Hedging can be more effective in highly volatile markets, while stop loss orders can be impacted by temporary price fluctuations,

Stop loss can also make a trade miss opportunities, you may miss out on potential gains you know.

Hedging provides more flexibility than stop loss as it can be adjusted or closed due to changed market conditions.

But the two can actually work together, and combining both strategies will provide a more efficient risk management strategy as long as it aligns with your trading goals and risk tolerance.