A new experiment is described to detect a permanent electric dipole moment of the proton with a sensitivity of $10^{-29}ecdot$cm by using polarized magic momentum $0.7$~GeV/c protons in an all-electric storage ring. Systematic errors relevant to the
experiment are discussed and techniques to address them are presented. The measurement is sensitive to new physics beyond the Standard Model at the scale of 3000~TeV.
