How do you define risk?

I Am Now reading Smarter Trading. Risk is defined by him as volatility. Volatility = Risk appears to be the egy from what I have read on trading. For instance - maximum drawdown is equated with danger, which is not anything more than a measure of volatility.

But here's the thing I can not escape from my head - should not we be a lot more worried about the chances that a egy will recuperate than we are with how volitile the equity curve is? I'd much rather trade a system that is volatile having an 95% likelihood of recovering from almost any drawdown compared to a smooth system using a 70% likelihood of recovering from any drawdown (other variables being equal).

Are there some helpful metrics out there which quantify a systems capacity to recoup from drawdown (without caring how volatile what is?)

Are there some other essential approaches to defining danger?

Thank you Ahead of Time.

James