Thanks! I trade directly on the contract chart using ChartTrader hotkeys in TWS and a macro keypad for quick entries and exits. The risk is pretty easy to calculate for options, for 1 contract, a 1 point move equals 100$. I get out of the trade manually as soon as it's not doing what I expected, be it a small win, break even, or small loss, it doesn't matter. I don't enter the trade and stay in until I either hit target or stop loss. I actively manage the trade and as soon as something doesn't seem right, I get out. Since I'm scalping, I'm usually in and out in a couple of seconds most of the time but I might hold for a couple of minutes when I get a good entry and there's momentum.