Day trading refers to a unique form of business transaction where investors trade financial instruments within the same trading day. This form of trading involves engaging in multiple trades every day, profiting from quick changes in the price.

People in the field of day trading use various methods to predict these price movements. These include technical analysis, which studies trade the day historical market trends, and fundamental analysis, which looks at a company’s financial health.

In this form of trading, the timing of trades is extremely crucial. Day traders have to be ready to quickly act upon changes in the market. Noticing trends and reading signals are the key to moving with success in day trading.

One of the benefits of day trading is the chance for quick returns. However, it is a hazardous kind of trading and requires a high degree of knowledge and skills. A couple of common risks in this kind of trading include hazardous price and market fluctuations and possible losses. Thus, it's crucial for traders to have a well-thought-out trading plan to manage these risks effectively.

Traders who are engaged in day trading generally use several tools and strategies to enhance their trading. Some of these are leveraged accounts, where traders take a loan for trading purposes, and automated trading systems, which utilize algorithm-based trading.

Getting a grip of the art of trading within a single day requires patience, discipline, and continuous learning. Also, it's crucial to keep emotions in check and make rational trading decisions. Remember, in the field of day trading, the pathway to success is not about maximizing profits with every transaction; it's about making consistent profits and gradually growing your trading account.

One day trading can be an exhilarating venture, but remember to be well-prepared. Keep yourself informed about the market dynamics, commit to continual learning and skill development, and possibly, you could unlock the secret to becoming a competent day trader.