Winner: 2011-6-4 00:00
The votes are in, and we’ve got a winner! So many brilliant and awesome ideas, but one stood out from the rest. The winner of the Trade of the Week Contest for the week of June 6 to 10, 2011 is littlebopip!
Here’s littlebopip’s trade idea:
Long or Short: Long
Entry Point: 1.4430
Stop Loss: 1.4380
Profit Target/s: 1.4600
Reward-to-risk Ratio: 3.4:1
Risk percentage: I’ll risk 1% on this trade so I’m hoping for a 3.4% win if it gets triggered then hits my profit target.
Indicators used: RSI (14)
Trade Rationale: EUR/USD is still in a strong uptrend because it’s inside an upward channel on the 1-hour chart. I don’t want to go against the trend so I’ll take a long trade on this pair. Read more…
That’s it for today folks! Don’t forget to check out my Best Forex Trade System of the Month contest. If you know of any good mechanical systems out there, feel free to submit them. Let’s help each other out find the best trading systems out there.
Voting: 2011-6-4 00:00
The submissions are in, so the ball is in your hands now! It’s time to vote for your favorite trade setup for June 6 to June 10, 2011!
This week, we’ve got a lot of awesome ideas to choose from. Some are already deep in the money!
I’ve compiled a neat list of the setups that have been submitted by our users. Take a look at which trade you think is best and vote for it!
- EUR/USD Long by littlebopip
- GBP/USD Long by jenesaisquoi
- EUR/JPY Long by Donnapinciotti
- USD/CAD Short by mattspips
- EUR/USD Long by Ray_1
Submission: 2011-6-2 23:56
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 6 to 10, 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 3, 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 3, 2011) and will close 12:00 midnight EST on Sunday (June 5, 2011).
So what are you waiting for? Let the games begin!