To me it seemed that taking the USD/CAD short was a good idea because the trend could have supported a short. I was dead wrong. I got in at probably the worst time. Even though my first entry was decent, I was in the money, my second was 2x the size, and that was the problem, rather than getting out when I was slightly behind, I held it through all the pain!
Now, I am stuck with holding this thing into possibly NFP tomorrow morning, I plan on resting up.
Some ideas:
USD strength - buy dollars vs. the yen, and euro
USD weakness - likely a shift in risk appetite I want to buy AUD, keep the CAD position and look into increasing my position in AUD/JPY
The most important part of this plan for tomorrow is that I: WAIT!! and get in at a good time, it could be up to 1/2 hr or 45 mins - I won't be aggressive
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