The Kelly criterion: does anyone actually use it?

Kelly says how much to bet to maximise growth, given your edge — and full Kelly is violently aggressive for trading, so practitioners use fractions. The maths is elegant; the inputs (your true edge) are guesses.

Have you tried it?

• the fraction you used and why
• how it felt through a losing streak
• what you'd tell someone curious about Kelly sizing

The expectancy guide supplies the inputs Kelly needs.