Having a bias going into trade (WTW trade review)

One of the biggest mistakes I think most traders make is focusing solely on intraday patterns.  While the intraday action is important, if the overall picture does not support this, you are just trading chop.  And chop will kill your account.  I know this because it has been a problem of mine.  A problem that I have been working hard to correct.  I had an "a ha" moment yesterday after talking with a good friend of mine about this subject.  I'll summarize what we spoke about.

Going into the day, before the market even opens, we should be able to look at a chart and easily be able to identify whether this is a long or a short.  If you can't determine it, you probably should not be trading that stock.  This is why making a watch list the night before is so important.  From your watch-list, you should have a bias on the stock entering the day.  Whether it be long or short.  Okay, so you have your bias and the opening bell rings.  Let the stock make its initial (often emotional) move.  A stock will normally tell you what it is going to do after that.  I stick with my bias unless the stock does something to prove it wrong.  I'll give you an example of what my friend said about this (I hope he doesn't mind me using his words)  "you need to think of it (the stock) like a story...you see WMB bias was short...we agreed with that.. if its going to be a long you want the f-er to reallllly prove to you that it is gonna reverse your bias...then you look at the action...it has a mixed first candle then second candle is green but doesnt show much strength, third candle says....ahh F this i'm weak....and thats when you pounce on it bc your bias was short and it just confirmed it.  thats what g/r is...a story lol of the stock trying but f-ing up and going down

Here is an example of my trade from 12/18/2015

Here is the daily going into Friday before the bell.  My bias was short, I think we can all agree with that.  So I let the stock open and here is how it played out.

The stock collapsed at the open.  From there it bounced and was rejected at the vwap.  These both confirmed my bias.  I now had my set risk.  From there I took my entry within the pattern.  Stock then ORB'd.  I then covered some.  The stock pulled back and created a bear flag so I re-entered.  WTW was a short on the daily and it trended down all day.  

This is what we are as day traders.  We are trend traders.  The stock should have a clear bias on what the trend is.  I get into trouble and lose when I trade something that is not clear.  At that point its just a 50/50 shot.  And with a 50/50 shot in a choppy chart, I tend to get chopped out.  

The lesson:  Find charts with clear trend and hammer them.  If you are asking yourself "Is this a long or a short"  find another stock.