I never use a water ball. Whatever ball I’m playing, I step up and hit it. And, contrary to the rest of my golf game, I consistently steer clear of the water. Sometimes I choose the wrong club or misjudge my shot, but I almost never shank it into the water.
My theory is that because I don’t even give it a second thought or “give myself the option” to fail by using an old ball, I don’t fail as often. I play a water shot just like any other shot by focusing on where I want to put it, and hitting the ball. How often I put it there? That’s another story.