Day trading is a popular investment strategy that can be challenging yet rewarding. This strategy revolves around trading various financial instruments within the same trading day. For success in day trading, an investor requires disciplined strategies and a comprehensive understanding of the market.

In day trading, investors typically don't keep their positions overnight. This speculative trading strategy can yield substantial profits but day trading 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 from quick decision-making abilities to intense discipline. Furthermore, command over technical analysis, sound judgement, and a deep understanding of market trends can boost any individual's efforts in day trading.

Day trading also comes with its set of challenges. Market volatility and unpredicted shifts can result in significant losses. Moreover, it demands considerable resources and time. Hence, before delving into day trading, it's pivotal to assess your financial goals, risk tolerance, and investment resources.

The world of day trading offers a plethora of financial instruments. These include stocks, forex, futures, and options. Each instrument comes with its own set of benefits and drawbacks, so understanding your investment goals and risk tolerance is critical for picking the suitable trading instrument.

Having a concrete trading plan is paramount in achieving success 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 inevitable role in day trading success. Keeping a close watch on international news, economic events, macroeconomic indicators, and market trends is essential for day traders. Such monitoring equips traders with insights into potential trading opportunities and risk factors.

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.