BULENOX New Rules: What You Absolutely Must Know

Summary

In this video, the speaker discusses recent rule changes by the prop firm BUOX, such as restrictions on copy trading, limited flipping days, and mandatory consistent position sizing. While some of these rules aim for sustainability, the speaker expresses frustration with them, arguing that firms should primarily care about payment and adherence to basic rules. They highlight that no firm is perfect, and traders should choose a firm that aligns with their trading style. The key takeaway: focus on consistency and profitability, and choose a firm whose rules work for you.

Takeaways

• 😀 BUOX, a prop firm, has recently changed some of its trading rules, which has raised concerns among traders.
• 😀 The main rule change prohibits copy trading across different accounts on multiple firms, which might affect traders using external copy trading systems.
• 😀 The rule change related to flipping limits traders to only 2 days of flipping within a 10-day period to avoid penalty, which may limit quick-profit strategies.
• 😀 BUOX now requires consistent position sizing across trades, which may hinder traders who adjust position size based on risk per trade.
• 😀 There is a new account inactivity rule that forces traders to trade at least once every 5-10 days, which could be problematic for those with less frequent trading schedules.
• 😀 The video presenter highlights that BUOX has generally positive reviews, with 89% of reviews being 5-star on Trustpilot.
• 😀 Despite the rule changes, the presenter suggests that every prop firm will have rules that some traders won't like, and it's important to find a firm that suits your trading style.
• 😀 The presenter criticizes the copy trading rule, arguing that a firm should only care about a trader paying for accounts and following internal trading rules, not which other firms they trade with.
• 😀 The new flipping rule at BUOX is seen as restrictive, especially for traders who prefer to flip more than 2 days to reach payout targets.
• 😀 The presenter recommends traders focus on consistency and profitability, particularly if they’re not yet profitable, rather than worrying too much about firm rules.

Q & A

What is BUOX's new rule regarding copy trading?

BUOX now prohibits copy trading across different firms. Traders are not allowed to use external copy traders that allow them to trade multiple accounts simultaneously across different prop firms.

How does BUOX enforce the rule against copy trading?

It’s unclear how BUOX tracks or enforces the rule against copy trading, but given advancements in technology, they may have ways of detecting this practice, though the exact method is not specified.

What is the new limit on flipping trades at BUOX?

BUOX limits traders to flipping only 2 days out of a 10-day trading period. Flipping more than 2 days will result in a rule violation and could lead to penalties or payout denial.

How does BUOX’s position sizing rule work?

BUOX requires traders to maintain consistent position sizing. This means that traders must stick to specific position sizes for each trade, which may not work well for those who vary their position size based on risk tolerance.

What is BUOX’s inactivity rule?

Traders at BUOX must trade at least once every 5 to 10 days to avoid penalties. If a trader goes beyond this period without placing a trade, it could result in a breach of the firm's rules.

How does the inactivity rule affect traders who don’t trade frequently?

The inactivity rule can be problematic for traders who might go days or even weeks without placing a trade, such as those who prefer to wait for optimal market conditions. The rule forces them to trade even when there are no good setups.

What are BUOX's overall customer reviews like?

BUOX has generally positive reviews, with a 4.6-star rating on TrustPilot. About 89% of reviews are five stars, indicating strong satisfaction among traders, though there are some minor complaints.

What’s the significance of a firm having 'live traders'?

A firm with 'live traders' suggests that it has a clear and feasible path for traders to go live, meaning they can trade with real capital after meeting the necessary requirements. This is seen as a good sign of the firm's legitimacy and credibility.

What should traders focus on if they are not yet profitable?

Traders who are not yet profitable should prioritize improving their trading consistency rather than focusing on making payouts. Consistency in trading is key to becoming profitable in the long run.

What advice is given for choosing a prop trading firm?

Traders should select a firm that aligns with their trading style and preferences, particularly in terms of the firm's rules. It’s important to understand the rules thoroughly before committing and to use the firm as a trading tool, not an emotional decision.