Effective risk management is a cornerstone of long-term success in investing. Investors who implement strategic approaches are better positioned to protect their portfolios while optimizing returns. Below are five essential steps designed to help both experienced professionals and beginners develop a disciplined and confident approach to managing investment risks. Define Clear Investment Goals Every investor has specific financial objectives, time horizons, and levels of risk tolerance. Establishing these factors is foundational to effective risk management. Clear and well-defined goals guide the selection of appropriate investments and the development of diversified portfolios that align with individual comfort levels. Consider Oprah Winfrey...