Stop-loss in actuality is the price point where your trade logic is no longer valid.
So for that to make sense you should have a clear logical reasoning behind the trade youre taking, else it would be random things you would pick from internet.
Does anyone know a time based option buying strategy like I am thinking of an possibility to buy around 2 pm and take profit of Implied volatily or so ?
I would add few things to your addition 9:15 to 10:15 slot 1, 12:15 to 1:15 slot 2, 2:15 to 3:15, these are the slots with volatility ie movement in prices, apart from these slots prices oscillate and consolidates.
I have seen some pros take trading in above slot and call it a da...
If you're salaried and below tax bracket I guess 1st 1 lakh is tax free
Else also have heard people filing earnings from option trading as a separate business under category retail, there you would have to get audited all your transactions if turnover increases above 2cr per annu...
My sharing would be keep an number in your head after losing that I won't take any trade. Cause we can have a bad day streak of continuous SL hits and yet go on overtrading