do you enter an opposite trade with same pair or another currency pair
hedging just saves the spread which is only 4 pips max
hedging just freezes your position basically to save you coming out
with the interest rate differentials it will cost
I first started trading to hedge gbp cash in the bank so i could fix the exchange rate into usds as i knew i was coming to live here..I only shorted gbp
any other kind of hedging doesnt work unless you are scalping short term in a range trading market - its just to save spread-peanuts really