In its most basic form, day trading is the practice of buying and trading financial products, including stocks and commodities, within one trading day.
Successful day trading requires an in-depth knowledge of the market and effective use of different trading strategies.
It should also be pointed out that day trading carries significant risk, and hefty financial losses are a possibility.
Nevertheless, with careful planning and strategy, successful day trading is achievable.
One often-used strategy in day trading is scalping, where small price variations are exploited for profit.
Range trading is another method where traders purchase at the lower end of a price range and sell at the peak.
Another prevalent strategy is trend trade the day trading, where traders try to gain profits by examining an asset's momentum towards a particular direction.
To conclude, day trading can yield significant profits if one understands the market profoundly and knows how to apply different trading strategies.
Remember, day trading requires patience, planning, and a good understanding of financial risk.