I do a lot of hedging. I am more of a technical trader - paying attention - mostly - to 20-50-200 daily-weekly and monthly moving averages. It's amazing that when things are trending up well - and then they fall - they always seem to find their support at one of those levels (usually - unless there is some other reason). I then place well-hedged strangles and straddles on options where I won't get eaten up by the spread.
Ditto.
(I used to be President of a group of active investment professionals.)