Within the financial sector, day trading is a preferred investment strategy which is both rewarding and challenging. It involves buying and selling financial instruments within the same trading day. To succeed in day trading, an individual needs a clear understanding of the market and disciplined investment strategies.

In day trading, investors typically don't keep their positions overnight. This speculative trading strategy can yield substantial profits but also carries a high degree of risk. Therefore, it requires a calculated and strategic approach.

A successful day trader must have multifarious skills which include strong discipline and quick decision-making. Moreover, a deep market understanding, technical analysis skills, and sound judgement can boost any individual's efforts in day trading.

Day trading also comes with its set of challenges. Volatilities and unpredicted market shifts can result in significant losses. Moreover, 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.

A solid trading plan holds 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.

Continuously monitoring the markets plays an undeniable role in day trading day trading success. Day traders need to keep a close track of international news, economic events, market trends, and macroeconomic indicators. 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, it is important to remember that like any investment strategy, day trading does not guarantee profits and is subjected to market risks. Therefore, it requires careful analysis and vigilant consideration before investing.