Please remember that this is my own opinion and I am allowed to be wrong. I do not believe there is a right or wrong side in the "open vs limited edition" debate. This is what I feel would work better for me right now. This may not be as well thought out as I think but the beauty is that I can try.
My decision boils down to two reasons. Firstly, single editions force me to continually produce great work. I can not rely on past images to propel my future financial success. I must refill the shop after each sale. Over the course of my life, open editions would probably make me more money since I am not charging a massive price right now for the single editions. However, I am simply looking for enough money to allow me to take the images that I want when I want. Secondly, I do not want be selling the same image for years. When I look at one of my photographs, I see where I was, who I was, and the skills I possessed at a particular moment in times. The images become time capsules for my career. I will proudly display those images on my website but I hope my store grows with my career.
I will also continue to sell a collection of photographs as limited editions in larger sizes on metal.