We are constantly managing risks throughout our lives – either during simple tasks (such as driving a car) or when making new insurance or medical plans.
It aims to reveal all sorts of events that may cause negative effects.
Risk assessment After identifying the risks, the next step is to evaluate their expected frequency and severity.
Investors and traders often use a combination of risk management tools and strategies to increase their chances of growing their portfolios.
It may seem counterintuitive to enter positions in opposite directions, but if done properly, hedging can reduce the impacts of a market move.
Overall, risk management defines how to handle risks, but it’s certainly not only about avoiding risks completely.

Source - https://academy.binance.com/en/articles/a-beginners-guide-to-understanding-risk-management?utm_source=BinanceAcademy&utm_medium=Social&utm_campaign=Article
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