From all that I've read:
1. Random walk Hypothesis vs Non-Random:
Neither can sustainably prove and hold.
2. Probability and outcomes of such statistics have been around 50% with +/-5-10% range.
This establishes the 50% chance.
3. Then I tried SD (Std Deviation rule), the 34% thing holds but it is also bound by +/-34% which is again 50% but 69% of the times it closes in the 1SD range and 99% in 2SD.
After similar other stuff, removed all indicators etc etc and holding on to price-action and trend.
Discipline of Trader is opp. of Engineer.
> Engineer always wants to think out-of-the-box, different from everyone else.
Trader should behave like Sheep and stick with Trend. Go against and get buried.
> Engineer has time to retest, Trader is a Fighter jet pilot in split second decisions.
> Engineer observes keenly but doesn't have a Trader's eye
bcos Engineers revolve around laws and the market bends laws.
I don't intend to demean the efforts here, in fact, I love all the stats Vagar11 puts and hope more comes. I'm one of those who from above role #1 evolved to role #2. Like our electronics, dual profiles for dual purposes.