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If you want to trade like Pro Traders then never underestimate these Four Keys of Risk Management Planing Methods.

1. Acceptance
This involves acknowledging the existence of a potential risk but choosing not to take any proactive measures to mitigate it

2. Transference
In this approach, the risk is shifted or transferred to a third party, typically through insurance or contractual agreements

3. Avoidance
Avoidance entails identifying and eliminating activities or situations that could lead to risks. It involves steering clear of activities or projects that carry a high level of risk

4. Reduction
This method aims to minimize the impact or likelihood of a risk occurring. such as implementing safety measures, contingency plans, redundancies, or improving processes