Alchemist Trading Algorithm Review - The Forex Geek (2024)

Author: The Forex Geek | Published: December 7, 2023

In the ever-evolving landscape of financial markets, the quest for sophisticated and efficient trading tools has led to the integration of artificial intelligence (AI). Among the contenders in this dynamic space is the Alchemist Trading Algorithm, a system that promises monthly returns through fully automated AI-driven trading, although traders may want to approach this claim with a level of scepticism. Nothing can be guaranteed in trading, there are always risks involved. In this extensive review, we will delve deep into the intricacies of Alchemist™, exploring its unique features, benefits, ease of use, customer support, and pricing plans to provide a thorough analysis of its capabilities.

Key Features

AI Powered Trading Software

At the core of Alchemist™ lies a user-friendly AI system that operates on autopilot, making it accessible to traders with varying levels of experience. The emphasis on fully automated trading is a notable feature, eliminating the need for users to possess prior trading knowledge. The proprietary Pattern Alchemy© methodology sets Alchemist™ apart, offering a unique approach to analyzing chart patterns across multiple timeframes. What distinguishes it is the application of exponential weighting, ensuring that recent pattern matches hold more significance, contributing to the system’s adaptability in dynamic market conditions.

Adapt Fusion© Function

Alchemist™ goes a step further with its Adapt Fusion© function. This innovative feature is designed to continually refine every other variable within the software. In the fast-paced world of financial markets, adaptability is key, and Alchemist™ aims to stay not just in the game but ahead of it. The commitment to ongoing refinement showcases a proactive approach to handling the ever-changing market dynamics.

User-Friendly Alchemist™ Software

The Alchemist™ Software is the linchpin that integrates Pattern Alchemy© and Adapt Fusion© seamlessly. This amalgamation results in a plug-and-play solution for automated trading. The emphasis on user-friendliness ensures that traders, regardless of their background, can navigate the software effortlessly. This ease of use is crucial in democratizing AI-powered trading and making it accessible to a broader audience.

Benefits of Alchemist™

Automated Trading and Passive Income

Alchemist™ not only promises automated trading but positions itself as a tool relying on AI algorithms and eliminating the need for manual intervention, so users can potentially benefit from the financial markets without actively managing trades. This feature caters to both seasoned traders looking to streamline their processes and newcomers seeking an entry point into the world of trading.

Proven Performance and Peace of Mind

Eight years of proven success provide users with a level of confidence in Alchemist™. The track record instills a sense of reliability, crucial for users entrusting their investments to an automated system. The assurance of proven performance allows users to focus on other aspects of life, offering peace of mind as the software efficiently manages trades.

How to Use the AI

The Alchemist™ AI is designed to be user-friendly, serving as a plug-and-play solution for MetaTrader 4, one of the most widely used trading platforms globally. Recognizing the diverse user base, Alchemist™ offers a comprehensive video tutorial series that guides users through the installation process in under an hour. This commitment to user education ensures that both experienced traders and novices can seamlessly integrate the AI into their trading strategies. Furthermore, a responsive support team is on standby to assist users in case of any difficulties, adding an additional layer of user support.

Why Choose Alchemist™

Mobile App and Transparency

Alchemist™ offers a mobile app, providing users with the ability to track their performance in real-time using the MT4 Mobile App. This mobile accessibility is a significant advantage for traders who are constantly on the move, allowing them to stay connected to their investments. Additionally, the platform emphasizes transparency by providing live performance, track record, and backtest data in the FAQ section. This transparency is instrumental in building trust among users, as they can make informed decisions based on historical data.

Customer Support Availability

One of the standout features of Alchemist™ is its commitment to customer support. With 11/7 support available from Monday to Sunday, from 09:00 a.m. to 08:00 p.m. (CET), users can expect prompt responses to their queries, typically within 10 minutes. In the fast-paced world of trading, where timing is critical, having a responsive support team can be a game-changer. This level of support reflects Alchemist’s dedication to ensuring a positive user experience.

Pricing Plans

Alchemist™ offers three distinct pricing plans, providing users with flexibility based on their preferences and financial goals:

1. Silver Plan (€39/month)
   • Alchemist™ Software
   • Instant Access
   • Easy setup
   • Premium Support
   • Free future updates
   • Cancelable at any time
   • Money-back guarantee
2. Gold Plan (€99/3 months)
   • Alchemist™ Software
   • Instant Access
   • Easy setup
   • Premium Support
   • Free future updates
   • Cancelable at any time
   • Money-back guarantee
3. Platinum Plan (€349/lifetime)
   • Alchemist™ Software
   • One-time payment
   • Instant Access
   • Easy setup
   • Premium Support
   • Free future updates
   • Money-back guarantee

The tiered pricing structure provides users with options that align with their preferences and commitment levels. The inclusion of a money-back guarantee across all plans showcases the confidence that Alchemist™ has in the effectiveness of its product.

Money Management

Effective money management is a crucial aspect of successful trading. Regardless of your trading strategy, risk tolerance, or experience level, implementing sound money management principles can help protect your capital and improve your overall trading performance. Here are some general tips on money management when trading:

1. Set Realistic Goals:
   • Define clear and achievable financial goals. Understand the amount of risk you are willing to take and set realistic profit expectations.
2. Risk-Reward Ratio:
   • Use the risk-reward ratio to assess potential trades. A common rule of thumb is to aim for a ratio of at least 1:2, where potential profits are at least twice the amount of potential losses.
3. Diversification:
   • Diversify your trading portfolio across different assets or instruments. This helps spread risk and reduces the impact of a poor-performing trade on your overall capital.
4. Position Sizing:
   • Determine the size of each trade based on your risk tolerance and the specific parameters of the trade. Avoid risking too much of your capital on a single trade.
5. Stop-Loss Orders:
   • Always use stop-loss orders to limit potential losses. Set your stop-loss at a level that aligns with your risk tolerance and trading strategy.
6. Risk Percentage:
   • Determine the percentage of your trading capital you are willing to risk on a single trade. A common recommendation is to risk between 1% and 3% of your total capital on any given trade.
7. Stay Informed:
   • Stay informed about market conditions, economic events, and other factors that may impact your trades. Knowledge is a key component of effective risk management.
8. Regularly Review and Adjust:
   • Periodically review your trading performance and adjust your money management strategy accordingly. Learn from both successful and unsuccessful trades to refine your approach.
9. Emotional Discipline:
   • Control emotions such as fear and greed. Emotional decision-making can lead to impulsive actions that may result in significant losses.
10. Use Leverage Wisely:
    • If you use leverage, do so cautiously. While leverage can amplify profits, it also magnifies losses. Understand the risks associated with leveraged trading and use it judiciously.
11. Understand Drawdowns:
    • Be aware of the concept of drawdowns, which represents the peak-to-trough decline in your trading capital. Manage your trades in a way that minimizes prolonged periods of drawdown.
12. Continuous Learning:
    • Stay committed to continuous learning. Markets evolve, and new information becomes available. Being adaptive and learning from both successes and mistakes is essential.
13. Keep Ample Trading Capital:
    • Avoid overleveraging to the point where you have insufficient trading capital. Having enough capital is essential for weathering fluctuations and remaining in the market.
14. Test Strategies:
    • Before implementing a new trading strategy with real money, test it thoroughly using a demo account. This allows you to assess its viability and understand its potential risks and rewards.
15. Risk Management Tools:
    • Utilize risk management tools provided by your trading platform, such as guaranteed stop-loss orders or trailing stops, to automate risk management processes.

Remember that losses are an inherent part of trading, and the goal of effective money management is not to eliminate them entirely but to control and mitigate them. By implementing these principles and adapting them to your unique trading style and goals, you can build a solid foundation for long-term trading success.

Conclusion

The Alchemist Trading Algorithm emerges as a formidable contender in the world of AI-powered trading. With its focus on Pattern Alchemy©, Adapt Fusion©, and a user-friendly Alchemist™ Software, it positions itself as an innovative choice for traders seeking a hands-free approach. The proven performance, transparency, and robust customer support further enhance its appeal. As with any investment, users are encouraged to conduct thorough research and, if interested, leverage the money-back guarantee to test the effectiveness of the Alchemist Trading Algorithm in their unique trading scenarios. In a landscape where innovation is key, Alchemist™ stands out as a promising solution for those looking to harness the power of AI in their financial endeavors. Please feel free to see my best forex robots for some alternative options.