I get asked that question allot, some fisho's use one or two sizes of hooks for most of their fishing. They say that you can catch a small fish on a small hook and a big fish on a small hook also. Well thats true but it has allot of problems with it in reality. The real issue is to match the hooks to the size and species of fish you are trying to catch. Size of baits is also a consideration, try puting a worm on a hook that is 5 sizes to large and expect to try to catch a trout with it. It might take it, but on most occasions all your going to achieve is to soak a line in the water for a few hours. Now take that same worm and put it onto the correct smaller hook and there could be a huge difference in catch rates. Certain species of fish have small mouths so a large bait is going to be passed by. This works both ways, as the small hook with larger fish is just going to get lost in the size of the baits. Take the same size hook and go Snapper Fishing with them. Now place them into the larger baits that you will need to target the snapper and 99.9% of the times you will end up with the fish taking the bait without the hook being anywhere able to be set into the fish mouth. Also you might need a bigger bait to be able to target the specific species that your after, so putting on a small bait and hook will only get you more nuisance bites from other unwanted fish. So the size of the hook is relevant to the size of the fish and the baits being used. You dont need a huge amount of hooks, just a variety of sizes for the fish that you wish to target. Any tackle store will be happy to help you out with advice about your choice and I am only too happy to be of any help to anyone that needs some guidance. Just an email away.