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Modern Day Alchemy, LLC
A Software Licensing Company
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Frequently Asked Questions
This sounds too good to be true, how do I know this is not a scam?
Simple! You keep your money in your own account. Only you have the ability to put in or take out money whenever you see fit.
Instead of me asking you to trust us with your chicken, while we promise to return to you the eggs it produces at a later date and time, we’re saying you keep your chicken in your own yard, and watch and count for yourself the eggs it produces.
The most important feature of our business model is that you and you alone control, direct, and manage your trading account. All we are doing is licensing you automated software to facilitate YOUR trading activity.
Also, we are now using MyFxBook.com as our third-party independent verification system. All trades produced by our software is tracked and verified in real time by MyFxBook.com.
What is the minimum capital required to use your software?
While our preferred broker only requires a minimum of $400 to open an account, we recommend you fund your account with at least $1000 but to be safe we recommend you fund with $3,000.
Please keep in mind that the money required to fund your account is above and beyond the $1000 initial setup fee.
What is the maximum I can start with?
That is the beauty of the FOREX market, everyday there are trillions of dollars being traded. This means that there is no ceiling on the amount of money you can invest and/or make trading the FOREX markets.
Your live broker statements look good... Can I expect to see the same results when I start?
Trading the FOREX market involves risk, and past performance does not guarantee future results. We believe our software provides a unique edge and each day is different. There is no way to ensure that the next day will perform as well or as poorly as the previous.
Please look at the live statements verified by MyFxBook.com to get a feel for typical software performance.
Do I need to keep my computer on 24/7?
No, you do NOT need to keep your computer on 24/7 to use the software. We host the software in our managed datacenter which provides both redundant power and redundant internet to ensure the software is not accidentally turned off or unable to function due to intermittent internet connectivity.
What is the financial drawdown impact of your software?
Please see our live statements (home page) as this will give you the most accurate statistics regarding drawdown.
Keep in mind; our newly designed software uses a very good risk/reward ratio so that 1 wining trade is capable of recovering up to 3 losing trades. This makes the drawdown extremely low.
Can I purchase if I live outside of the US?
Yes! Our preferred broker accepts clients from all over the world, and opening up a brokerage account with them is as simple as using the link found on the left side of our home page under the section “How it works”
How do I report income for tax purposes?
The MetaTrader platform allows you to generate reports anytime. Using these reports, you are responsible to report any earning to the IRS as additional income. If you live outside of the US, please refer to your local government's tax code. Should you have any further questions, please consult a licensed tax professional.
How do I know how your software performs on my account?
Our software trades 5 days a week, Monday - Friday. On those days you should see a few trades being placed in your account. If after a few days you do not see any new activity, please use the contact us page to report the problem and we will look into the issue.
Can I lose all of my money?
The short answer is YES! It is possible to lose all of your money, it is however highly unlikely, assuming 1) you fund your account with enough money to withstand losses that may occur; 2) you are only using the robots to trade your account; and 3) you keep the risk settings at or below the default risk settings.
As your account size increases, the probability of you losing all your money decreases. Nevertheless, as with most everything in life there are no guarantees.
We encourage you to consult with your legal counsel and/or financial advisors before licensing our software so that you make an informed decision in dealing with your money.
What is FOREX and how is it different from stocks?
FOREX is an acronym which stands for Foreign Exchange or currency market. Whenever you wish to exchange US dollars for Japanese Yen, there is an exchange rate that determines the exact amount of money you will receive once the transaction is complete. This exchange rate is traded on the FOREX markets.
The primary difference between FOREX markets, and the stock markets is simply this: When you purchase a stock, you are purchasing ownership in that company. With ownership comes rights, such as the right to attend annual meetings, and depending on the amount of ownership one has in a company, the right to dictate which direction the company takes moving forward.
In the FOREX market, the sole purpose of ownership is to buy at wholesale and sell at retail. We do this going in either direction, depending on which way the market is moving. With stocks there are sometimes restrictions placed on the trader-- for example a ban on short selling (which is selling at retail first so that you can buy at wholesale later).
Another BIG difference between stocks and FOREX is the ability for you to actually owe money to your broker should the trade go against you enough. With FOREX this will not happen. The Broker will close out any losing positions before you go into the negative, so the most you can lose is what you put into your account. With us you will NEVER get a margin call that is followed up with a bill.
I'm not sure I understand what the software does. How is it different from the online trade software that is available today? There are many that only charge a basic trade fee with no commissions.
With our software you no longer need to sit in front of your computer watching the charts and following economic news (like you would have to do with traditional trading software). No longer do you have to carry the burden of emotions while trying to guess which way the market is going to move. Our software scans the markets 24 hours a day, 5 days a week; and when it detects favorable market conditions, it automatically enters and exits the trades for you.
Because there is no human interaction there are no emotions involved, or "chasing" of trades that occurs when a human is involved in trading the markets. You simply set the maximum risk and walk away while our software works its magic.
Is there a correlation between the stock markets and the FOREX markets?
Stocks are microeconomic securities, rising and falling in response to individual corporate results and prospects, while currencies are essentially macroeconomic securities, fluctuating in response to wider-ranging economic and political developments. As such, there is little intuitive reason that stock markets should be related to currencies. Long-term correlation studies bear this out, with correlation coefficients of essentially zero between the major USD pairs and the U.S. equity markets over the last five years.
The two markets occasionally intersect, though this is usually only at extremes and for very short periods. For example, when equity market volatility reaches extraordinary levels (say the Standard & Poor's loses 2+% in a day), the USD may experience more pressure that it otherwise would-- but there is no guarantee of that. The U.S. stock market may have dropped on an unexpected hike in U.S. interest rates, while the USD may rally on the surprise move.
How can I check my account balance? Do I have to install the MetaTrader platform to monitor my account balance?
No! You do not need to install the MetaTrader platform in order to monitor your account, although if you wish to generate / view your broker statements then you will need to install the MetaTrader platform. To ensure unintended trading please login with the read-only password for safety as this will allow you to view your account and ensure that you do not accidently open a new trade or close out of an existing trade unintentionally.
The easiest way to check your current account balance is to log into our Members Only section by clicking the "My Settings" button on the top of this page.
We update our website with your account balance once every minute with your current account balance as displayed within the MetaTrader platform along with the current Total Volume accumulated by our software and your current license fee.
We actually recommend that you avoid monitoring the trading activity on a tick-by-tick basis. The way to monitor your account is to login every morning and examine your account balance. By this time, most if not all of the previous days trades should have close out, and your account balance should reflect your realized profit/loss.
What is the monthly cost if I decide to purchase the initial setup license?
After your initial purchase of our software, you will be able to run the software until the end of the current billing cycle. A billing cycle shall mean the time period starting on the first Monday of any calendar month and measuring to the last Friday following the last Monday of any calendar month.
During this billing cycle we will track to total volume (measured in contract size) generated by our software, and this number is multiplied by $25.00 resulting in your monthly license fee.
If you payment is received in a timely manner (no later than Friday following the second Monday of each month) we will continue your use of the software. If you payment is late we will assume you wish to no longer use the software, and disconnect it accordingly.
If you are simply late on the payment, there will be a $1,000 re-connect fee assessed to the account before software activity resumes. You can find the details within the Sample License Agreement (located on the Home page of this website, bottom left)
Does your software come with directions for use?
We have strived to make our software extremely simple and easy to use. Upon receiving your executed license agreement and initial setup fee, we will enable your access for this website. To login, you simply click the “My Settings” button on the top and enter the login credentials you provided when you created your account.
Once you login, you simply need to activate the software by clicking the “SET DEFAULTS” button. If after pushing the SET DEFAULTS button you see “Defaults Set Successfully” message then you have done all that you need to do (other than fund your account).
If you wish to turn on/off individual robots that are allowed to trade on your account you may simply adjust the robots risk setting. Anything higher than zero (0) will enable the robot to trade on your account.
So far today the software has executed 2 trades for me and has not had a trade open for hours. Is this normal? Is the software executing fewer trades for me because of my lower balance?
The software is constantly doing market analysis and analyzing the current market activity. Based on this information it then decides if it should open a trade or not. The number of trades it opens per day is based solely on market conditions. Even on holidays, we should get one or two trades but this is not guaranteed. If the market conditions do not exists, we may go a day without any trades. This is normal.
As for account balance, the only time this would come into play is if your account size is small, and your free margin percentage gets too low to open a new trade once the signal is triggered. Otherwise your account balance only determines the size of the trade to place when the software gets a signal to open a trade. The bigger your account balance, the bigger the lot size it uses to open the trade. As your account balance grows it increases the lot size per trade. As we take a loss, the account balance shrinks and the lot size traded will get smaller as well.
I hope this helps you understand the software a little more. Please keep in mind that each day is different, and this is a slow system meaning we don't look at one day, or one week to base performance. We look at a whole month and from this time period we base the performance. If we have a losing week, it may take another week (or two) to make it up.