I am wondering does SL/TP really matter at all for this question. If you are looking for better than 50/50 that has to presume that you have some method of entry and/or exit that generates a higher probability of a win than loss?

On a 50 point bet (tp=50, sl=50), with a 1 point spread (2%) you would need a 51% win rate to break even. If your 'method' gives you > 51% you would have something that can make money.

If you/system cannot see through the 'noise' then the market will be random to you and you will not do better than 50/50. If you can only do 50/50 you are losing money because of costs.

I guess the 'noise' is why we have algorithms that try and filter. In reality though, are those filtered features anything more than random over the long term?

If you are doing less than 50/50 then you have either an emotional problem, or a brilliant system that is running upside-down!