Day trading, commonly known as trading of financial tools throughout a single day, has become a considerable method of generating income in the financial world. Day traders often take advantage of the minute price movements in the stock exchange to make revenues.

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

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

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

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

Day traders also utilize different market analysis tools to predict which way the more info price will move. Technical analysts analyze price patterns and chart indicators to foresee 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 set up an exit strategy. It's equally vital to diversify your portfolio and don't put all your eggs in one basket.

Lastly, just like any other job, the key to success in day trading lies in educating oneself. Read as much as possible and stay updated with market news. The more knowledge you have, the better your chances of making a lucrative trade.

To sum up, day trading is a lucrative but risky endeavor. It requires considerable commitment, a good grasp of 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 earnings grow.