Hi,i got my hands on alchemy 1.5,in the package it has installer for alchemy player. is this correct?

 

You don't give much information on the package.
I do NOT use the Player version.

I use: Alchemy.Full.v1.55.0.3368-CE.R5-VR-2017.04.09
I install both the 32-bit and the 64-bit versions.
I use the 32-bit one for scanning and the 64-bit one for normal use.
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Notes I made regarding Alchemy:
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Alchemy Full v1.55 will crash when scanning presets, so always use the "Player" or the 32-bit version to scan.
Rename the DLLs to make it easy to choose which one to use.
("Alchemy Full.DLL" & "Alchemy Scan.DLL" would be a clear indicator)
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Make sure the two shortcuts in VST directory "AlchemyData" & "Alchemy Configuration" point to the correct location of your data hdd choice.
If this is not done then AlchemyLog.txt will be generated in the default location.
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To reset the database you can delete the following and rescan:
- Alchemy_Preset_Ratings_And_Tags
- Alchemy_Preset_Ratings_And_Tags.bak
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If you want your name changed in the interface, open AlchemyConfig.txt and edit
NameOverride=YOURNAME
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I do NOT like using the Player version, because it seem simpler to just rename the 32-bit vst DLL that can be installed.

Player version will create "C:\ProgramData\Camel Audio\Alchemy\", with the following files:

-Alchemy_Preset_Ratings_And_Tags
-Alchemy_Preset_Ratings_And_Tags.bak
-AlchemyConfig.txt
(Installs reset the Library paths in "AlchemyConfig.txt", so always check after install.)