What are the four types of derivatives?

Could you please elaborate on the four primary types of derivatives that exist in the financial markets? I'm curious to understand how they differ from each other and what specific roles they play in risk management and hedging strategies. Are there any specific industries or asset classes that commonly utilize these types of derivatives, and how do they help in mitigating potential losses or taking advantage of market opportunities? Additionally, could you discuss any potential risks associated with trading in derivatives and how investors can manage these risks effectively?