*Conservative Risk Management:* 1. Risk-Reward Ratio (RRR): Consider <1:1 (e.g., 0.5:1) 2. Risk per Trade: Limit to 0.25-0.5% of capital *Personalized Approach:* 1. Diversification: Align with trading style and market conditions 2. Trading Term: Choose based on individual strategy and market *Robust Strategy Development:* 1. Backtesting: Thoroughly test strategies for reliability 2. Stress Testing: Simulate various market scenarios 3. Continuous Monitoring: Refine and adapt strategies *Additional Best Practices:* 1. Position Sizing: Optimize for risk management 2. Stop-Loss Placement: Strategic placement to minimize losses 3. Emotional Control: Maintain discipline and patience 4. Continuous Learning: Stay updated on market insights and strategies *Recommended Resources:* 1. "Trading in the Zone" by Mark Douglas 2. "The Disciplined Trader" by Mark Douglas 3. "Quantitative Trading" by Ernie Chan By implementing these strategies, traders can: 1. Minimize losses 2. Maximize consistency 3. Adapt to changing markets 4. Achieve long-term success