Here are some basic risk management strategies:
1. Protect your capital through proper position sizing to avoid heavy losses on a single trade.
2. Determine how much of your total trading capital to allocate to each trade.
3. Follow the 1-2% rule and risk no more than 1-2% of your trading capital on any single trade.
4. Limit downside risk to minimize the impact of losses.
5. Keep your trades close by applying proper position sizing