Sorry, I was talking about correlation trading there...my mistake.

I Hedge 2 different ways, are you talking about using it as your primary trading method, or just to help prevent losses to your trades ?

Sure....Simply look at the general, Long Term, trend of a pair.

Open orders in the direction of the trend with a take profit of 100 and no stop loss.
Then open a pending order that is 200 pips below your last order.

If the 100 T/P is taken, then take your money and keep going.

If the Pending order is taken (200 pips below the first order) then average the enter price to find your t/p on those orders.

In example:
EUR/USD long term is upward trend.
Open a buy order (lets assume its at 1.5000) t/p is 1.5100, no s/l
Open a pending order at 1.4800.

Lets say the price goes up to 1.5100 then take your 100 pips, delete your pending order and start over.

Lets say the price drops to 1.4800 and triggers your second buy order, then take the 2 enter prices and divide by the amount of open orders. so in this case 1.5000 + 1.4800 = 2.9800 then divided by 2 = 1.4900 is your t/p for both orders.

At this point you have two open orders and 1 pending order 200 pips below your newest order.

Worst case is the price moves up and you break even + intrest.

If price goes down you may have alot of open orders, so keep your lot sizes small.

Hope that helps.

Im am interested in you hedge trading strategy do you mind sharing