If I went into tradeoff issue, would only be fair to list advantages too, wouldn't it? Let's. Steady consistent profits; high level of confidence; worry-free mind; staying liquid, ready to pounce on the next hot play or clean setup; ability to sustain you through the sideways market when there are no clear trends.
OK, one thing still remains unanswered. Where is that price level that defines first leg of the movement? How does one know first leg is about to be completed? Most often it happens around the level where profit roughly equals your initial risk. This is what we call "1:1 risk/reward ratio". Obviously, for such level to be found objectively, one needs some criteria for initial risk (you can call it stop size or stop placement, same thing). This is where we go into the territory of the setup structure, the subject of one the following articles. One quite important thing to realize at this point is, scalping is NOT a trading system - in a sense that there are no setups specific to scalping. This obviously follows from the definition for scalping that I gave earlier. If you go for profits taken at 1:1 level, then the only thing that is going to show you where that level is is your setup which defines the size of your stop (initial risk). And in this sense scalping can be utilized within the framework of any trading system - whatever setups you like, know, can read successfully, have feel for, you can use for scalping.
Although the concept of setup structure is not purely scalping related, I will try and make references to scalping applications when discuss it, to round this topic up and tie loose ends.