Within the financial sector, day trading is a preferred tactic that can be challenging yet rewarding. It involves buying and selling financial instruments within the same trading day. For success in day trading, an individual requires a clear understanding of the market and disciplined investment strategies.

In day trading, investors typically don't keep positions overnight. This speculative trading strategy can yield substantial profits but also comes with a high level of risk. Therefore, it requires a calculated and strategic approach.

The ability to possess a range of skills from quick decision-making abilities to intense discipline. Moreover, 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. Volatilities and unpredicted market shifts can result in significant losses. Additionally, it demands considerable resources and time. Thus, assessing your risk tolerance, financial goals, and available resources is critical before you venture into day trading.

Various financial instruments are available for day trading. From stocks and forex to futures and options, trade the day traders can choose what suits their trading style best. Each instrument comes with its own set of benefits and drawbacks, so understanding your investment goals and risk tolerance is critical to choose the right instrument for trading.

Having a concrete trading plan is of utmost importance 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. Incorporating risk management strategies such as stop-loss orders into the plan is also beneficial.

Continuously monitoring the markets plays an undeniable role in successful day trading. Day traders need to keep a close track of international news, economic events, market trends, and macroeconomic indicators. This constant vigilance can provide valuable insights into potential trading opportunities and risk elements.

Despite the initial challenges, with discipline, effective risk management, and patience, day trading could turn into a profitable investment strategy. However, remember that day trading, like any investment strategy, does not assure profits and is subject to market risks. Therefore, it requires careful analysis and vigilant consideration before investing.