Submission: 2011-10-20 23:58
After a crazy week in the forex market, I’m pretty sure a handful of y’all are excited to put on your dancing shoes and start your weekend already. But before you go out and hit the club, why don’t you throw in an awesome trade idea for this week’s 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 [B]submission period is from 3:00 a.m. EST to 11:59 p.m. EST Friday, October 21, 2011[/B].
The BabyPips.com 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!
The entries are in and you know what that means - it’s time to vote for which trade idea you like best! It looks like we got a mixed bag of trading ideas this week as we have one on a currency cross and two on the majors.
Here are the setups:
http://forums.babypips.com/readers-choice-trade-week/41210-tw-10-24-2011-nzd-usd-short-littlebopip.html
http://forums.babypips.com/readers-choice-trade-week/41209-tw-10-24-2011-usd-chf-short-jabroni.html
http://forums.babypips.com/readers-choice-trade-week/41221-tw-10-24-2011-euraud-long-pipballer.html
Three ideas, but only one will win the contest. You only have until Sunday midnight EST to vote so pick one quickly!
VOTE HERE!
The battle was fierce, but there can only be one winner to join the ranks of the Trade of the Week Hall of Famers!
For this week, let’s welcome back
Jabroni!
For the third time in a few months,Jabroni snagged another winner, this time with his USD/CHF short setup on the 4-hour time frame. Here are the details of his trade idea that earned him 25 votes:
Long or Short: Short
Entry Point: .8850
Stop Loss: .8950
Profit Target/s: .8659
Reward-to-risk Ratio: exactly 2:1
Risk percentage: just 1%
Indicators used: Just support and resistance levels
To know more about his fundamental reasons for the trade, check out his USD/CHF short entry in the forums!
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!
Read more: Winner: Trade of the Week for October 24 to 28, 2011 | Forex Blog: Espipionage
