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Now that you’ve successfully passed your Bulenox challenge and met the objectives on the qualification account, the next step is to set up your funded account, known as the Bulenox Master Account. Trading Funder notes that this account has slightly different rules compared to the qualification account. Before delving into all the specific rules, let’s first focus on setting up your Master Account.
How to Set up the Bulenox Master Account?
To set up the Bulenox Master Account, the trader must first ensure that he achieves the profit target on the selected account size and traded for a minimum of 10 days. The next step is for the trader to send a ticket to customer support via his Bulenox account on the website and provide the following information:
- Full Name
- Rithmic User ID
- The account numbers if the trader is operating multiple accounts
The trader then must wait for verification to be carried out, as it can take as much as 48 hours. Once the information is provided and the account verified, Bulenox will send an email to the trader containing a certificate, a questionnaire, a contract, and the necessary instructions.
Once the trader completes the application form and signs the contract, the next step is to send it back to customer support, and once they receive these documents, the Master Account will be made accessible. Finally, the company will email the trader to let him know that the Master Account is open, and the trader can begin to earn and receive payments based on the results delivered.
At this point, the trader will not have to pay for a subscription to a Qualification Account since the trader has completed the challenge. Therefore, the administrator will cancel the subscription to the Qualification Account directly.
Is there a fee to pay for a Master Account?
For the Master Account with Options 1 and 2, no monthly cost is involved, but a one-time activation fee covers a data feed and maintenance fee. The size of the selected account determines the amount of the activation fee, as shown in the list below:
- $10,000 Account – $98
- $25,000 Account – $143
- $50,000 Account – $148
- $100,000 Account – $248
- $150,000 Account – $498
- $250,000 Account – $898
Funded Account Rules – Master Account
The rules for the Master Account are practically the same as that of the Qualification Account, with the only difference being that there is no option to reset the account. Once the trader breaks a rule worthy of account closure, he will lose his Master Account. In the Master Account, the trailing or EOD drawdown stops moving when the trailing or EOD drawdown gets to the initial account balance. The list below shows the trailing drawdown amount for each account size.
Trailing and EOD Drawdown Amount (TDA):
- $10,000 – TDA of $1,000
- $25,000 – TDA of $1,500
- $50,000 – TDA of $2,500
- $100,000 – TDA of $3,000
- $150,000 – TDA of $4,500
- $250,000 – TDA of $5,500
If the trader should exceed the maximum trailing drawdown on his Master Account, the administrator will close down such an account automatically.
Here are some of the general rules that apply to the Master Account:
Trading Period
There is a specific period for trading for each trading day, and at Bulenox, the trading day begins at 5:00 PM and ends at 4:00 PM the next day, Central Standard Time (CST). A trading day does not apply on weekends and holidays. All positions must be closed thirty minutes before the end of each trading day by 3:30 PM (CST).
Trailing drawdown
Traders must keep their accounts from getting to the maximum drawdown indicated by Bulenox.
Type of contract
Traders are allowed to use both standard and micro contracts for trading simultaneously. One standard contract is equal to 10 micro contracts.
Maximum position size
The chosen account size determines the Maximum position size, and traders can hold multiple positions simultaneously.
Trading instruments
Since Bulenox focuses on the futures market, the available financial instruments are in this market. Therefore, these specific instruments are the only ones that should be traded, and trading outside these financial instruments on the Master Account will lead to account termination. For a comprehensive list of the futures instruments that Bulenox allows for trading, kindly follow this link: The List of Futures Instruments.
Once traders are qualified for the Master Account, they will have to choose between Options 1 and 2, with each Option having specific rules.
Option 1
Option 1 is known as the No Scaling Account and focuses exclusively on the trailing drawdown. Below are the essential points to note about Option 1:
- The trailing drawdown is directly attached to the current balance, equal to the trader’s profit.
- The drawdown is measured in real-time over the trading day with the addition of a commission.
- If a trader violates the allowable drawdown, the administrator will have no choice but to close down the trader’s Master Account, and the trader will have to start again from the beginning.
Let us look at the example below to gain a better understanding.
Suppose a trader operates the $100,000 account with 12 contracts and a maximum trailing drawdown of $3,000. This indicates that $3,000 is the maximum loss the trader can incur from the highest profit point at any particular time, including open positions. Therefore, if the account balance should ever drop to $97,000, the trader will lose this Master Account.
If the trader begins trading and makes a profit of $800 on the first trade, the new drawdown is $97,800 ($100,800 – $3,000). If the trader continues to trade and then loses $300 from the profit made earlier, after which the trade is closed, the account balance falls from $100,800 to $100,500. However, the maximum drawdown will not change from $97,800 as the maximum drawdown will only move $3,000 from the highest account balance.
Option 2
Option 2 is known as the EOD Drawdown Account, and it features End of the day Drawdown, a Scaling Plan, and a Daily Loss Limit.
End of the day Drawdown (EOD)
EOD is updated once a trading day ends, which is why it only considers the profit made once a trading day ends. Thus, it is updated when a trader’s account attains a new high value at the end of the trading day. The EOD moves in accordance with the trader’s account balance, which is equal to the profit. The example below clarifies this.
This example will go with the $100,000 account, just like in the example for Option 1. This means the maximum trailing drawdown is $3,000, and the account balance must not drop to $97,000; the EOD follows a similar principle. This example will evaluate the trader’s trading activities across three trading days.
First trading day
The trader makes a couple of winning and losing trades. By the time the trading day ends, the account balance stops at $101,000. EOD balance is thus adjusted to $98,000.
Second trading day
The account balance by the time the trading day ends is $100,500, which is a drop from the previous day’s. However, the EOD balance will remain unchanged at $98,000.
Third trading day
When the third trading day closes, the account balance shoots up to $102,000, which means there will be a new EOD balance of $99,000.
You should note that once the EOD reaches the initial account balance, the EOD will stop moving.
EOD Dynamic Scaling Plan
This concerns a trader’s buying power concerning EOD Scaling and is dependent on the value of the cash on hand. Increasing or decreasing account profits will determine if the trader will have more or fewer contracts available for trading. Below is the dynamic scaling plan for each account size.
$10K EOD Account Scaling
- No scaling (5 Micro-contracts Max)
$25K EOD Account Scaling
- $0 – $1,500 (2 Contracts Max)
- $1,501 + (3 Contracts Max)
$50K EOD Account Scaling
- $0 – $1,500 (2 Contracts Max)
- $1,501 – $4,000 (4 Contracts Max)
- $4,001 + (7 Contracts Max)
$100K EOD Account Scaling
- $0 – $2,000 (3 Contracts Max)
- $2,001 – $3,000 (5 Contracts Max)
- $3,001 – $5,000 (8 Contracts Max)
- $5,001 + (12 Contracts Max)
$150K EOD Account Scaling
- $0 – $4,000 (5 Contracts Max)
- $4,001 – $8,000 (8 Contracts Max)
- $8,001 – $12,000 (10 Contracts Max)
- $12,001 + (15 Contracts Max)
$250K EOD Account Scaling
- $0 – $5,000 (6 Contracts Max)
- $5,001 – $12,000 (12 Contracts Max)
- $12,001 – $20,000 (18 Contracts Max)
- $20,001 + (25 Contracts Max)
Daily Loss Limit
The daily loss limit represents a trader’s maximum loss per trading day. It’s based on the trader’s profit and loss, accounting for commissions and real-time/unrealized trades. The daily loss limit can be monitored in the Rtrader platform. Below are the daily loss limit values for all account sizes:
- $10K account – $400
- $25K account – $500
- $50K account – $1100
- $100K account – $2200
- $150K account – $3300
- $250K account – $4500
Like the EOD, the Daily Loss Limit will no longer be active once the maximum threshold gets to the initial account balance.
Conclusion on Bulenox Master Account
After successfully passing the Bulenox challenge, setting up the Master Account is a straightforward process that requires submitting key information to customer support and following their verification steps. While the rules for the Master Account closely resemble those of the Qualification Account, it’s crucial to understand that there’s no reset option once you’re funded. Managing your trailing drawdown and adhering to trading periods is essential to avoid losing the account. At Trading Funder, we advise traders to carefully review the setup and trading rules before proceeding, ensuring they choose the right option between No Scaling and EOD Drawdown, depending on their strategy.
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