I've been sweating my lastest, littlest, enteredlowest hedging short.
With the small price surge, it was getting uncomfortably further away from the green. Luckily, a spout of volatility brought the price even lower than it was before. As soon as I went green, I placed a stop loss limit order that would close the position while still in the green, and a lower (better) take profit limit order that would grant me a nice bag of change when closing. The stop loss hit first, so my profit has been half of what it could be.
Now I'm left with my baseline long - not hedged if it goes lower, but ready to rock with no hedging penalty if the bull run comes early. Playing wait and see, as usual.
TL;DR These leggy redheads aren't too bad if you approach them with caution and undue respect. The other women are just so... uh, ordinary.