Single day trading, commonly known as trading of securities throughout a single day, has become a significant method of generating income in the financial world. Day traders often exploit the minute price movements in the here stock exchange to make profits.

Before embarking on on the journey of day trading, one has to comprehend that it needs plan. Absent a strategy, it is just like gambling, and the winnings may not be sustainable. Victorious day traders often use various strategies, including swing trading, arbitrage, and scalping.

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

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

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

Day traders also use different market analysis tools to anticipate which way the price will move. Technical analysts analyze price patterns and chart indicators to predict 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 unpredictable nature. Share prices can increase or decrease rapidly, and it can be challenging to predict which way they’ll go.

To mitigate such risks, all traders should create an exit strategy. It's additionally vital to diversify your portfolio and don't put all your eggs in one basket.

Lastly, just like any other profession, the key to success in day trading lies in learning. Read as much as possible and stay updated with market news. The more data you have, the greater your chances of making a profitable trade.

In conclusion, day trading is a rewarding but risky initiative. It requires significant commitment, strategy and understanding. With these in place, anyone can make a success in this game of numbers. Take the time to learn and build an effective strategy, and watch your returns grow.