Winner: Trade of the Week for July 4 to 8, 2011

Winner: 2011-7-04 00:03

Aaand the votes are in! Drum roll please! So many brilliant ideas, but one stood out from the rest. The winner of the Trade of the Week Contest for July 4 to 8, 2011 is none other than Donnapinciotti!

Check out her trade idea that let her bring home the bacon this week:

GBP/JPY, 4-hour
GBP/JPY 4-hour Chart

Long or Short: Long

Entry Point: 130.50

Stop Loss: 129.50

Profit Target/s: 132.50

Reward-to-risk Ratio: over 2:1

Risk percentage: 1%

Indicators used: None

Trade Rationale: I see an inverse head and shoulders on the 4-hour chart of the pair. I’m planning to go long around the break of the resistance at the neckline. Read more…

Trade Adjustments: I’m gonna move my stop when I’m halfway to my profit target.

Congratulations! Every trader will now freeze in awe at the sound of your name. Okay, maybe not. But don’t be too surprised if someone asks you for an interview or an autograph!

For those who didn’t win, don’t give up! Put your thinking caps on for this brand new week and keep your eyes peeled for ’em sexy setups! Who knows, it may be your name that I’ll proudly be announcing next week!

Voting: 2011-7-02 00:06

All right guys, it’s time to put those setup-spotting skills to the test!

This week it looks like we have a pretty good mix of majors, comdolls, and crosses. Unfortunately, only one idea can get the Trade of the Week title. So which trade idea do you think has the best trade setup? Check ’em all out and place your bets!


Submission: 2011-6-30 23:42

Good day Forex junkies! it’s that time of the week again to submit your awesome trade ideas.

For the pros, this is a good chance to help your fellow traders earn some pips. For the newbies, look at this opportunity as a sort of practical test! You can finally apply the things you’ve learned in the School of Pipsology!

If you have a brilliant idea to share, you can submit them to be have a shot at being chosen as the Trade of the Week for July 4 to 8, 2011.

The submission period is only from 3:00 am EST to 12:00 midnight EST Friday, July 1, 2011 so make sure you are able to throw your idea into the mix!

Submit Ideas at Readers’ Choice: Trade of the Week forum
Official Rules and Regulations
Trade of the Week Hall of Fame (Past Winners)

Don’t have a trade idea to share? Not a problem! You can still participate by casting your vote for the Trade of the Week! The polls will open 12:00 midnight EST on Friday (July 1, 2011) and will close 12:00 midnight EST on Sunday (July 3, 2011).