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

Before jumping on on the journey of day trading, one has to grasp that it needs plan. Without any strategy, it is just akin to gambling, and the winnings may not be sustainable. Victorious day traders often utilize various strategies, including scalping, swing trading, and arbitrage.

The strategy of scalping involves taking small profits from a large number of trades. Scalpers often hold securities for a few minutes or even seconds. The main goal is to buy stocks at low prices and sell them when the price rises.

The strategy of swing trading, on the other hand, is suitable for those who can spend a portion of their day watching the stock market. Swing traders capitalize website of the swings in stock prices caused by economic reports and the general workings of the financial markets.

The arbitrage strategy is about purchasing 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 employ various types of market analysis tools to predict which way the price is going to move. Technical analysts analyze price patterns and chart indicators to foresee 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 volatile nature. Share prices can go up or decrease rapidly, and it can be difficult to predict which way they’ll go.

To mitigate such risks, all traders should develop an exit strategy. It's equally vital to integrate variation your portfolio and not put all your eggs in one basket.

Lastly, just like any other profession, the key to success in day trading lies in learning. Read as much as possible and stay updated with market updates. The more data you have, the greater your chances of making a profitable trade.

To conclude, day trading is a lucrative but risky endeavor. It requires serious commitment, knowledge, and strategy. With these in place, anyone can prosper in this game of numbers. Take the time to learn and build an effective strategy, and watch your profits grow.