I prefer stop loss rather than hedging. We know that hedging can help us minimize risk too. but mostly, hedging makes us get more losses because we don't want to close both trades. But if we use stop loss, we have no other choice, just let the price reach a stop loss and we must go to stop loss first as basic capital protection or money management. But that depends on several factors such as the trading strategy used or capital-based trading factors. So, the mechanism is different for each type of strategy used.