Quote from Scientist:
This is a great thread, but one thing I've noticed is people's tendency to assume or "think" something particular will happen. Whereas, the best attitude to assume in the markets is that of "anything can, and probably will happen". As soon as you have a particular directional bias, you may be denying information to the contrary, and that's dangerous. Never forget that really ANYTHING can happen. I quoted a popular story on this in my DAX thread once:
Anyone and anything can change the course of the market, anytime! Never forget that!
Now you might say: "If I can't have a bias, how can I trade?" Well, you can always trade, by taking an "educated guess". If the R:R (and possibly even hit rate) is in your favor, there is no question you will do well, and that without having any bias whatsoever.