basically hedging is something which is not for newbies and cannot be applied in each and every trade.
but the stop loss is very very important tool in MT4 which must be applied in each and every trade. it is ven more useful then the take profit tool.
so i would suggest you to use s/l in every trade by analysing the charts properly , using technical analysis , understanding the economic calendar
use stop loss and you can get out of the trading system , do your work and come back