SpaceX Prop EA – An In-Depth Review
The SpaceX Prop EA is an expert advisor available on the mql5.com marketplace designed to pass prop firm challenges. In this comprehensive review, we will analyze the key features, performance statistics, pros and cons, and suitability for different types of traders.
Overview and Key Features
The SpaceX Prop EA is marketed as a tool to specifically help traders pass evaluation stages at prop firms. Prop firms provide funding to traders in return for a profit split, but traders must first pass strict evaluation stages to prove the profitability and risk management of their trading strategies.
Some of the key features highlighted by the developer include:
- Designed for prop firm challenges after passing multiple firms
- Uses a breakout strategy after consolidation periods
- Includes averaging martingale or single position modes
- Flexible settings for breakout length, range, and buffer
Looking at the backtest results and other information available, here are some additional notable features:
- Runs on the MetaTrader 5 platform
- Backtest period of 5 years and 5 months
- Average ~16% monthly return over backtest period
- Drawdown of 35%
- Positive profit factor of 1.7
So in summary, the SpaceX Prop EA offers a straightforward breakout trend following system with risk management options to help traders pass prop firm evaluations.
Backtest Results Analysis
Analyzing the available backtest reports and account statements provides further insight into the performance and risk metrics of the SpaceX Prop EA.
Key backtest results over the 5+ year period include:
- Total net profit of $596K – Strong absolute returns, will be dependent on account size
- 16% average monthly return – Impressive returns if consistent in live trading
- 35% max drawdown – Within typical expectations for a trend system
- 1.7 profit factor – Indicates good risk reward profile overall
- 59% win rate – Reasonable win rate for breakout trend system
The monthly returns show consistency in profitability, with only 2 losing months over the 67 months backtested. There can often be significant variance between backtest and live results, but the backtest report suggests solid baseline performance.
Monthly returns over backtest period:
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 | 34.59% | 12.24% | 9.47% | 15.53% | 27.84% | 5.04% | 139.94% | ||||||
| 2019 | 15.67% | 12.69% | 17.02% | 19.29% | 12.73% | 18.43% | 16.32% | 13.01% | 2.36% | 7.83% | 9.74% | 5.29% | 170.60% |
| 2020 | 11.24% | 13.01% | -4.35% | 23.49% | 10.59% | 21.34% | 22.36% | 14.90% | -1.46% | 16.32% | 22.47% | 11.29% | 203.27% |
| 2021 | 8.38% | 15.01% | 14.59% | 8.93% | 4.59% | -0.73% | 15.84% | 12.64% | 2.84% | 8.56% | 13.29% | 5.83% | 131.32% |
| 2022 | 9.28% | 10.83% | 17.36% | 13.19% | 9.64% | 4.92% | 19.27% | 22.19% | 8.73% | 15.28% | 18.36% | 12.47% | 188.83% |
| 2023 | 23.81% | 23.81% |
The equity curve shows steady upward progression with no extreme crashes over the 5+ year period. The 35% drawdown is visible as well in late 2022.
SpaceX Prop EA Backtest Equity Curve
Overall the backtest results indicate this EA could be suitable for prop firm challenges, with strong and steady returns, reasonable drawdown, and positive risk metrics. As with any EA, live trading results may differ, but these metrics set a strong baseline benchmark.
SpaceX Prop EA Pros and Cons
Based on the available information and backtest data, here is a summary of the key pros for the SpaceX Prop EA:
- Profitability – 5+ years of strong returns in backtest
- Drawdown – Maximum 35% drawdown is reasonable
- Risk Metrics – Positive profit factor and win rate
- Customization – Flexible settings for breakout strategy
- Automation – Fully automated system once configured
And some potential cons to keep in mind:
- One Strategy – Relies solely on breakout trend following
- Scalability – High returns dependent on large account size
- Unknown Broker Testing – Unclear what brokers were used in backtest
- Live Trading Unproven – No live account track record available
So in summary, the positives highlight the potential profitability and automation of the system, while the negatives focus on the uncertainty until live trading results are proven.
Suitability for Traders
The SpaceX Prop EA is clearly marketed at traders specifically looking to pass prop firm evaluation stages. The rules and restrictions imposed by prop firms could include:
- Trading specific forex pairs or indexes only
- Mandatory stop loss and risk per trade limits
- Daily or monthly loss limits before failure
- Profit targets to achieve over set time periods
This EA with its breakout trend strategy, customizable settings, risk management options, and stop losses seems a good potential fit for these types of trading requirements.
Outside of prop firm trading, this EA may appeal to traders looking for solid long term returns from an automated breakout trend following system. However, very short term traders or scalpers would likely not find this EA suitable for their strategies.
Overall the backtest results and availability of risk controls provide a degree of confidence for traders considering using this EA aligned to their strategy, time frame, and risk tolerance. But as always, exercising caution until live account trading verifies performance is advised.
SpaceX Prop EA Pricing and Conclusion
The SpaceX Prop EA is available for purchase through the mql5.com marketplace at a one-time price of $99. This seems reasonable given the capability and complexity of systems required to automate trading strategies.
In conclusion, the key highlights of this SpaceX Prop EA review include:
- Designed specifically for prop firm evaluation stages
- Backtest over 5 years shows strong and steady returns
- Maximum 35% drawdown over backtest period
- Profit factor of 1.7 indicates good risk management
- Provides customizable breakout trend strategy
- Flexible averaging martingale or single position modes
- Priced reasonably at $99 through mql5.com marketplace
Considering the profitability, flexibility, and focus on prop firm requirements seen in backtesting, the SpaceX Prop EA seems a solid option for traders looking to pass prop firm evaluations or utilize an automated breakout trend following strategy.
As with any EA purchase, performing additional due diligence is always advisable, in particular seeing live account statements showing consistent returns across different market conditions. But the available backtest results and metrics provide a degree of confidence in the potential capability of this EA.
