Within the financial sector, day trading is a preferred tactic that can be challenging yet rewarding. It involves buying and selling financial instruments in one single trading day. To succeed in day trading, an investor needs a clear understanding of the market and disciplined investment strategies.

In day trading, investors do not hold positions past the day's end. This speculative trading strategy can yield substantial profits but also carries a high degree of risk. Hence, a strategic and well-calculated approach is crucial.

A successful day trader must have a range of skills which include strong discipline and quick decision-making. Furthermore, command over technical analysis, sound judgement, and a deep understanding of market trends can boost any day trader.

Risks and challenges are synonymous with day trading. Market volatility and unpredicted shifts can result in significant losses. Additionally, day trading requires a significant investment of time and resources. Thus, assessing your risk tolerance, financial goals, and available resources is critical before you venture into day trading.

Various financial instruments are available for day trading. From stocks check here and forex to futures and options, traders can choose what suits their trading style best. Each instrument comes with its own set of benefits and drawbacks, thus having clear investment goals and understanding one's risk tolerance is fundamental to choose the right instrument for trading.

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. 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. 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.

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.