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Modern Day Alchemy (FIGfx) (By Modern Day Alchemy )

The user has deleted this system.

Modern Day Alchemy (FIGfx) Discussion

Robert
robw135
Mar 18 2010 at 17:01
140 posts
At this pace you'll be able to pay off national debt and still have money left for lunch by the end of the year.

Nice performance.

Modern Day Alchemy (alchemyworks)
Mar 18 2010 at 17:06
18 posts
Thank-you. I truly believe we have created a Holy Grail that meets our definition of alchemy 😀

As it is with running any business we make money by buying wholesale and selling retail.
duzyfx
Mar 18 2010 at 17:36
257 posts
why is it that your real account runs on 400:1 leverage and you force your customers to open accounts w/JadeFX which they only offer 100:1 ...

this 'little' difference will mean alot since it seems you're using leverage to the fullest extent ...

your first trade shows -25 pips (1 trade during the whole day) and the corresponding loss for the day is -29.8% so you risked more than 1% of the account per pip ...

this strategy resembles the HYIP lol ... one mistake and your account will be wiped out clean with such exposure... especially on 100:1 account

Modern Day Alchemy (alchemyworks)
Mar 18 2010 at 19:06
18 posts
duzyfx posted:
    why is it that your real account runs on 400:1 leverage and you force your customers to open accounts w/JadeFX which they only offer 100:1 ...

this 'little' difference will mean alot since it seems you're using leverage to the fullest extent ...

your first trade shows -25 pips (1 trade during the whole day) and the corresponding loss for the day is -29.8% so you risked more than 1% of the account per pip ...

this strategy resembles the HYIP lol ... one mistake and your account will be wiped out clean with such exposure... especially on 100:1 account


Duzyfx,

Please understand that you are on the outside looking in, and your view is not accurate. Let me correct the record. The EA is currently set to run 1% risk on both accounts (Fig and Jade, Fig was accidentally bumped up and took a loss and once noticed immediately dropped back down to 1%, AND the Jade will be bumped up to 2% at the end of the month) and at no time were any of the accounts even remotely at risk. (Do the math, a properly funded account risking 1% of equity taking a ~25 pip stop loss... I think we can run 5% risk and not come close to putting the account in jeopardy)

Keep in mind that the Fig account was an account which we used to test the Fusion-V EA. Once it was determined that the Fusion-V EA was a crappy EA, we pulled it off the account. About this time we were just finishing the code for our Holy Grail EA so we put it up on this FigFX account. If there is a discrepancy between 1% risk and -29.8% it is because the account was not properly funded and the minimum lot size took precedent.

We since properly funded the Jade account and started running live this week and put BOTH accounts online for your viewing pleasure. We felt there was no need to turn off the Fig account, and made the conscious decision to just leave it running without touching (no withdrawals / no deposits) for at least 1 year.

With that said, we have noticed multiple trades taken by the Jade account which were not taken by the Fig account (some really BIG trades 100+ pips), while at the same time, Jade (being a NDD broker) encountered slippage and commissions. Time will tell which performs better, but I believe in the long run it will be the JadeFX. (Plus Jade is a NDD broker so they will not care how successful we are, were FIG is a DD broker and at some point could realize that we are not in the 95% of losing accounts and ask us to take our business elsewhere)

This 'little' difference of leverage which you speak of makes no 'real' difference when the account is properly funded. We have accounts running 2% / 3% risk and at no time are ANY of these accounts even remotely at risk (read when properly funded).

As for HYIP, I am not familiar with this, but I can assure you this is a 100% new custom EA, and not a regurgitation of anything seen before. The live testing logs will be the final arbiter and we encourage you to continue to follow it's progress as I truly believe the 'pattern' in growth that we've seen thus far should continue without pause.


As it is with running any business we make money by buying wholesale and selling retail.
DDmaster (DDmaster)
Mar 19 2010 at 00:17
43 posts
at this rate of growth why would you sell anything to do with your trading?

at a monthly gain of 1200% a 100$ account would become 2,073,600$ in 4 months....... i just dont see the point of putting in the effort to sell

and in 12 months you would have made 1000 Trillion $$$$$$$$$

Our greatest weakness lies in giving up, the certain way to succeed is always to try just one more time.
Modern Day Alchemy (alchemyworks)
Mar 19 2010 at 00:47
18 posts
davydevaux2 posted:
    at this rate of growth why would you sell anything to do with your trading?

at a monthly gain of 1200% a 100$ account would become 2,073,600$ in 4 months....... i just dont see the point of putting in the effort to sell

and in 12 months you would have made 1000 Trillion $$$$$$$$$


Kind of scary when you think about it huh??? I know we were happily surprised with the UN-OFFICIAL results that counted over 11,000 pips since January 2010. In all honesty, the 'effort' you speak about was already put into the vehicle (myalchemyworks.com) so it really wasn't that much more effort required -- and I'm sure our current clients are 100% happy with all the hard work we've put into the actual EA.

But to some degree you are right. This EA probably won't be on the market for too long (especially with these kind of LIVE results) as we will have to control the access. Never-the-less, we will cross that bridge when we get to it, and when we do, I'm sure ALL our clients at that time will be glad they got in when they did.

But your point is well taken... what kind of price do you put on something like this?

As it is with running any business we make money by buying wholesale and selling retail.
pc8multifx (pc8multifx)
Mar 19 2010 at 01:29
879 posts
As long as u don't give insight about the lot sizes you trade in relation to the account size I wouldn't pay a single dime....

Modern Day Alchemy (alchemyworks)
Mar 19 2010 at 01:40
18 posts
pc8multifx posted:
    As long as u don't give insight about the lot sizes you trade in relation to the account size I wouldn't pay a single dime....



Not that I'm worried about you paying a single dime but here is some insight for you:

The Jade account funded with 80K traded a 4.0 lot size and took a 25.3 pip loss for a $1012.00 loss. Scale that up or down as you wish and compare to the LIVE statement.

I don't think that put the account anywhere close to being at risk or in jeopardy.

As it is with running any business we make money by buying wholesale and selling retail.
pc8multifx (pc8multifx)
Mar 19 2010 at 02:12
879 posts
We are here in the FIGfx section, not Jadefx..

Why hiding the balance and telling its funded with 80K? U ask for a lot of money for your service, its just fair to put the facts open on the table, don't u agree?

The last time when people paid 1000 bucks for an 'top notch' EA( fusion) it ended in a total disaster. Open everything on your myfxbook accounts and let time tell whether its worth the price or not. If you still here in 6 month I'm in and many others too I guess.

For many good reasons I warned about to jump on the fusion bandwagon, I do it here again, as long as not everything is crystal clear and a longer excellent performance can be shown.

Modern Day Alchemy (alchemyworks)
Mar 19 2010 at 03:03
18 posts
pc8multifx posted:
    We are here in the FIGfx section, not Jadefx..

Why hiding the balance and telling its funded with 80K? U ask for a lot of money for your service, its just fair to put the facts open on the table, don't u agree?

The last time when people paid 1000 bucks for an 'top notch' EA( fusion) it ended in a total disaster. Open everything on your myfxbook accounts and let time tell whether its worth the price or not. If you still here in 6 month I'm in and many others too I guess.

For many good reasons I warned about to jump on the fusion bandwagon, I do it here again, as long as not everything is crystal clear and a longer excellent performance can be shown.


Because you asked 😀

But in all honesty... in 6 months... there will probably not be any more seed invitations available and you will HAVE to know a member to get into the club as I have a fixed number that I am releasing to the general public (which I'm sure you can understand).

Also, the reason Fusion sucks is because of risk/reward ratio. we use a fixed 25 pip (or less) SL...

As it is with running any business we make money by buying wholesale and selling retail.
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