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Winner: Trade of the Week for November 7 to 11, 2011

Prrrrrrrrt!!! Your time is up, kids! It’s time to round up the votes and crown this week’s winner for the Trade of the Week!

For this week, let’s all give snaps to


Check out his short trade idea on GBP/USD:

GBP/USD Short by Jabroni

Long or Short: Short
Entry Point:1.5870 (sell stop)
Stop Loss: 1.5950
Profit Target/s: 1.5700 is my ultimate target
Reward-to-risk Ratio: a little over 2:1
Risk percentage: 1%
Indicators used: 100 SMA (red)

To know more about his fundamental reasons for the trade, you can head on over to the forums and read his entry.

Alright, that’s it for the competition this week! Check out your screens again on Friday to submit your trade ideas for the next round of the Trade of the Week contest! Who knows, maybe you’ll become one of the Trade of the Week Hall of Famers!

Voting: 2011-11-05 00:05

The submissions are in! For this week, we have three amazing trade ideas but there can only be one winner. Which setup do you think deserves to be this week’s Trade of the Week?

All three contenders have their eyes on the pound. Both pipballer and littlebopip are bullish on the currency. On the other hand, Jabroni is siding with the bears. Here are their trade ideas:

So which setup do you like best? Be sure to cast your vote in the poll below! Remember, you only have until Sunday midnight EST to vote.

Submission: 2011-11-04 23:58

Think you have a winning setup worth taking next week? If you said yes to the previous question, then you’re in the right place! Pros and newbies alike can share trade ideas right here on the trade of the week contest.

How, you ask? It’s easy as pie! Just follow the simple format that we’ve outlined in the official rules and regulations, and make sure you put your trade idea under the Readers’ Choice: Trade of the Week forum.

Remember, the submission period is from 3:00 a.m. EST to 11:59 p.m. EST Friday, November 4, 2011.

The community will then vote on the submitted trade ideas.

Whoever garners the most votes will be declared winner and will join all the piptastic traders in the Trade of the Week Hall of Fame.

If you don’t spot a setup, don’t worry. You can still participate in the contest by casting your vote.

So what are you waiting for? Better act now and start scanning the charts for some sweet setups!