Probability of a Win:   p = %     It may be 30% or 60% for a stock, but 50% for a coin toss! Average amount of winnings (when you win):   W =     Only the ratio W/L is important! Average amount of losses (when you lose):   L = the Kelly Ratio = p - (1-p)/{ W/L } = % Kelly% = the percentage of your capital to be put into a single trade