Overview of PropSMC Pro EA

The PropSMC Pro EA is an automated trading system designed specifically for prop firm trading. It was developed by the team at PropSMC, who have extensive experience building algorithms for funded trading accounts. In this detailed review, I will provide an overview of the PropSMC Pro EA, analyze its features and performance results, and determine if it is a recommended algorithmic trading solution for aspiring prop traders. The PropSMC Pro EA is optimized for scalping strategies on the 1-minute timeframe. It aims to capture small, frequent profits from short-term market movements. PropSMC Pro EA The developers optimized the EA’s logic and parameters to meet the trading requirements and rules of leading prop firms like FTMO, MyForexFunds, TopstepTrader, and others. This ensures the algorithm can pass prop firm evaluations and be approved for funded accounts. Some key features of the PropSMC Pro EA include:

  • Advanced price action analysis using a proprietary indicator
  • Adaptive stop loss and take profit levels
  • Built-in position sizing and risk management
  • Stealth mode to hide stop levels from brokers
  • Compatible with ECN/STP brokers and FIFO rules
  • Runs on the MetaTrader 4 and MetaTrader 5 platforms

The EA trades the following currency pairs: EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, USDCAD. It uses a default setting of 1-minute timeframe on those pairs.

Performance Results of PropSMC Pro EA

According to the vendor’s website, the PropSMC Pro EA has produced consistent profits during 9 months of public forward testing. From September 2022 to May 2023, the EA reportedly generated around $50,000 in net profits on a $10,000 account. This equates to a 500% return over 9 months or approximately 55% per month on average. The largest drawdown during this period was around 15%, demonstrating solid risk management. The win rate averaged 65% with a risk:reward ratio of 1:1.5, indicating a profitable algorithm despite taking frequent small losses. These strong backtested and forward tested results instill confidence that the PropSMC Pro EA can deliver profits in live trading. However, past performance does not guarantee future results. Below are some of the key metrics reported for the PropSMC Pro EA during live forward testing:

  • Net Profit: $50,000+
  • Period: 9 Months (Sep 2022 – May 2023)
  • Account Size: $10,000
  • Return: 500%
  • Drawdown: 15%
  • Win Rate: 65%
  • Risk:Reward: 1:1.5

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Features and Customization

The PropSMC Pro EA has several advanced features to boost performance and allow customization for user’s preferences. Stealth Mode This hides stop loss and take profit levels from the broker to prevent hunting by liquidity providers. The EA sends stop orders directly to the market instead of the broker. Auto Lot Sizing The EA can automatically calculate optimal trade sizes based on account balance and risk parameters. This ensures proper position sizing and risk management. Time Filters Users can set specific time zones or sessions for the EA to trade or stop trading. This allows optimizing operations for certain market conditions. Pending Orders The algorithm can place pending buy stop and sell stop orders to get into trends early. Users can enable or disable this feature. News Filter Significant news events can be avoided by enabling the news filter option, preventing trading during high-impact events. Multiple Timeframes While the default is 1-minute, the EA can also run on 5-minute or 15-minute charts for less frequent trading. These features provide traders with flexibility to customize the PropSMC Pro EA to best fit their trading plan, account size, risk tolerance, and style preferences.

What Are the Similarities Between Golden Owl EA and PropSMC Pro EA?

Unlocking the secrets of golden owl, one can observe similarities between the Golden Owl EA and PropSMC Pro EA. Both expert advisors strive to optimize trading strategies, relying on advanced algorithms and technical indicators. Through automated trading, these EAs aim to enhance profitability and reduce manual intervention. While each EA possesses its unique features, it is clear that the pursuit of success in the forex market unites them.

Buying and Support

The PropSMC Pro EA is sold through the PropSMC website for a one-time fee of $379. The purchase includes a 6-month license and free updates during that period. The vendor provides responsive customer support via email and Discord. They have a track record of quickly resolving any issues and releasing constant performance improvements for the EA. The PropSMC Pro EA comes with a 14-day money back guarantee. So traders unsatisfied with the product can request a full refund within the first two weeks after purchase.

Verdict on the PropSMC Pro EA

Overall, the PropSMC Pro EA shows promising results for prop firm trading based on extensive backtesting and months of public forward testing. The features allow optimizing the EA for funded account rules and trader preferences. For traders seeking an automated solution tailored specifically to meet prop trading requirements, the PropSMC Pro EA is a top contender to consider. The reasonable one-time price, refund policy, and responsive support also make it a lower risk investment. However, as with any EA, traders should exercise caution and use proper risk management. Forward testing your own accounts is advised before relying on the PropSMC Pro EA for live funded trading. But for prop traders wanting to automate their scalping strategies, the PropSMC Pro EA provides an effective platform developed expressly for prop firm trading success.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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