To try to show how a hedging strategy would work and you would need to use low leverage to keep swap costs down. Here is the NZD/USD monthly chart. The difference between its highest high and lowest low is 5000 pips. If you spaced your trades 100 pips apart you would have a potential of 50 buy trades and 50 sell trades going as your maximum number of trades. In reality you would not sell at the low ends of buy at its extremes. WHY? Because for an economy to function properly prices have to stay in a certain range. If the value gets too high your products become too expensive and no one buys them. If the value gets too low your economy gets overheated and you fight inflation with higher interest rates and other measures. So all currencies will stay within a certain range or balance for the long term good of the economy. You can see on this chart back in 2000 when Pres. Bush started the depreciation of the dollar to get things back to balance. Then they let it go too long and it collapsed in 2008. Then with recovery and China continuing to grow it came back up again. Anyway once you have your 50 buy trades and 50 sell trades set covering your DD, you are permanent DD and every trade is profitable from then on out. NZD dollar wont go lower than its lowest price unless there is a total economic collapse and it cant go much higher than its highs because it wont be able to sell its products. They will become too expensive. You could go for decades of just collecting those 100 pip profits from then on. It would take 10 years to have it complete to full DD. Meanwhile while this is all happening you are taking 100 pip profits along the way as price jumps up and down, up and down. Obviously this is a long term trading strategy but it would work.