Day trading is a popular investment strategy that can be both rewarding and challenging. This strategy revolves around buying and selling financial instruments within the same trading day. To succeed in day trading, an investor needs disciplined strategies and a comprehensive understanding of the market.

In day trading, investors typically don't keep positions overnight. This type of 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. Moreover, a deep market understanding, technical analysis skills, and sound judgement are essential for success as day trader.

Day trading also comes with its set of challenges. Market volatility and unpredicted shifts can result in significant losses. Additionally, it demands considerable resources and time. Thus, assessing your risk tolerance, financial goals, and available resources is critical before you venture into day trading.

The world of day trading offers a plethora of financial instruments. From stocks and forex to futures and options, traders can choose what suits their trading style best. Each of these instruments has specific advantages and pitfalls, so understanding your investment goals and risk tolerance is critical for picking the suitable trading instrument.

Having a concrete trading plan is of utmost importance importance to succeed in day trading. It should contain specifics like the chosen financial instruments to trade, the risk tolerance level, and set profit targets. Also, it helps to have risk management strategies like stop-loss orders incorporated into the trading plan.

Constant Market observation plays an day trading undeniable role in successful day trading. Keeping a close watch on international news, economic events, macroeconomic indicators, and market trends is essential for day traders. Such monitoring equips traders with insights into potential trading opportunities and risk factors.

Despite the initial challenges, with discipline, effective risk management, and patience, day trading could turn into a profitable investment strategy. However, it is important to remember that like any investment strategy, day trading does not guarantee profits and is subjected to market risks. Hence, thorough analysis and careful deliberation are crucial before investing.