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.
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
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
Download our advanced Forex Kingle Scalper Robot
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.
