1) Knowledge
2) based on pt 1 above, drawing a plan and taking action
Just 2 cent from my experiecne. Option trading is not straightforward. There are 5 to 6 factors that affect the price. It is an decaying asset. that has limited life.
In my view, if you don't know the basics of options then best way to protect money is not to trade in option.
Just my views (feel free to ignore if you want).
happy trading.