G'day, Just starting out trading the dax index, done a few good trades but have had some shockers as well. I've mainly been buying calls and puts and selling them and making small profits. Had no stops in place on two trades and got smashed. what is the general rule with setting stops, 20-30 points below what the options were brought at or should i forget about buying (directional trading) and start selling. Any advice would be much appreciated. Thanks Bill