No matter what trading approach you use, you need to acquire many different skills to attain consistent profitability. And, it will take much practice before you become proficient enough to be consistently profitable. This is where 90% of the traders fail because they do not realize the level of commitment and time needed to acquire these skills.

Many new traders fall into the trap of buying a trading system that promises high rates of return only to find that, when they start actually trading, they cannot seem to get "those" same high returns. Rates of return are meaningless because, ultimately, we trade our own beliefs and generate our own results.

To my knowledge, there is no "Black Box" trading system that has worked consistently over time. Markets change, making it impossible for "Black Box" systems to adapt. This is why it is so very important that you get the training and support you need while learning to trade. Trading is both an "ART" and "Science", and it needs time to flourish.

A common challenge for many new traders is how to choose the best time frames and markets to trade. Choosing the best time frame and market to trade is an important and difficult skill that requires a mastery level of understanding to implement. Here are two ideas that may help you to recognize that choosing time frames and markets will depend on your psychology and your beliefs about trading.

1. Stick It Out…
Some traders use money management and just stay on one time frame and trade through the "Draw-Down" choppy market periods, knowing that they do not last forever. All markets move in cycles, and all time frames move in cycles with trends and corrections that can generate choppy market conditions. To be able to stay and trade on one time frame and market, you need to be able to trade through "Draw-Down" cycles and have the psychology to handle "Draw-Down".

It is important to note that traders who trade this way do not quit trading just because they are experiencing losses due to "Draw-Down". Instead, they continue to trade so that they do not miss the large profitable trend that usually follows a "Draw-Down" cycle.

2. …Or Move On
Some trades switch time frames or markets when they recognize a "Draw-Down" cycle. It takes experience and practice before you develop the skills necessary to be consistent when changing time frames and / or markets. When you trade this way, it is important for you to choose the next time frame or market cycle correctly to avoid going from one "Draw-Down" cycle to another in a different market and / or time frame. Moving to another market / time frame should bring you better results than staying in the one you're in, so it's important to choose wisely.

How you handle "Draw-Down" and market time frame selection is based on what makes you comfortable and fits your personality and trading beliefs. This is the "ART" part of trading! While we can read about different methods available for dealing with choppy markets, ultimately it is up to each one of us to determine what works best for us. This is why we recommend that you "paper trade" long enough so that you give yourself ample time to develop and attain the skills necessary for mastery level trading.