I often trade these baskets of currencies, they seem to work well. This one is a mix of AUD and NZD against the JPY,USD and CHF. A classic risk barometer. The weight of each currency in the basket ensures that the dollar cost of 1 days movement (ATR as a proxy) is equal for each of the constituent currency pairs. These trades tend to be longer term lasting from 3 weeks to 6 months, controlling risk is really quite difficult as the stop loss for the individual currencies is nearly impossible to work out. As a result I trade an end of day policy in this case I will close all trades if the basket drops below 4.45 that's almost 1300 pips. I will look to take profit at a point greater than 4.750 around 1700 pips. I have taken positions giving $6.20 per pip.