Day trading, typically known as trading of securities throughout a single day, has become a prolific method of generating income in the financial world. Day traders often leverage the minute price movements in the financial markets to make revenues.

Before embarking on on the journey of day trading, one has to understand that it needs method. Lacking strategy, it is just akin to gambling, and the profits may not be sustainable. Successful day traders often employ various strategies, including swing trading, arbitrage, and scalping.

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

The swing trading method, on the other hand, is suitable for those who can spend a portion of their day monitoring the stock market. Swing traders make use read more of the swings in stock prices caused by economic reports and the general workings of the financial markets.

Arbitrage trading is about buying in one market and trading in another, profiting from a temporary difference in prices. It is generally considered risk-free for the investor.

Day traders also use several types of market analysis tools to predict which way the price is likely to move. Technical analysts look at price patterns and chart indicators to anticipate future price movement.

While day trading has the potential for substantial profits, it’s not without potential risks. Probably one of the most significant risks in day trading is its volatile nature. Share prices can ramp up or decrease rapidly, and it can be challenging to predict which way they’ll go.

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

Lastly, just like any other career, the key to success in day trading lies in educating oneself. Read as much as possible and stay updated with market developments. The more information you have, the greater your chances of making a successful trade.

In conclusion, day trading is a lucrative but risky venture. It requires significant commitment, knowledge, and strategy. With these in place, anyone can prosper in this game of numbers. Make time to educate yourself and develop an effective strategy, and watch your profits grow.