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 starting off on the journey of day trading, one has to understand that it needs strategy. Absent a strategy, it is just akin to gambling, and the winnings may not be sustainable. Successful day traders often utilize various strategies, including scalping, swing trading, and arbitrage.

The strategy of scalping involves profiting from small profits from a large number of trades. Scalpers usually hold their trades for a few minutes or even seconds. The main aim is to purchase stocks at website 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 capitalize of the swings in stock prices caused by news events and the general workings of the financial markets.

Arbitrage trading is about buying in one market and selling in another, profiting from a temporary difference in prices. It is generally considered risk-free for the investor.

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

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

To mitigate such risks, all traders should set up an exit strategy. It's additionally vital to integrate variation your portfolio and don't put all your eggs in one basket.

Lastly, just like any other job, the key to success in day trading lies in educating oneself. Study as much as possible and keep updated with market updates. The more information you have, the greater your chances of making a successful trade.

In conclusion, day trading is a lucrative but risky venture. It requires serious commitment, strategy and understanding. With these in place, anyone can make a success in this game of numbers. Spend time learning and constructing an effective strategy, and watch your profits grow.