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I think its a good idea mate! Ive been looking into different hedging strategies myself over the past month or so and this is a good one. I think i would just be happy closing all of the trades once one of them hits the take profit, - 0.5 is better than -1 any day! To all you saying i'd be...

Hey thanks for the reply! Yeh looks like its sort of similar, more so longer term. Bit awkward. Probably looking at weekly correlation im guessing using daily charts. Just looking at the chart i can see some of the swings look the same but when GBPJPY starts trending it looks a lot more stable...

do GBPUSD and GBPJPY move pretty much the same? if we are trading swings does this matter as much? they dont move pip for pip do they? reason im asking is im long on GBPJPY with a target of 173.000 and looks like GBPUSD is going to go short! im not going to trade them at same time im just...