This setting also depends on your trading goals and how comfortable you are with possible, isolated larger losses. The differences between risk levels are the following (also explained directly below the risk levels):
Our most relaxed strategy that buys often and sells with the highest possible returns per trade. A very wide stop-loss results in trades being held longer, betting on a recovery of assets over time.
A balanced strategy, looking for stronger opportunities to buy. Will close the position at a reasonable stop-loss and sell only when there is no more upside to expect.
Can be perceived as a scalping strategy. Only buys the strongest opportunities and will therefore trade less. Tries to lock in small profits as quickly as possible and has a tight stop-loss.
Simply put, a lower risk results in less trading activity but in a higher certainty that the trade will be profitable in a shorter amount of time.