Day trading is a popular investment strategy that can be both rewarding and challenging. It involves trading various financial instruments in one single trading day. To succeed in day trading, an investor requires a clear understanding of the market and disciplined investment strategies.

In day trading, investors do not hold positions overnight. This speculative trading strategy has the potential to generate significant profits but also comes with a high level of risk. Therefore, it requires a calculated and strategic approach.

A successful day trader must have a range of skills from quick decision-making abilities to intense discipline. Furthermore, a deep market understanding, technical analysis skills, and sound judgement are essential for success trade the day as individual's efforts in day trading.

Risks and challenges are synonymous with day trading. Market volatility and unpredicted shifts can result in significant losses. Moreover, day trading requires a significant investment of time and resources. Hence, before delving into day trading, it's pivotal to assess your financial goals, risk tolerance, and investment resources.

The world of day trading offers a plethora of financial instruments. These include stocks, forex, futures, and options. Each of these instruments has specific advantages and pitfalls, so understanding your investment goals and risk tolerance is critical to choose the right instrument for trading.

Having a concrete trading plan is paramount in achieving success in day trading. It should contain specifics like the chosen financial instruments to trade, the risk tolerance level, and set profit targets. Incorporating risk management strategies such as stop-loss orders into the plan is also beneficial.

Continuously monitoring the markets plays an inevitable role in successful day trading. Keeping a close watch on international news, economic events, macroeconomic indicators, and market trends is essential for day traders. This constant vigilance can provide valuable insights into potential trading opportunities and risk elements.

While day trading might seem daunting initially, with perseverance, discipline, and effective risk management, it can act as a lucrative investment strategy. However, remember that day trading, like any investment strategy, does not assure profits and is subject to market risks. Hence, thorough analysis and careful deliberation are crucial before investing.