Blink,
a) I have 20 years of data that supports the theory. Seems logical also, panic causes larger moves....
b) It could be price adjusted, maybe, but I know in 1998 we were trading larger daily XJO point ranges than this present period.
c) Is there anything that predicts the market? I don't think so, else we would all be making $10m a year, however, my point is that providing you get on the right side of a trade "larger range" days will reap larger profits.
You know the old saying, "cut your loss and let your profits run". It's correct for the XJO trades as well.
Rob is a good range trader and as he, I always calc the daily 100%-75%-50% range numbers. It gives you targets to aim for and helps keep you on the right side of the daily move. Hey, it's not perfect but a lot more profitable than a dartboard.
Cheers.
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