Summary
Variance vs EV trade-off and when to hedge.
Key takeaways
- Educational analysis only — not advice.
- Focus on repeatable process and price quality (CLV).
- Use unit sizing and exposure limits.
FAQ
Is this advice?
No. Educational only. Outcomes are uncertain.
How to size a unit?
0.5–2% of bankroll; consider partial Kelly 25–50%.
How to know if I have edge?
Track CLV vs the market close on a robust sample.