I have a few words about Stop-loss. A stop-loss is vital to your success. What happens if you are away from the screens and the market goes against you?

You need to limit your loss. There are countless stories of traders who thought that they were too cool for stop losses and blew out their entire account. You see this a lot in the case of trading naked options.

So use a stop loss.

Even if you use mental stop losses, be sure to install an alert to let you know that price is getting to a critical level.