I know lots of people on here think I'm very laidback, and let my children have loads of freedom, and that I'm very relaxed about it. That's only partly true.
This morning I stood and watched with my heart in my mouth as my boys (7 and 9) balanced across wonky/slippy stones amongst a pool in a cave. Earlier on I stood similarly nervously whilst they scrambled up some fairly tricky rocks to another cave (helped my dh and the dad of another family). I really was not comfortable with it, and couldn't bring myself to 'encourage' them, but knew the best thing was for me to step back and let them get on with it. I stood and watched with the mum of the other family, and discussed that we were both contemplating what we would do if someone injured themselves badly...!
On this occasion the 'risks' were ones closely supervised by adults, but I'm equally 'happy' (in an edgy kind of way) for them to go off and explore and have adventures on their own.
Sorry this is so long. What I'm trying to say is letting go, taking a risk, allowing them freedom is not easy for me or anyone; But it is important IMO. My boys (especially ds1 who is very badly co-ordinated) was thrilled to bits that he made it up to (and down from) this cave, and it was the highlight of his day.