Hedge-ring/triangular/basket

Hi!
I have today been thinking about some hedge-ideas. I know that there is something that calls hedge-ring that includes more then 2 pairs to hedge up for one another.
I have read somewere (don't remeber were) that this kind of rings works best with AUD/USD involved.

Anyway... I can't find any links to some of these systems. Would some one please help me out? I have searched not only in this forum but i just can't fins any... maby i enter wrong words in the search box...?
The closes i have found is at another forum that involves three pairs.


Well... one more question. These kind of hedge rings are they used only for the swap or is it possible that it can move in favour for you so that the spread is not just overcomed but you even end up with profit in pips?

/ JoLi

This has been discussed many times. There is a "hedging - swap" (http://www.forexfactory.com/showthread.php?t=24673) thread that pops up every once in a while as they're tracking a few pairs in it.

I'm not sure how viable the strategy is long-term, but current conditions seem to be fine for it.