Many individuals embrace day trading as a means of livelihood, although it requires placing significant time and effort.

The main principle behind day trading is that it involves purchasing and selling stocks within one business day. It can be both exciting and stressful, depending on a trader's skill level and experience.

Having a concrete trading strategy is crucial in day trading. If a comprehensive strategy is lacking, traders may find themselves making precipitous decisions, day trading which could lead to overwhelming losses.

Day traders can adopt several strategies like scalping, swing trading, and arbitrage to maximize their profits. It's essential for traders to choose a strategy that aligns with their goals, trading style, and risk appetite.

To excel in day trading, an investor must stay up to date with market indicators and any promising or thunderous news that may impact their trades.

Grasping the psychology of trading is equally critical as it helps in negotiating the emotional twists and turns that accompanies the uncertainties of day trading.

In summation, day trading can lead to substantial financial gains if tackled with strategic planning and disciplined action. However, it's not suitable for everyone- it calls for unbroken learning and capabilities to cope with financial risks.