hgjnhikn
Re:Are You Trading or Gambling?
on Saturday February 27, 2021 @09:38AM (#26285110)
You could make a table where row is guessed probability(input to Kelly criterion) and column it's actual probability and cells contain expected value and expected log value. And pick something which looks reasonable.
Re:Are You Trading or Gambling?
on Saturday February 27, 2021 @09:29AM (#26285047)
Bet sizing in poker is not determined by the Kelly criterion, it's determined by maximum expected value with at most a tiny penalty for high risk.
Where you could in theory apply the Kelly criterion is in selecting which stakes to play at. But in practice it seems more chosen through rules of thumb / common sense / feeling than an actual application of the Kelly criterion.