It depends on the market you are trading and the reason for the hedge.
For example, an options trader might delta hedge their position with futures.
Someone that is running a 60/40 might hedge with options. Pairs traders hedge with a corresponding security. These are all legit.
But if we’re talking strictly currencies especially forex, not futures. Hedging isnt necessary unless your doing it at the portfolio level to keep your net currency exposure in check. To me this is the only reason to hedge in forex because other wise you create a drag on potential profit not to mention the additional spread you have to pay. There are better ways to manage risk
