range, a factor of expectancy
typically range is a factor of my expectations on how much money to get out of the markets on that day
so lets say your system for sideways markets is on average performing results of 1.5 times of the daily range and you have a week of lets say a daily range of 20 points on the ES than the weekly goal would be 150 points
these assessments are very valuable to measure su=system performance and your performance in alignment and deviations from such goals for more scrutinized reflections if everything is on target or not and to have real criteria on evaluation and improvements
yet these guidelines are quickly off when either ranges get to extremes, outside their norm either very small ranges or very wide ranges and moreover when like in recent times, intraday trading behavior isn't up to par
when we are in circumstances of getting to the borders of the validity of our systems performance expectancy a subset of rules comes into play that honors reduced participation and is grateful for consistencies even n reduced exposure both in size and frequency and range expectations get a second row seat in importance
one needs measured, rule based , settings like this to still push against ones mental make up limitations meaning in my specific case, a clear rule set to push my overall too conservative mental mind set of being an extreme risk avoiding person within the markets where a big part of this business is the need to feel comfortable of taking risks
as always it is recommend to make all ones markets approaches at least 80% rule based with a 20% intuitive contingency
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