WAGERBIRD
Log InOpen Alpha Terminal
WAGERBIRD® Alpha Academy · SMT 100 First Principles · Part IV: Risk, Size and Rules
Included with every Alpha Terminal plan
Lesson 03

Kelly, for Orientation

Many sizing approaches exist. The Kelly criterion is one recognized approach: it sizes a position from a win probability and the price. This lesson works it in dollars, one operation per row, and shows why WAGERBIRD® does not size by it.

WAGERBIRD® ALPHA ACADEMY

Included with every Alpha Terminal plan.

Read the full Academy with an active seat: Alpha Plus ($99/mo), Alpha Pro ($199/mo), Alpha Max ($349/mo), or Alpha Desk ($2,995/yr). Want to read a sample first? SMT 101 Lesson 01 is open to everyone.

View Seats ($99 – $2,995) ↗
Read SMT 101 Lesson 01 ↗·Sign in ↗
SMT 100 · Part IV: Risk, Size and Rules (10 lessons)Full course syllabus ↗
  1. 01Rules Before the GameRead ↗
  2. 02The UnitRead ↗
  3. 03Kelly, for OrientationRead ↗
  4. 04The Exposure ProtocolRead ↗
  5. 05What You Trade and What You SkipRead ↗
  6. 06Reading Units and Setting the LimitRead ↗
  7. 07The Worst Price You Will TakeRead ↗
  8. 08The One-Page RulebookRead ↗
  9. 09Runs of Losses and DrawdownRead ↗
  10. 10Review on a ScheduleRead ↗