Unfortunately I do not know books or forums which discuss Hedge. I learn this by experience. Good knowledge is not written in internet. It must be invented and experienced by yourself. I learnt using the most dangers and volatile currency GBP/JPY. This currency have enough volatility to cover losses when you place wrong trade at the wrong price.

I also have EA for Hedge, and it will exactly hedge on demanded pips, or percentage drawdown. But my EA is too complex to be used, and it is not a holy grail that can work by itself. I do use EA to hedge when I was sleep.

There is a good e-book you can read, but it is not about Hedge. It is about trading fundamental, and physiology of trading. It is very good and recommended. At the end of the book, it tells you about the stop loss and hedge, but it doesn't tell you how. The author is Dirk du Toit.

http://www.dayforex.com
Title: Bird watching in Lion Country.

Happy Trading