Overall, I have concluded that long term trading is definitely more profitable for the time and efforts we are spending and all other types of trading may be suitable for the passionate traders and definitely not for the part time traders.
However in markets that are not as volatile arbitrage trading can be the best and safest choice, after all in many markets most traders cannot get 10% per year in profits, something that is entirely possible with arbitrage trading, while at the same time if you do everything correctly your chances of losing your capital are very close to zero, so in that scenario arbitrage trading is not only the fastest way to raise your capital but also the safest.