Day trading, typically known as trading of financial tools throughout a single day, has become a significant method of generating income in the financial world. Day traders often exploit the minute price movements in the financial markets to make profits.

Before jumping on on the journey of day trading, one has to understand that it needs plan. Absent a strategy, it is just like gambling, and the winnings may not be sustainable. here Successful 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 often hold positions for a few minutes or even seconds. The main aim is to buy stocks at low prices and sell them when the price goes up.

The strategy of swing trading, on the other hand, is for those who can spend a portion of their day monitoring 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 making a purchase in one market and selling in another, profiting from a temporary difference in prices. It is typically considered risk-free for the investor.

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

While day trading has the potential for substantial profits, it’s not without potential risks. 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 challenging to know which way they’ll go.

To mitigate such risks, all traders should create an exit strategy. It's equally vital to spread out 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 developments. The more data you have, the more effective your chances of making a lucrative trade.

To sum up, day trading is a rewarding but risky venture. It requires considerable commitment, knowledge, and strategy. With these in place, anyone can succeed in this game of numbers. Make time to educate yourself and develop an effective strategy, and watch your earnings grow.