Stop-Loss and Stop-Win Rules: Math vs. Psychology
Stop-loss and stop-win rules don't change expected value. They change variance and the distribution of session outcomes — which is the whole point.
Kelly Criterion for Casino Games: When Math Tells You to Sit Out
The Kelly Criterion sizes bets at the edge. In every negative-EV casino game the Kelly answer is the same: bet zero. Here's why and when that changes.
