Is hedging a good trading strategy?

[Rambo35]

One of the ways to protect your account when trading forex is to use the hedging trading technic. There are many techniques used to hedge a position, but the logic behind is simple. When you are in a long position in a specific currency pair you will take another position that would protect your trade should the currency pair move downward.

 

[Rob Taylor]

Hedging can be a very good strategy if you know how to use it correctly, but opening a buy and sell position in the same currency pair is not something i would recommend, and is not a good hedging strategy.

 

[eyeball]

Hedging a losing position to protect against further losses only postpones the inevitable and can magnify a minor loss into a major problem. Your first loss is ALWAYS your best loss

 

[triplet]

Not all brokers allow hedging but hedging can help a trader minimize risk and so it can be a useful too in risk management

 

[alexflemj]

Can automatic trading help with hedging? I've heard of EA's that provide good ways to keep your positions "safe".Also, does hedging work on all timings? I mean you must aim at a larger pip profit, keeping the broker's commission in mind which suggests keeping your positions long term.