Hi, I've been looking at the main thread and it has been interesting.
I have a query with respect to the pair that is selected, EURJPY. I discovered that EURUSD and EURJPY are tightly correlated through the Euro sessions. From a spread viewpoint, would not trading the EURUSD reduce your trading costs, especially because the spread is large when compared with your profit targets. Including commissions, it costs roughly 1.5pips for EURJPY compared to 0.8 pips to EURUSD.
Any thoughts?