You sir, are an idiot Study history, prior to late 80's early 90's, NO traders sat in front of computers (since they didn't have them) all day watching the markets. Don't tell me that if you are not watching the markets during the day you are not a real trader, that's a joke. Do you want to know the reason why successful traders prior to the end of the 20th century weren't watching the markets all day? Because they were too busy enjoying life. Position trading does require a constant eye on the market, it does not require watching every hour of every day.
One nice thing about traditional position trading is that you can program using Java, VB, etc. to monitor price and volume throughout the day and receive automatic ordering/alerts. This allows you to bypass level II, intraday charts, etc.
I am not sure what you mean by "yield a greater profit" but to me this means a greater profit factor, i.e. making more money while LOSING less. Now I don't think that it is a trivial exercise to demonstrate that a shorter time frame can "offer" a better profit factor... Could you demonstrate that one dollar lost in a shorter time frame can yield more dollars than one dollar lost in a longer time frame?
Never said all nor meant to imply it. But there were tape readers "back in the day." Jesse Livermore used to have a team of boys writing quotes on a chalkboard. The "streaming quote" service of his day.
I did not just say "yield a greater profit", I said "can yield a greater profit." I can think of no more fundamental principle to trading then that a greater profit can be realized in a shorter time frame then in a longer time frame. This is axiomatic to the act of trading. Any person that trades excepts this as a truth or they simply would not trade, they would invest. Every time I look at a chart, I see price movements that could have been exploited by taking a long position or taking a short position. I do not see just the first price point and the last price point, I see the opportunities that exist between. I am a trader not an investor. I am now done with this topic for I am either completely incapable of communicating the most simplistic idea, or this is a community of morons. In either case, to continue is a waste of time. Read ig0r's post above. He / she clearly understands.
This is the basic way i trade. Their are only 3 types of trends; lateral, up, and down. I want to trade every type of trend. You want to be long for an uptrend, short for a downtrend, and slalom short the high side of the range and slalom long the low side of the range for lateral trends. I feel that EVERY single time frame yields the SAME type of opportunity(lateral,up,down). The shortest time frames yield the greatest opportunity in terms of money/time. The problem is that you have to be VERY quick on the shortest timeframes(1min) and their is more of a slippage issue. So i am a trend follower who is trying to decipher what type of trend the market is in and using a strategy according to the trend i see on MY(the one i can handle) time frame. Pretty simple strategy.