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Winner: 2011-12-12 00:23

The Trade of the Week for December 12 to 16, 2011 belongs to none other than…

Pip Devil!

Pip Devil, now a five-time Hall of Famer, got the thumbs up from the community once again with this EUR/USD short trade idea:

EUR/USD Short by Pip Devil

Long or Short: Short
Entry Point: Market (1.3370)
Stop Loss: 1.3440
Profit Target/s: bottom of the channel (1.3285)
Reward-to-risk Ratio: 1:1 at the beginning, but can be more depending on how position is managed
Risk percentage: 2%
Indicators used: 100 SMA

He cited the recent ECB interest rate cut as a reason for shorting this pair. To learn more about his trade rationale and read what others have said about his trade idea, check out his thread!

So that wraps up another awesome edition of Trade of the Week. Tune in again this Friday if you want to see more setups from fellow traders!

Voting: 2011-12-10 00:05

Four of our brave forum users have stepped up to put their trade ideas to the test. With that, I declare the polls officially open!

Which of the following do you think deserves to be our Trade of the Week?

Remember, you only have until 12:00 a.m. EST on December 12, 2011 to cast your votes, so you’d better act fast!

Submission: 2011-12-09 00:15

It’s Friday and y’all know what that means! Not only is it time to put on your dancing shoes and hit the club, but you can now submit your trade ideas for next week’s Trade of the Week Contest!

You know the drill! All you gotta do is start a thread in the Reader’s Choice: Trade of the Week forum and make sure you follow all the guidelines outlined in the official rules and regulations of the contest.

This is your chance to be part of the Trade of the Week Hall of Fame and have your name echoed in eternity!

Just remember, you have from 3:00 a.m. EST to 11:50 p.m. EST on Friday, December 9, 2011, to submit your awesome trade ideas.

Even if you don’t have a trade idea for next week, you can participate in the contest by voting for your favorite setup over the weekend.

Now, go forth, get on those charts and find those fabulous trading setups!