I trade all setups. My job is to take my signals, there is no hesitation. You either believe in your ability to consistently read the market or you don't, ESD
A most difficult lesson to learn in beginning but a "MUST" learn one. http://www.youtube.com/watch?v=07okiZ8c2ws&feature=related Winners, not losers. Someone else said: Don't cut down your flowers and keep the weeds
My most difficult trade is always the first one of the week. It's funny, but after I take a loss or two, I seem to settle in.
That's where discipline comes in. If you're having a bad streak, it's usually because (1) your bias is wrong, or (2) stops are improper... either too tight or not placed at most reasonable place for the charts.
Nothing greater than a -10 tick initial stop for CL is necessary. If -10 cents won't hold, chances are good that -40 or -50 won't either. It's all in the key entry points identified and taken ** My toughest trade used to be going with an opening gap instead of expecting the eventual close = looking to fade. Now if there is a slight price move towards the gap and signal to enter going away from the gap, I just take it without emotion. The style I trade has no directional bias... it is direction neutral. The better I get at adhering to what price tells me, the more money I make. Funny how that works
Let me challenge this statement as a point of logic. What trade can you have which has "no directional bias"? Even if all of your trades are spreads, you betting on the spread to narrow.. that is, one side is "out of whack" in terms of value and you're playing it to correct to proper value. I say there is ALWAYS a bias in a trade.... even if it's just a short-term one. Stated differently... if I "go long at support", my bias is for a bounce. If I "go short at resistance", my bias is for a dip. If I "chase a breakout", my bias is for that move to continue for a while, at least.