What are your go-to risk management strategies?

Hi everyone, I’ve been reflecting on how crucial risk management is in trading, and I want to learn from your experiences. I mean, it's pretty obvious that it is important, but I think there is varied perceptions of exactly HOW important. I’m interested in finding out about the strategies you rely on, such as: * **Stop-Loss Techniques:** Do you use fixed stop-loss orders, trailing stops, or any other method to protect your positions? Personally, I have it at specific levels that my analysis dictates should not be breached. * **Position Sizing:** How do you determine the amount of capital to risk per trade, and have you adjusted your sizing method over time? Personally, I either have a static size and target, or I pyramid in and increase my size and simultaneously trail my stop. * **Adaptive Strategies:** Do you tweak your risk management approach based on market conditions or recent performance? My system is pretty standard and I don't tweak it based on conditions, except avoid certain news events or upcoming important global announcements. * **Other Innovative Approaches:** Have you implemented any unique tactics or tools that have made a noticeable difference in managing risk? Besides what I mentioned above, I have additional rules such as no more than 2 losses/trades per day, no more than 4 losses per week. If first trade of the day loses, second trade is half the risk. Maximum risk per trade is 0.4% for prop firm accounts, 2% for live accounts. That's pretty much it, I try not to make it too complicated so I don't get frazzled. So far, it vibes well with me so I've stuck with it. Look forward to hearing more ideas and experiences.