Risk management, stock market, diversification, asset allocation, hedging, behavioral finance, systematic risk, unsystematic risk, technology in finance, sustainable investing. This systematic review explores risk management strategies in stock market investments, emphasizing the necessity of effective risk mitigation in an increasingly volatile financial landscape. The review highlights the concept of financial risk, detailing the various types, including systematic and unsystematic risks, and their impact on portfolio performance. Key strategies such as diversification, asset allocation, and hedging techniques are analyzed, alongside behavioral finance considerations that can influence investor decisions. The review also identifies challenges in implementing these strategies, such as costs, regulatory hurdles, and market unpredictability. Finally, it discusses future directions in risk management, particularly the role of technology and sustainable investing. The findings underscore the importance of adapting risk management practices to optimize investment outcomes in the evolving stock market environment.