I think some of the most simple strategies can work, the only problem is most of us are inpatient and want quick returns. As one of the posters said the psychological and traders mindset is the key to any winning strategy.
I was looking into purchasing a robot, but with all the negative feedback and advice, I think I'. going to give it a miss. Money will be better spent as training/trading capital.
Why not try pepperstone instead? They are FCA and ASIC regulated broker, covered funds upto 85k. Leverage is 30x which is more than you ever need in my opinion.
Yes you are correct that your are increasing your exposure and risk by trading two correlated pairs in the same direction. Understanding and keeping an eye on currency pair correlation data is key. Correlation changes over time, a currency pair ...