Winner: Trade of the Week for June 27 to July 1, 2011

Now that all the votes are in, it’s time to see who has come out on top! We had some pretty awesome trade ideas, but the readers have spoken! This week’s winner for the Trade of the Week Contest is Pip Devil!

I know we shouldn’t be making deals with the devil, but you might wanna check this one out:

EUR/USD 1-hour
USD/JPY Hourly Chart

Long or Short: Short

Entry Point: 1.4300 (between 50.0% and 61.8% Fib, 100 EMA)

Stop Loss: 1.4350

Profit Target/s: 1.4150

Reward-to-risk Ratio: 3:1

Risk percentage: 1%

Indicators used: 100 EMA

Trade Rationale: Overall euro weakness. Trend is down. Read more…

Trade Adjustments: Basically a set and forget trade, but close early before the US NFP report if you choose to hold it for that long (probably will hit sl or pt before that though).

Doesn’t that sound like a fabulous deal? Congratulations Pip Devil! You are now a member of the Trade of the Week Hall of Fame!

Look at that growing list of winners! Feel like you belong there? Then submit a trade idea this week! There’s no shame in trying!

Voting: 2011-6-25 00:01

All submissions are in, now it’s time to put on our thinking caps and choose which one is best!

This week, it seems like everyone’s feeling bullish… all the submissions are long trades! But only one can become this week’s Trade of the Week. Which of these four do you believe is worthy?



Submission: 2011-6-24 03:00

I know you’ve all been dying to share what you’ve learned from the School of Pipsology. Now’s your chance to wow your fellow pipsters with your fantastic forex analysis! You can now submit your brilliant trade ideas to be chosen as the trade of the week for June 27 to July 1, 2011.

Don’t hesitate, mate! Throw your trade idea in the mix before it’s too late! The submission period is only from 3:00 am EST to 12:00 midnight EST Friday, June 24, 2011. Just remember to post your trade ideas under a new thread in the Readers’ Choice: Trade of the Week forum.

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 (June 24, 2011) and will close 12:00 midnight EST on Sunday (June 26, 2011).

If you have any other questions, you can check out the official rules and regulations of the contest, or you can hit me up with some comments below.

So what are you waiting for? Let the games begin!