Day trading, commonly known as trading of securities throughout a single day, has become a significant method of generating income in the financial world. Day traders often take advantage of the minute price movements in the stock markets to make profits.

Before jumping on on the journey of day trading, one has to comprehend that it needs plan. Absent a strategy, it is just akin to gambling, and the gains may not be sustainable. Victorious day traders often utilize various strategies, including swing trading, arbitrage, and scalping.

The method of scalping involves taking small profits from a large number of trades. Scalpers generally hold their trades for a few minutes or even seconds. The main goal is to acquire stocks at low prices and sell them when the price goes up.

Swing trading, on the other hand, is suitable for those who can spend a portion of their day observing the stock market. Swing traders make use of the swings in stock prices caused by market news and the general workings of the financial markets.

The arbitrage strategy is about purchasing in one market and making a sell in another, profiting from a temporary difference in prices. It is usually considered risk-free for the investor.

Day traders also employ various types of market analysis tools to predict which way the price will move. Technical analysts study price patterns and chart indicators to anticipate future price movement.

While day trading holds the potential for substantial profits, it’s not without risk. Probably one of the most significant risks in day trading is its volatile nature. Share prices can increase or decrease rapidly, and it can be difficult to know which way they’ll go.

To mitigate such risks, all read more traders should develop an exit strategy. It's equally vital to diversify your portfolio and don't put all your eggs in one basket.

Lastly, just like any other career, the key to success in day trading lies in learning. Peruse as much as possible and keep updated with market updates. The more data you have, the more effective your chances of making a lucrative trade.

To conclude, day trading is a rewarding but risky initiative. It requires significant commitment, knowledge, and strategy. With these in place, anyone can make a success in this game of numbers. Take the time to learn and build an effective strategy, and watch your returns grow.