How can you reduce your risk? never risk more than you can afford to lose?

Risk is the possibility of not getting expected result of something. So there is risk for everything. So without getting risk you can do nothing. But there are some ways to reduce the risk. 
01. Take the risk.
This is most suitable for the people who love risk. This is  the option with highest risk.
02. Manage risk
In this, risk taker calculate the possible risk and find ways to reduce that risk. When you managing your risk, you should have to measure possible risk in the future. 
03. Shifting risk
This option is the way that mostly use in currently. By shifting your risk, you shift your risk to another party like 'Insurance Company'. Than if the risk is happened the other party will take that risk for you. But there is some cost. So before shifting that risk you should know that risk is more worth than the cost.
04.Avoid risk  
Like I mentioned before there is nothing without risk. But  there is only one way to fully avoid the risk. That is not doing the thing that give you the risk. That is the only way.
So, those are ways of handling the risk. As mentioned in the equation don't ever risk more than you can handle unless that risk is more worth than that. Because that risk could give you opportunities that you cannot ever get in your life. But you can mange that risk.
So, what is your opinion? What is the best way of handling the risk?       

Ithink its b hope it ! : )