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  1. Home
  2. /Glossary
  3. /Kelly Criterion
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trading

Kelly Criterion

A formula that calculates the optimal bet size based on your edge and the odds.

Definition

A formula that calculates the optimal bet size based on your edge and the odds. It tells you what percentage of your portfolio to risk on a single trade to maximize long-term growth. Most traders use a fraction of the Kelly amount because the full Kelly is too aggressive for most people's risk tolerance.

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Related Terms

Position Sizing

Determining how much of your portfolio to allocate to a single trade based on your risk tolerance and the trade's risk/reward profile.

Risk Management

Strategies for limiting potential losses in your investments.

Risk-Reward Ratio

The relationship between your potential loss and potential gain on a trade.

Accumulation Phase

A period when smart money quietly buys up an asset before a major price move.

Annualized Return

The average yearly return on an investment, calculated to account for compounding.

Arbitrage

Profiting from price differences of the same asset across different markets.

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