Arbitrage trading (synthetic quotes)

On the topic of arbitrage trading using synthetic quotes.

Example:
EUR/USD = EUR/GBP* GBP/USD

So we need 3 quotes here.
EURUSD EURUSD GBP/USD

You will then find that there is often a small difference between the actual quote (EURUSD) and the synthetic quote (EURGBP*GBPUSD).

The idea now is to make trade decisions based on this difference, this gap.

Example:
If the synthetic quote is 1.0 points higher than the actual quote, buy EURUSD

change:
EUR/USD = EUR/GBP* GBP/USD EUR/USD = EUR NZD* NZD/USD EUR/USD = EUR/USD* AUD/USD EURUSD = EURJPY* 1/USD JPY EURUSD = EURCAD* 1/USD CAD EURUSD = EURCHF* 1/USD CHF

6 options to calculate a comprehensive quote using to pairs.

Then you can create different models. For example, if 2 synthetic quotes are 1.0 points higher than the actual quotes, buy EURUSD.

Or another one. If the average of the 2 synthetic quotes is 1.0 points higher than the actual quote, buy EURUSD.

Difficulty There are many models you can use.
Make sure your broker allows this type of trading.
Track your execution, your goal is to make a small profit (measured in pips), if your execution is poor you will lose.
Spreads need to be very low, otherwise your small profits won’t be able to overcome them.

Do people here use this trading strategy?