Passing Auditions moves traders in to the Show which gives users the chance to fund their Live accounts. There is only a one-time fee to gain access with no future fees to Nexgen. In a Show account, the Daily Soft Stop and Static Minimum are replace with an EOP trailing. There are a minimum of 2 trading days to reach the profit target and start receiving funded payouts. The profit target in SHOW is the same as Audition. This minimum trading day rule does not apply to future payouts.
There is no requirement for consistency and will not effect achieving payouts. However, users are encouraged to aim for consistency between 30-50% to achieve optimal funding. Once again, accounts that do not achieve a consistency are still eligible for funding and payouts however our risk management towards a trader will be different based upon the traders behaviour in the evaluation stage.
Oct 14, 2024: Accounts are also required to have a certain level of activity. If an account is inactive for more than 14 days, NexGen has the right to pause or close the account. Please reachout to NexGen if you plan to have an extended period of inactivity.
Overnight positions are not allowed. Please have all trades closed out by 4:15p EST. If a trade is left open, that account will be subject to closure.
Steps to Achieving Live:
Goal: Demonstrate trading consistency while achieving profits to receive payouts on a regular basis. Live accounts are funded in this stage with traders reaching the profit target. After reaching the profit target, NexGen will contact you for next steps at this stage which include: KYC, brokerage setup, and trader consultation.
Trading Environment: Continue trading with near-live simulated market data until profit target is reached and moved into live markets. Account maximum loss limit is an EOP trailing. Do not let account balances fall below this amount. This can be monitored on Rithmic or your trading platform in real time.
Order can be placed by administrators only, now what? Admin status indicates a breach of the minimum account balance or stop limit. Accounts will no longer be available for trading and will be closed.
