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AUDITION Rules

The Do’s
  • Profit Goal: Achieve the target profit set for your specific plan.
  • Minimum Trading Days: Trade for at least 5 days while working towards your target profit.
  • Strategy and Consistency: Focus on refining your trade strategy. Aim for consistency, which means showing good risk reward behavior and trading discipline. Reach your profit target without hitting the trailing threshold. The number of contracts you can trade is automatically limited based on your plan size. Overall, NexGen will focus on your performance statistics which will impact your risk limits in the live stage. 
The Don’ts
  • Trailing Threshold: Avoid letting your account balance fall below the trailing threshold. If this happens, your plan will enter “ADMIN” status, preventing further trading. All positions under that plan will be automatically liquidated.
  • Overnight positions are not allowed. Please have all trades closed out by 4:45p EST. If a trade is left open, that account will be subject to closure. 
What is a Daily Soft Stop?
  • Purpose: This is a safety measure that temporarily blocks trading on your plan until the next business day, allowing you to resume trading at the next futures market open (6 pm EST). Unlike other firms that may close your account after a daily stop, Nexgen’s approach is to give you another chance to trade.

Disclaimer Regarding Use of Daily Soft Stop in Fast Market Conditions

  • Please be advised that while Nexgen Futures Trader provides a “Soft Stop” feature as a risk management tool, there is no guarantee that it will prevent additional slippage in fast-moving market conditions or low liquidity markets. The Soft Stop is designed for use under normal market conditions and may not function as intended during periods of high volatility or rapid market movements. Additionally, the feature serves as a mechanism for a cooling-off period, particularly useful when a trader experiences a series of unfavorable trades. It encourages taking a break, thereby providing an opportunity for traders to return the next day with a fresh perspective, helping to prevent them from making hasty decisions that could lead to significant losses.
  • Nexgen Futures Trader expressly disclaims any responsibility for slippage that may occur, regardless of whether the Soft Stop feature was engaged. Traders should be aware of this limitation and manage their trading activities and risk exposure accordingly, understanding that they use the Soft Stop feature at their own risk.
How many plans can a Trader have?
  • AUDITION Plans: You can have unlimited AUDITION plans active simultaneously.
  • SHOW Plans: You are limited to passing a total of ten SHOW plans, which can be a mix of different account sizes but must not exceed ten in total. 
Order can be placed by administrators only, now what?
  • What It Means: If your account is in Admin status, it indicates you’ve breached the minimum account balance.
  • Next Steps: Don’t lose heart; it’s a common occurrence. You can either wait for the account to reset at the next billing cycle or open a new account to start afresh immediately.
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