Risk management is not about being bearish on the market; it’s about admitting that you will make judgment errors. Before every trade, determine three things: the maximum you can afford to lose, where to cut your loss if you’re wrong, and what percentage of your total capital each position represents. Beginners should avoid going all-in, frequently increasing leverage, and trading with living expenses. People who can stay in the market long-term are often not the ones who win every time, but the ones whose losses are always controllable.