Risk management should be inbuilt into the strategy you use.
Reversing out of a bad trades, if using a trending strategy. initially Hair raising.....
Rolling your options to the next month, thus waiting to be 'right'. (A favourite)
Never committing more than 3% of your net portfolio/cash to any one trade. An absolute.
Simply put ...Aiming to make One ( profit) then only Risk One ( stop loss).