you rightly say big caps offer more liquidity, I think it also gives a higher probability trading, which is a totally different with small cap speculative plays.
with the big volumes & transaction values in place,
I am okay to deploy a higher or much higher amount of capital, and the FA+TA analysis is often more reliable in large caps.
sometimes I find a 15% gain in large caps trading in net dollar amount would be higher than a 150% gain from micro caps trade
me thinks short term trading is about probability + efficiency of running your capital,
small or big caps are all okay to me, as long as they get in my trading system
I will carry out the trade and execute it by my best