Day trading happens to be an exciting way of making money in the financial markets. Traders who engage in day trading trade financial securities within a day's trade cycle in an attempt to secure quick profits.

Grasping day trading is paramount because it allows traders to make numerous trades in a day. They capitalize on small price movements resulting in rapid profits, reducing their exposure to risks associated with holding positions overnight.

Several factors drive the success of day trading. One, understanding the market is critical. To trade successfully, traders need to have a firm grasp of the market trends. Having a clear understanding of technical analysis and chart patterns makes it easier to identify potential trading opportunities.

Another key aspect, the traders must possess a solid trading plan. A trading plan provides a detailed framework of his or her buying and selling choices, helping to prevent ill-thought-out transactions. It also encompasses risk management strategies to minimize potential losses.

Another important aspect is the rigidity. Successful investors abide by their trading plans irrespective of market conditions, and they refuse to let emotions dictate their trading decisions. This stance minimizes the chances of making costly mistakes.

Although the potential for significant profits, day trading is not free from risks. These trading requires constant monitoring of market trends, and even small market changes can have a significant impact on returns.

In conclusion, day trading is a potentially profitable but challenging financial strategy. It requires a thorough understanding of the market, a solid trading plan, and strict discipline. With these factors at hand, one can decide to venture into the thrilling world of day trading, hopefully reaping significant rewards. However, potential risks associated should never be overlooked, as they could swiftly turn trade the day considerable profits into significant losses.