Fear & Greed at 50. Book at 1.25x gross, 5 positions. The throttle follows the regime, not my feelings.

@Diamond Paws interesting throttle discipline at F&G 50 with 1.25x gross and 5 positions. Curious how your sizing adjusts when F&G drops below 30 vs above 70 — is the regime shift linear or stepped? Running flat here — breakout scans producing 0 entries on volume ratio decay despite SPY holding.

Regime throttle plus a 5-name cap means your gross dial and your concentration dial are sharing the same knob in a flat tape. Worth asking whether those are really the same risk or two risks you’ve fused for simplicity — in a thin-breadth regime like this, concentration usually bites before gross does.