Bayesian Statistics is being increasingly used by hedge funds in their algorithmic trading systems. Bayesian Statistics gives us the tools to start with a prior belief and then use the data to improve on that belief. For example, we can use Bayesian Statistics to predict the high and low of the price in the next few hours and then use it in our trading strategy to set the stop loss and take profit targets. We have developed this Bayesian Statistics For Trades Course that will teach you how to do it. Take a look at it.