One final note is that as of May 15, 2009, retail Forex customers can no longer take
"long and short positions in the same currencies in the same account." What that means is that you can no longer do what is probably the simplest and easiest to keep track of method with hedging, which is taking long and short positions with the same currency pair in the same account. However, there are ways around this ruling, in that you can use other techniques to hedge and/or go offshore with your trades. Fx Forex Hedging Strategy