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1. To only trade long-signals (on all charts). This would cut my valid signals in half, but would eliminate any complications due to cost of carry. Personally, I prefer the simplicity, even if it cuts a little into my profitability.
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Interesting. So, your daily bar method would leave you with two long trades each year? Keeping track of forex is a lot of work for a handful of trades a year. Is it possible that your entry criteria are too conservative? Maybe a couple of the "daily chart" guys on the forum will share a few of their experiences.
On the plus side, you can monitor more pairs if you only look at daily charts. Perhaps you can apply your system and generate trades in several pairs. (Check into which pairs have pos or neg correlations. You may be able to balance your overall account carry across pairs.)
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2. To trade long-term and short-term simultaneously.
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Many brokers are now allowing "hedging", and even suggesting it as a strategy for balancing your margin on a long term position during a retracement. I haven't done the homework, but at first glance it may be more cost effective to close a trade and then re-enter, or just weather the drawdown.
Hope this helps.