How much size can you actually use with the Kelly criterion?
A positive edge does not mean unlimited size. Kelly is useful because it gives you a survivable size before you talk yourself into a heroic one.
Start with half Kelly
At 60% win rate and 2.0 odds, half Kelly is usually a more realistic starting point than full Kelly.
Suggested size10.0%
Full Kelly20.0%
Edge20.0%
Wealth after 12 rounds120
Quarter Kelly comparison
Reducing the fraction further makes the growth path calmer, which is often the trade people actually want.
Full Kelly20.0%
Edge20.0%
Wealth after 12 rounds111
What if the edge is thinner?
A small drop in win rate cuts the sizing fast. That is the point of the framework.
Full Kelly10.0%
Edge10.0%
Wealth after 12 rounds105
Next steps
Use Kelly to cap the size, then translate that cap into your actual risk rules.