Rocket Tryout Account
Price $359/month | $120,000 Margin Buying Power
The Rocket Tryout offers you the chance to prove your trading ability for a monthly subscription price of $359 per month. Hit your target by following the rules within the risk framework of the Rocket Tryout and get allocated a live backed professional futures trading account with the same parameters.
The Rocket Tryout gives you intra-day buying power of US$120,000 to be used against the initial margin requirements set by the exchanges. Our trading platform, ‘Trader Talent Pro’ operates on a buying power model rather than a fixed lot allocation basis, which means you can trade as many lots of the products available in your Tryout as you like, so long as your account has the margin funds to cover them.
You are in Control
During your Tryout you will be in control. This means that you the customer, will be fully responsible for controlling your risk when it comes to margin use. If you exceed your available margin this will constitute a rule break, your trades will be auto-liquidated and you will no longer be under assessment for the live account. This benefits both you and Trader Talent as it teaches you to take responsibility for managing your risk exposure while proving to our risk assessment team that you are responsible and trustworthy enough to trade with our partners’ money. If you do break this rule you will need to purchase a reset in order to resume the Tryout afresh and be assessed for live backing once more.
There is no time limit to complete any of the Tryouts, you simply need to trade actively for a minimum of any 14 trading days period and achieve the prescribed targets and remain within the rules.
The chart above shows an example of a trader on the Rocket tryout, aiming for that cumulative net profit target of $7,200, avoiding being down more than $2,400 on any one day and not losing more than $3,600 in any one calendar week.
Any profit made over $2,400 on any single day on the Rocket Tryout will be discounted from your overall balance by Trader Talent and will not count towards your overall target, this helps prove to us and our partners that your day trading profitability is genuinely consistent by eliminating any ‘elephant winners’.
There is no time limit to achieve your target, take as long as you need. Your subscription will renew each month as you progress.
Should you break a rule during the tryout you may:
- On the first occasion only, pay to reset before the end of the trading session in which you broke the rule and keep any positive balance at the time.
- For subsequent rule breaks, or if your account was negative on the first break, you may pay to reset the account at any time or date you wish, which will reset it to the origin starting balance of the Tryout.
If you choose not to reset the account you may still trade the rolling past 5 days of data using the Trader Talent Pro market replay feature to practice.
Note that the Tryout account never resets automatically at subscription renewal. Resets are separate to and in addition to the subscription fee.
Think you have what it takes?
Live Backed Accounts
Once you complete the Rocket Account Tryout successfully you will be able to complete the live account on boarding process with a partner trading firm. The differences to the live backed account compared to the Tryout are as follows:
- Your margin exposure will be controlled by the risk software so if you attempt to place an order which exceeds it you will prevented from putting it on.
- You pay no monthly subscription but will now pay ‘professional’ exchange data fees as opposed to discounted ‘retail’ fees offered by some exchanges in the Tryout. These pro rates are required by exchanges when you are trading third party funds. These are billed to you in the same way as the Tryout by card payment in TraderTalentPro each calendar month. They can not be pro-rated as they are pass through costs.
- Market moves affecting your PnL which result in exceeding your margin exposure limit will result in liquidated positions and the need to return to the Tryouts.
- The weekly loss limit rule is removed and replaced by a trailing stop as shown by the orange line in the chart below (daily loss limits still apply the same as in the Tryout). This begins tracking $4,500 beneath the opening balance of the Rocket account and rises upwards with your profitability until is reaches your account starting balance where it remains.
- You may not trade or have positions 2 minutes each side of major economic releases or events as listed here, no trades between 3.10pm to 5pm CT nor in the 15 minutes approaching session close of other products.
- Our backing partners impose caps on the the number of contracts (position size) you can trade in products where slippage would likely exceed your stop settings.
- Overnight positions are not permitted.
- Breaking any of the rules carried over from the Tryout or newly prescribed here will forfeit the live backed account with the option to return to the Tryout stages.
- On Rocket you keep 100% of the first $8,000 of your net profits and 75% thereafter. Read more about partner trading firms’ profit withdrawals.