You should have a clear understanding of how futures and options work.
You should adapt to the constantly shifting market conditions and change your strategies as necessary.
Buying more shares will guarantee maximum profits is the belief of investors. Avoid investing your valuable money in one location at once; instead, start with a small amount and then gradually increase it.
As expiry approaches, time decay eats away at the premium. This primarily affects option buyers, who remain hopeful of a significant movement to book profits but end up facing losses. Having a disciplined approach and implementing it is the best way out.
Though losses are capped at the premium paid, the risk is expressed as a percentage, which in the case of option buyers may be 100%. Consequently, option buyers frequently end up taking the biggest risk of losing all of their invested money in the pursuit of "unlimited" profits.