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Congratulations!!! to Tijani M. Ahmed for coming in 2nd place using the Steinitz HAS MTF Hedge v3.23 robot. The prize money for second place was $2000.

Here is the e-mail that he sent me tonight unedited:

----- Original Message -----
From: Tije ahmed
To: Don Steinitz
Sent: Saturday, July 18, 2009 9:16 PM
Subject: Re: Requesting robot to be hard coded with live account number to trade live: Tijani M Ahmed

Kindly i need assistant, my robot can not download after i formated my cumputer.My live account is #624XX . i need you to coded my account. below is the copy of the order and the email i used is director@xxxxx.com
I am very happy to inform you that your robot made my Demo account became second prize on Fxdd promo last month. Thank you.

Forex Champions League

The results for the Forex Champions League contest are in! To see the list of winners and who took home the grand prize visit the leaderboard below.

FXDD would like to congratulate all of the winners. We hope that you enjoyed participating in the Forex Champions League and thank you for choosing to trade Forex with FXDD.

To view the results of the championship click the link below:
http://www.fxdd.com/en/forex-contest.html

To purchase the software that he used in the contest just click the link below:
http://www.forexrobottrader.com/steinitz_has_mtf_hedge_robot.php

         NFA
    "New Rules"

    Hedging

The NFA ruling against hedging has no effect on our robots because that particular feature is turned off by default. We included a hedging feature years ago in the robot but decided to leave it turned off unless the user wanted to experiment by turning it on. All of our statements on our website are the result of using our robot without the hedging feature turned on.

So to summarize none of our statements on our website was the result of using any hedging techniques. Therefore this NFA ruling is completely irrelevant.

    FIFO

The NFA ruling against hedging FIFO has no effect on our robots because our software does not place more than one trade or individual ticket against the same currency. Only one trade at a time is allowed by our robots. Only until that trade is closed out by either the robot or yourself manually will the robot initiate a new trade or ticket.

So to summarize the FIFO ruling has no effect on our robots and is totally irrelevant.
It should be noted that all the above NFA ruling restrictions can be avoided by opening an account with any United Kingdom Forex Broker as they are exempt from any of the above NFA rulings and allow hedging with no FIFO restrictions.

2008 Automated Trading Championship
RESULTS

As you may know there is the annual Automated Trading Championship that runs every year showcasing up-and-coming robots for the elusive first, second and third prize. Last year in 2008 one of our customers entered the Steinitz Has MTF Hedge robot version 3.23 into the contest without me knowing.

I found out after I received an e-mail that this customer wanted his robot to be hard coded with his live account number and told me the results of the robot. Needless to say I was surprised when I heard of this news.

There was a total of 705 participants. Joe Dexter from Indonesia participant number 600480 entered my robot using GBP/JPY on the 15 minute chart. He traded only 1% of the starting balance of $10,000. The robot came in 98th place making $1403.22 net profit representing a 14% ROI in two months. The robot came in 3rd place for best (PF) profit factor.

The robot never lost a trade except on 4 occasions closing a small loss due to a small take profit target and negative swap (interest). Anything over a 2.0 profit factor is considered great for a robot. Our robot had a 17.67 profit factor!

Now here is where it gets real interesting. Had he traded the robot using our suggested 10% the robot would have achieved 140% profit (14,032.20) in just two months! Furthermore, had the participant traded 5 lots equal to what the winner was trading our robot would have made $70,161.00 (701.61% ROI) and come in 7th place! Interestingly, if the robot had been set to compound using our money management setting, it's entirely possible we could have made it in the top three spots!!!

To view the contest results please click on the following link:
http://championship.mql4.com/2008/users/index/1/-profit_factor

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