What are cons and pros of Forex Trading Systems

Trading strategies that are old school, technical analysis strategies.
This particular system of trading is widely known and traded within all of the Forex community for years. The analysis of technical aspects includes rising triangles and consolidation breaks as well as head and shoulders patterns flag patterns to mention some. The advantage of learning these systems of trading is that they actually well and have years of evidence to back it up.

The disadvantage of these systems is that many of the newest traders find this method of trading boring and see it as old-fashioned. It doesn’t have the glamour and excitement of an indicator driven systems. It’s not flashy or busy and, unfortunately, traders who are new often misinterpret complexity as an indication of higher performance and greater probability. But the reason why old school technical analysis remains in use is due to the fact that it works and lots of successful traders utilize it in their trading way. Apart from the lack of excitement the old-fashioned technical analysis trading strategies have lower success rates and this is something that many people are unable or unwilling to manage. A lower rate of success does indicate that the profits from winning trades tend to be large that makes the strategy lucrative and worth the effort since it offers an excellent foundation for learning about the Forex markets.