Position sizing from win probability and reward:risk.
Kelly Criterion Position Sizing
Turn a win probability and reward:risk estimate into a disciplined position size, instead of sizing by feel.
%
R
$
Full Kelly
40.0%
Exceeds typical single-position risk limits.
Half Kelly
20.0%
Quarter Kelly
10.0%
Full Kelly assumes your win-probability and reward:risk estimates are exactly correct, which real-world estimation error makes unlikely — half or quarter Kelly is standard institutional practice. This is a sizing framework, not investment advice.