FINANCIAL RESULT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT ANY DATA OR CALCULATION WILL BE ACCURATE OR CURRENT, OR THAT ANY LEVEL, ANALYTIC, OR TAUGHT METHODOLOGY WILL CORRESPOND WITH FUTURE MARKET BEHAVIOR OR PRODUCE ANY PARTICULAR RESULT FOR YOU.

14. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, MNA RESEARCH AND ITS OWNERS, OFFICERS, EMPLOYEES, AGENTS, AND CONTRACTORS WILL NOT BE LIABLE FOR TRADING LOSSES, LOST PROFITS, LOST OPPORTUNITIES, LOSS OR CORRUPTION OF DATA, OR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES ARISING FROM OR RELATING TO THE SERVICE, EVEN IF ADVISED THAT SUCH DAMAGES ARE POSSIBLE.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, OUR AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE SERVICE OR THESE TERMS WILL NOT EXCEED THE AMOUNT YOU PAID TO MNA RESEARCH FOR THE PROGRAM. THESE LIMITATIONS DO NOT APPLY TO LIABILITY THAT CANNOT LAWFULLY BE EXCLUDED OR LIMITED.

15. Indemnification

To the extent permitted by law, you agree to defend, indemnify, and hold harmless MNA Research and its owners, officers, employees, and agents from third-party claims, damages, and reasonable costs arising from your unauthorized redistribution or commercial exploitation of the Service, your violation of another person's rights, your trading or investment decisions, or your material violation of these Terms or applicable law.

16. Changes to the Program or Terms

We may modify the Program's content, format, or features, and may update these Terms from time to time. If a change to these Terms is material, we will provide notice in a manner reasonably calculated to reach affected participants and any additional notice required by law. Changes apply prospectively from their stated effective date.

17. Governing Law, Venue, and Injunctive Relief

These Terms are governed by the laws of the State of Florida, without regard to its conflict-of-law principles. Subject to any non-waivable rights you may have under applicable law, any dispute, claim, or controversy arising out of or relating to these Terms, Praxis, or the Service shall be brought exclusively in the state courts located in Broward County, Florida, or, where federal subject-matter jurisdiction exists, in the appropriate federal court serving Broward County, Florida. You irrevocably consent to the personal jurisdiction and venue of those courts and waive any objection based on inconvenient forum or improper venue, except to the extent such waiver is prohibited by applicable law.

Nothing in this Section prevents MNA Research from seeking temporary, preliminary, or permanent injunctive or equitable relief in any court of competent jurisdiction to protect its intellectual property, confidential information, data rights, access controls, or against unauthorized scraping, redistribution, or misuse of the Service.

18. WAIVER OF JURY TRIAL

To the maximum extent permitted by applicable law, EACH PARTY WAIVES ANY RIGHT TO A TRIAL BY JURY in any action, proceeding, or counterclaim arising out of or relating to these Terms, Praxis, or the Service.

19. Severability; No Waiver; Entire Agreement

If any provision of these Terms is held unenforceable, the remaining provisions remain in effect to the fullest extent permitted by law. A failure to enforce a provision is not a waiver of that provision. These Terms, together with the Privacy Policy and any enrollment terms expressly presented to you, constitute the agreement governing your application, enrollment, and use of the Service.

20. Contact

Questions about these Terms: [email protected]