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The cool cats of the community have spoken. This week’s trade of the week winner is none other than Pip Devil!

His short GBP/USD trade idea garnered 43.10% of the votes so if you haven’t gotten a chance to check it out yet, here’s what he plans to do:

Long or Short: SHORT
Entry Point: 1.5850
Stop Loss: Just above last week’s high
Profit Target/s: None, a trailing stop will be used. The stop should be equal to your initial stop
Risk percentage: < 2%
Indicators: None

Check out the rest of the details of his short GBP/USD trade!

Congratulations, Pip Devil!

That’s it for this week’s Trade of the Week contest, fellas! Don’t hesitate in submitting your ideas next week. You could be the next piptastic trader to be included in the Hall of Fame!

Voting: 2012-02-03 12:00

Time to close those charts and cast your votes, folks!

Looks like we’ve got a few familiar names fighting for the Trade of the Week this week! Which of the following do you think is best?

  • Long EUR/AUD by eddardstark
  • Short GBP/USD by Pip Devil
  • Short GBP/JPY by salt-n-pipper

You’d better act fast because the polls will close on Sunday, February 5, 2012, at 11:59 pm GMT. May the best trade idea win!

Before you go into cardiac arrest due to all the excitement surrounding Superbowl weekend, make sure you check-in and submit your ideas for next week’s Trade of the Week contest!

Trust me, submitting a trade setup is much easier than tackling a Manning brother!

All you gotta do is:

  1. Go to the forums and create a thread under the Reader’s Choice: Trade of the Week forum.
  2. Read the official rules and regulations and make sure that you follow the submission format.

Simple eh?

Remember, the submission period is from 3:00 am EST to 11:59 pm EST Friday, February 03, 2012.

What are you waiting for? Get on those charts and start looking for that piptacular setup!