How do you monitor positions from a short term trader perspective?

Answers to following question gives me a short term trader perspective

• Has the stop loss been hit and should I trigger the stop loss
• Although the profit target is yet to be reached, can I book partial profits?
• Having achieved profit targets, should I exit or hold on with rolling stop loss?
• Is the market too volatile for overnight risk?
• Is it better to close out trading positions ahead of the credit policy / budget etc?
• What is the worst case loss that can happen if the Nifty falls by 5%?
• Do I have sufficient capital and capacity to take that kind of a loss?