There are many traders who enter the market with an "opinion" or "bias" as to what they think the market will do that day.  I've talked to hundreds of traders and can say I've only met one or two traders (with 30+ years experience) who can profitably trade a "bias".  Most people's opinions of the market are dead wrong!

For example, I know of 3 highly public traders who, in one form or another, call trades or give trading advice.  Today, all three of these guys recommended longs with 5-15 point stops.  As we know, the market (ES- S&P500 Emini) was down over 20 points around lunch.  While their opinions caused huge losses, our traders had a great trading day…

We were able to quickly notice the selling momentum right at market open, and took advantage of that through 11AM (our typical quitting point).  In about an hour, we had 3 high-probability trade setups that grossed about 9 points.  If we had a pre-determined bias going into the market, we might have missed those opportunities all together… maybe even lost some money.  

The lesson here is to find a system that can produce consistent results and stick to it!  While you can't take the human element out of trading 100%, it is possible to let technology do most of the work.  Until next time…