There are some instances in which hedging is good, and that is if the trend is moving sideways, and you are monitoring the account. If you have to open, open 2 around the same position, to minimize the loss. As the chart is moving sideways, we are hoping for an oscillation of the price pair. Buy when low sell when high, and if you are stuck in the middle, do both. Put stop losses at the resistance/support levels, and profit at the same. Never close and immediately open another trade of the same type, unless you see that the trend is continuing in that direction. Eventually there will be a breakthrough, and one will turn negative, but if done correctly, you hopefully can make some profit.