Many children are over-protected, these days, so never learn risk assessment. As soon as mine learned to walk I taught them how to go up and down stairs in a safe way, and none of the five ever fell. Likewise, they were allowed to use play equipment, with a little advice on safety, and learned what was, and was not, sensible.
I'm sure that, as they grew older, they did some mad things (out of sight of mum and dad) just as I and my friends did. However, they had the background training to decide how dangerous the activity was, and we never had more than the odd cut or bruise to deal with.
Life is full of risks, and we need to allow our children to learn how to assess and cope with them. By 10 years old most well-parented children should be pretty adept at doing so.