Yep cycling is important and you must do it unless you want to be doing 100% water changes in your tank everyday- as far as stocking levels are concerned, say you have a 20gal tank and you want to do a cycle with fish. Even though you could easily fit 10 guppys in it, you could only put 2 in it while it is not cycled or still doing its cycle.
Personally i suggest you for a fishless cycle mainly because you don't put your fish's health at risk and also because it is quicker, there's lots of articles on you to go about a fishless cycle on the beginners section

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To do any cycle though you will need a filter, dechlorinator and water testing kits- without any of these you can't realy cycle your tank.