Here's how I check to make sure my media moisture content is 'just right'. In the example shown it is 'just right'. In the end (the last picture), if you have to use your other hand to clean off the first hand, you've got too much. And as you can see in the last photo, my hand is clean so I would accept that as being 'just right' or good enough, anyway.
Start by grabbing a handfull and squeeze hard ( pictures 1 and 2)
Then release and drop back into the bowl. It should fall freely leaving very little in the palm of your hand--see how nice and smooth and evenly it fell back into the bowl.
In next 2 pictures, close you hand and work your fingers and thumb together just a little bit and then release again. And, like magic--your hand is clean.
I use this same method for checking media moisture and mix texture for seeding as well. I sure would like hear if anyone else does this a little differently--just for variation.