People who invest in only a few stocks and go all in, how to you manage risk?

I moved on from ETFs and am doing individual stocks. I’ve been doing decent w the bull run but I’m holding I believe 35 stocks as of writing this. Some are doing better than others.

Well I sometimes see posts from time to time of people starting w 100k and making bank off having under 10 holdings in their portfolio. Like massive run up gains w certain picks.

Is this a gradual skill level up whereas time goes on and you get more comfortable you go “all in” on a select number of stocks?

One of my friend only holds 2 stocks and he’s majority all in. Holding them for a few months to years hoping to make a bag off them.

Do you have tight stop losses? Check up on your holdings once a week? See if EMA levels hold? Double triple check stock fundamentals
Every week/ quarter?