We all know this as a trader. But how well can you follow your well-written risk management plan determines your result. It doesn't matter how much you know managing funds, it all lies down on how are you able to follow it. Not only that we have money or fund. We also have mental capital which we also preserve. If we lose this, we can't expect ourselves to perform well in front of the charts. It's not only the monetary value, but the psychological value of the risk involved.
Even if one doesn't have enough experience in the market, trading, and risk-management techniques, one can learn about how they can manage their trades along with risk-management techniques so that they can avoid facing excessive losses, because risk-management might not be able to completely save you from losses but it will minimize your losses just like how stop-loss works in not letting your trade going too deep in loss and sells the asset immediately.
So one should obviously practice risk-management techniques before they enter the market so that if a trade they made didn't go the way they expected it to go, the techniques applied save them from facing excessive losses or getting their capital or a part of it stuck in a single trade.
They should always have a back up plan for everything , every time I am doing something I have a plan B and C not because I am expecting that my plans will fail but I want to lessen the risk that I will be encountering once it is failed. Crypto is very volatile so it is not very easy not to have risk management , they should know at least how to use TP and SL.