Quoting silverpikeDislikedNo, it doesn't. The Kelly value is a formula-derived number, and it tells the trader what percentage of the total capital to risk on each trade. This number is determined from the risk/reward and win rates.

Choosing percentages less than this value will work, but the system will not make money as fast as it could (in theory). Using percentages larger than this means the trader may end up in ruin (total loss of capital). The Kelly value is chosen to minimize a certain "risk of ruin". I don't know offhand what criteria the online calculator uses, but it's probably appropriate.Ignored

Say for instance you have a:

50 pip stoploss, max drowdown 100 pips, average loss 10 pips,

that should yield a different percentage than say:

100 pip stoploss, drowdown 300, average loss 20,

even if the expectancy is the same.