When a forex trader enters a trade with the intent of protecting an existing or anticipated position from an unwanted move in the foreign currency exchange rates, it means we are entering a hedge trade. Does hedging is part of your trading strategy and how it works for you?
Personally no I do not hedge. There are advantages to hedging, however, I would rather take a loss and enter a new trade on a clean slate then try to set up a security for future loss which in turn hinders profits. To each his own. I do know a good hedge takes some serious time invested in research and skillz. Good luck to ya though.
I do hedge but rarely …and no, I do not hedge as part of any strategy but there are times when I do hedge especially if I am not sure how the market is going to react to a certain news…not always, but just a few times.
I do, like FXmall, hedge on occasion…
Nope. If a trade ain’t going right, slash it and move on to the next trade.
There are two kinds of hedging. The real hedging is when you open two positions on two instruments that are inversly related. For example buy USDJPY and buy XAUUSD. This kind of hedging is used by funds and banks and the other big players.
The ‘fake’ hedging (and its actually a misnomer), is what some retail traders use. You just open two opposite positions on the same instrument. I have only ever found this useful to protect an over-leveraged account from blowout, if you are sure the original position will come back to profit eventually. There is also a news straddling strategy that works with ‘fake’ hedging.
I personally don’t hedge my positions…intentionally. If I have a long-term buy on GBPUSD and there’s a good short-term long setup on USDJPY I’m not averse to taking it. 
The Slingshot strategy I follow does not hedge, but I trade two time frames (Monthly/Weekly) so sometimes I am hedging but the difference is the length of each trade. Monthly profits are at monthly closes. Weekly profits are at weekly closes. So maybe one week I am hedging, the following week I am in sync with the monthly. The is no mix between signals of time frames. I just follow the rules. This seems to diversify my trading giving overall smoother results.
This would apply to any strategy where by you trade two or more separate time frames. This to me makes good sense.