I have done several types of rug binding ~ wool yarn wrapped edge with and without cording, Cotton binding tape, cotton pillow ticking as the rug tape, wool strip wrapped edge without cording, and wool covered cord. There are still other techniques that I haven't tried..... the Eaton edge, crochet edge or the braided edge. There are probably more binding edge techniques than those mentioned even. Anyway, I shall attempt to tell you how I do the wool covered cord bound edge; not saying this is the right way, but is how mine is done.
First thing I did after drawing the pattern was to immediately do the two rows of straight stitching and the zig zag stitch all around about 1 1/4" away from where the last row of hooking would be. I find it a lot easier to manipulate a non hooked rug around the sewing machine than a heavy one hard to move around. After it is hooked then all I have to do is trim away the excess and begin the steaming and binding task. You can see it here before it is trimmed.
Next thing I do is cut wool strips 2 1/2" wide and since they have to stitched together you lay them on an angle and stitch across. If you look carefully you can see the white line I drew for the sewing line. You attach all pieces together in this fashion until the length is a smidgen more than enough to go all the way around.
Then you iron the seam open so it is easier and more flat to work with. You will note that because of the angle of the seam (sewn on a bias) when you fold it over to enclose the cording there will not be the bulk of 4 layers of wool because it IS at an angle.
Thanks for stopping by to see what is on my frame and what's 'hookin'. TA TA!