Within the financial sector, day trading is a preferred tactic which is both rewarding and challenging. It involves buying and selling financial instruments within the same trading day. To succeed in day trading, an individual requires disciplined strategies and a comprehensive understanding of the market.

Day traders typically don't keep their positions overnight. This speculative trading strategy has the potential to generate significant profits but also comes with a high level of risk. Hence, a strategic and well-calculated approach is crucial.

A successful day trader must have multifarious skills which include strong discipline and quick decision-making. Furthermore, a deep market understanding, technical analysis skills, and sound judgement can boost any individual's efforts in day trading.

Day trading also comes with its set of challenges. Volatilities and unpredicted market shifts can often lead to substantial losses. Moreover, it demands considerable resources and time. Hence, before delving into day trading, it's pivotal to assess your financial goals, risk tolerance, and investment resources.

Various financial instruments are available for day trading. These include stocks, forex, futures, and options. Each instrument comes with its own set of benefits and drawbacks, so understanding your investment goals and risk tolerance is critical for picking the suitable trading instrument.

Having a concrete trading plan is of utmost importance in achieving success in day trading. The plan should include details like the financial instruments one intends to trade, the risk tolerance level, and the profit targets. Also, it helps to have risk management strategies like stop-loss orders incorporated into the trading plan.

Continuously monitoring the markets plays an undeniable role in day trading success. Keeping a close watch on international news, economic events, macroeconomic indicators, and market trends is essential for day traders. This constant vigilance can provide valuable insights into potential trading opportunities and risk elements.

While day trading might seem daunting initially, with perseverance, discipline, and effective risk management, it can act as day trading a lucrative 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.