The Forex Decimus Trading System is a manual forex strategy that can be used in the MetaTrader 4 (MT4) platform which is freely available to download from the majority of forex brokers. You load the Forex Decimus template onto your charts within the platform, and it will display a combination of indicators that are designed to help users find entry and exit points in the forex market.
Now without further ado, this Forex Decimus Review will take a deeper look at what it has to offer. This can hopefully help you decide if it something that you will find useful implementing within your day trading routine.
What is the Forex Decimus Trading System?
Forex Decimus is a manual trading strategy which consists of multiple technical indicators that form a trading template which you attach to charts in the MT4 platform. The Forex Decimus built-in trading algorithm will then analyse the current chart that it is running on for potential trading signals.
When a trend has been detected, The Forex Decimus System will alert you to what it deems to be a buy or sell signal. Along with on-chart signals, there are Audio Alert signals in MT4 that show the time frame, currency pair, and the direction of the signal. There will also be an arrow indicating the signal.
You can set it to also send SMS and email alerts which is great, as you do not need to sit and chart watch all day long. It also means that we can concurrently analyse multiple charts without needing to constantly switch chart windows.
The Forex Decimus Trading System contains an impressive 3 algorithms in order to try and ensure that it can adapt to differing market conditions. The Forex Decimus has 2 indications of confirmation, an oscillation and arrow. When both show at the same time, it confirms the signal.
The Forex Decimus system can be used on all currency pairs and their crosses. It can even be applied to Stocks, Indices, Metals, Commodities, Cryptocurrencies, Equities, Futures and more. The developer has tested it across an extensive range of 48 currency pairs. You may of course use it on any trading instrument and chart timeframe that you wish, depending on your own individual goals.
The Forex Decimus System not surprisingly is based upon what the developer calls Forex Decimus Bars. Exclusively to scalping, or dividing little chunks of price movement in a wider trend. Forex Decimus charts deal with price action and momentum.
The Forex Decimus system looks like stacked candlesticks when they’re forming in a trend. Each Forex Decimus Signal is projected on the chart after a series of confirmations. By using The Forex Decimus forex system, market noise (which may be referred to as a period of consolidation) can sometimes be filtered out because consolidating markets exhibit hardly any directionality in price.
A level on-chart signals panel is included with Forex Decimus. It displays information such as the balance of your account, the spread of your broker, the trend of the particular currency pair, and the main signal.
It is very easy to interpret the signals as there is a trading dashboard, arrows and colour coded indicators. Thus, Forex Decimus can be used by traders of all experience levels. Just keep in mind that there is no system that can guarantee results. If anyone does, I would personally take that as a red flag.
In fact, the Forex Decimus website itself states that the system has 97% accuracy. I mean if anyone was trading with 97% accuracy, they probably wouldn’t be selling the system, right?! Unless they were perhaps not using a stop loss on the other 3%. Sarcasm aside, please always be aware of the risks involved with trading online, whether that be via an automated or manual forex trading system.
How to use the Forex Decimus Trading System?
The Forex Decimus can be used as a confirmation tool or you can use your own indicators and strategy as confirmation. You can choose to take the Forex Decimus signals as they are, or conduct your own additional market analysis. I would personally want to verify each and every signal with my own technical analysis, fundamental analysis, sentiment analysis and price action analysis.
The steps to using the Forex Decimus Trading System are as follows:
- Load the Forex Decimus template on your MT4 charts
- Wait for a signal to appear
- Make an informed trading decision
As mentioned previously, Forex Decimus can be used on any instrument and timeframe. I would usually look to trade major currency pairs as they can have plenty of liquidity which can mean lower spreads and less slippage. This can help to save on trading costs in the long-term, especially when using an ECN forex brokerage.
I would probably also trade with this particular forex strategy on the 1-hour charts and above. I just find that anything less than that, there can be quite a lot of noise for my liking. As always, only trade with what you feel comfortable with, every trader is different and nothing is guaranteed with forex trading.
As with any forex system, money management and trading discipline can make a big difference. It is not unusual to see 2 traders get different results even when using the same trading system. Why? Because they might not be using the same stop loss, take profits and have different emotions. Fear, anger and greed, can all affect trading. A poor risk to reward ratio can also mean that one loss wipes out a run of winners. I would always try to shoot for a favourable risk to reward ratio of at least 1:3 and help keep my trading psychology in check with an iron-clad trading plan.
Forex Decimus Trading System Features
By now, you should have a good idea of what the Forex Decimus system has to offer. Let’s take a look at some of its key features:
- Manual trading system
- Chart templates
- Built-in alerts
- Traders of any experience level
- Can be used on any currency pair or other asset class
- Can be used on any chart timeframe
- Compatible with the MT4 platform for desktop
- Full detailed signal panel right on your chart that displays your balance, broker spread, trend, and signal
- No lag, all signals will remain on the chart
- Multiple confirmations for a more accurate signal
- 2 Bonus Products: Elliot Wave Plot & Silvercrest Triggers
Forex Decimus Trading System Conclusion
Putting it all together, I do see some potential with the Forex Decimus Trading System. I just feel that it will require some initiative on behalf of the user, rather than it being a “set and forget” type manual system where you take every signal. Trading discipline and money management could also play a big part in its success rate.
The developer of the Forex Decimus System has provided what looks like an impressive statement of winning trades apparently from using this product. The issue for me is that these have not been verified at all. I would have like to have seen a real live verified by Myfxbook trading account that clearly shows all of the statistical historical data of trading with Forex Decimus over a sustained period of time. This would have told me a lot more than a flashy sales page would.
Furthermore, whilst I applaud the implementation of price action analysis to try and determine an entry point into the overall trend, this is nothing new. Anyone can learn candlestick patterns and use the technical indicators already built within the MT4 platform to try and determine the trend direction, such as the moving average.
Although in saying that, it can be nice to have everything all packaged together and ready in a template, especially for beginners who do not have the time to learn market analysis and sit around studying charts all day.
As with any forex strategy, I would start by practising on a demo trading account to see how I get on. If I feel comfortable with the system and produce good results over the long-term, I may then consider switching to a real live trading account.
If you would like to try out the Forex Decimus Trading System for yourself or just find out a little bit more about what it has to offer, please feel free to visit the official Forex Decimus website by using the link below.