daring and presumptuous; to act in a foolhardy or unscrupulous manner without regard for consequences

Describes having enormous courage or audacity; so reckless that one might even do something terrible without fear

brave and decisive in action while also being careful and thorough in thought

Describes someone who is extremely brave or daring; literally "gallbladder as big as a bushel".

The brave take risks and reap rewards, while the cautious fail because they are afraid to act.