Of course, there are many other factors that come into play, which can be harder to identify, and are most malleable. Think about your dad or mum being there with you while you practice riding a bicycle. Does it encourage you to try harder? Perhaps it makes things seem easier when they’re there to catch you. Or maybe them being there stresses you out!
That’s kinda like external influences, such as your investment experience, or the presence of a financial advisor or friend who advises you. Different people may react differently to these influences. Someone who recently lost money may become scared to invest, because of the potential to lose more, but someone else may become pushed to take riskier choices in order to recover their losses.
Experience is another factor that would affect your risk profile at that point in time. After a while, you’re probably happy to go faster, to use less training wheels, to maybe even go for a ride without daddy nearby. This is your appetite for risk willingness adapting to changes in your experience and knowledge.
Of course, there’s so many other factors involved. Do you have weak bones that makes the potential for breaking something high? Are you tired and sleepy, and therefore lose balance more easily?