I have talked to many people that made a lot of money in a market that was channeling, or range bound. As soon as the market broke out of the range and started to trend they lost most of the money they had just made and did not know what had happened to their ability to trade. On the other hand there are people that trade the trend and make a killing, but do not know when the trend is over and lose their money as well by trying to trade even more.
Then I hear some people that say you need to just concentrate on one or two pairs so you know exactly what they will do. This way they try to catch the best trades. I like to look at it another way. I try to become good at 3-5 indicators so I can trade all the currency pairs. Then the trades are more plentiful and I can be in more than one trade at a time to compound my profits.
I like to use a trading system which allows me to trade in any type of market, trending or channeling. If you can trade in the present then you are trading with the market and not guessing what the market will do.
So just learn to want what the market wants, take what the market is willing to give at the moment and don't want more.