It is agreed that day trading is not for everyone and significant risks are certainly involved. Various strategies for profiting in the short term as well as an in-depth understanding of the market workings are all needed. The professional day trader is a person who trades for a living, not just as a part-time hobby or for the “high” that gamblers get. This type of person is generally well-established in the trade field and has lots of knowledge and experience in the marketplace. Like any other profession, that are prerequisites to day trading. Knowledge and experience in the marketplace is needed for anyone who attempts day trading. Without it, or an understanding of the fundamentals, you will certainly loose money. Sufficient capital is also needed. Successful day traders use money that they can afford to loose. This eliminates emotion from their trading and also protects them from financial ruin. To capitalize effectively on intra-day price movements, a large amount of capital is often required. Strategy is the edge a trader needs over the rest of the market. Swing trading and arbitrage are just several strategies used and refined to they produce steady profits and also limit the losses.