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Is it right to set up S/L after opening the position or you need to check first the market movement if it goes down before setting up S/L to minimize losses

Hedging means getting two positions at the same time (B/S) but it does not guarantee huge profit. Am i right? Correct me if was wrong

Hi guys, Can you please help me to find the best strategy for my investment, is it not dangerous to invest into a long term period (because we know the market volatility) or i would go for a short term period. What should i do