Best day trading stocks: Best Stocks For Day Trading US & Canadian Updated Weekly

When done right, the short-term gains can balloon into considerable wealth that could set you up for life. However, day trading is not a get-rich-quick scheme that will change your life overnight. You’re looking to build a portfolio that can provide you with long-term results but also short-term gains. Electric vehicle maker Nio, based in Shanghai, China, has a beta of 2.00, making it exactly twice as volatile as the S&P 500. The company’s average trading volume is 44 million shares, and it has 1.797 billion shares outstanding. The best day trading stocks feature significant volatility and substantial volume to drive daily price actions.

In the case of a triangle pattern, a stop-loss order can be placed $0.02 below a recent swing low if buying a breakout, or $0.02 below the pattern. Together, they can give you a sense of orders executed in real time. Day trading takes a lot of practice and know-how and there are several factors that can make it challenging. Earmark a surplus amount of funds you can trade with and are prepared to lose. Going global will give you access to foreign stocks and potentially cheaper alternatives. Idil is a writer with interests ranging from arts and politics to history and finance.

You’ll need to get a head start on the trading day, so it’s a good idea to time yourself according to market openings. Day trading is a set of trading techniques where a trader buys and sells multiple times in the market over the course of a day to exploit volatility and trends in the asset’s intraday price. Day trading involves placing frequent trades for highly volatile stocks, and this can be, and most of the time is, incredibly hard to navigate.

Is Technical Analysis or Fundamental Analysis More Appropriate for Day Trading?

Once you’ve mastered your trading strategy, you could be in for a world of money. The best day trading stocks come from a variety of industries. The more variety you have, the more diversity you can add to your portfolio.

First, know that you’re going up against professionals whose careers revolve around trading. These people have access to the best technology and connections in the industry. If you jump on the bandwagon, it usually means more profits for them. Limit orders can help you trade with more precision and confidence because you set the price at which your order should be executed.

Infact it has been titled one of the best meme stock of 2023. The company is unable to generate profits but with government support and a highly developed EV industry within China, attracts investor attention. Established in 2005, Etsy Inc. is a fast-growing e-commerce company primarily dealing with handmade products. Etsy Inc. offers a wide range of products such as bags, jewelry, clothing, home decoration, furniture, and many more.

No one can predict what the future holds for this meme stock but the current year has been full of positive surprises for the company and an excellent investment for investors. With the government shifting its focus towards a greener environment, electric vehicles cars are increasing in demand. With the company increasing its investment and innovation within the electric vehicles industry, Tesla is one of the best day trading stocks to invest in today. NIO is working closely with its partners to improve the overall supply chain production capacity. With the EV industry reaching its peaking, NIO is speeding up its production to cope up with the demand and is one of the trending stocks today.

Meta Platforms Inc.

However, staying updated with recent developments help traders understand the market sentiment. Technical analysis can be more appropriate for day trading. That’s because it can help a trader to identify the short-term trading patterns and trends that are essential for day trading.

A whopping 33 analysts rate the stock as a buy; the valuation is expected to climb up to $15.34 with an increase of 38.82% from the latest price. Headquartered in Las Vegas, Nevada, Marathon Digital Holdings operates a mining facility for cryptocurrencies. In January 2023, they produced a record of 687 BTC – a 45% increase from last month’s 475 BTC. The company has less than 1 year of cash runway; in order to cover some of its ongoing costs the management decided to sell some of its bitcoin assets.

Meta is the world’s largest online social network, with 2.5 billion monthly active users. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos. On the video side, the firm is in the process of building a library of premium content and monetizing it via ads or subscription revenue. The firm’s ecosystem consists mainly of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products.

This is a measure of the daily price range—the range in which a day trader operates. More volatility means greater potential for profit or loss. More sophisticated and experienced day traders may employ the use of options strategies to hedge their positions as well. Interactive Brokers and Webull are two recommended online brokers for day traders.

Like most types of trading, day trading requires no formal certification or training. You’re good to go with a basic understanding of the stock market setup, a laptop and an internet connection. Benzinga advises that you conduct constructive market research before diving in. You can choose to open a margin account, you might choose to work as a pattern day trader or you could use a traditional brokerage account. In any event, your trading activity should be confined to that day so that you can turn a predictable profit using these assets. If you get to know Yeti stock well enough, you could potentially buy it at the day’s lowest price and sell at the day’s highest price.

The best day trading stocks to suit all types of traders

The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage. Currently at a market valuation of $24 billion, AMC share is trading at $47. Trading at a price of $2 at the start of the year 2021, the stock has shown a staggering improvement of over 2000% in less than a year. The stock of Tesla is on a bullish journey since last year. It has risen from a price of $95 at the start of 2020 exhibiting an astounding 700% increase in share price in less than two years.

While some stocks can deliver substantial price action on the intraday chart, others cannot. The former category of stocks is known as day trading stocks. They are the ideal investment vehicle for investors who want to make a living on the stock market as day traders. At the same time, that does not mean that every investment will last forever and that day traders don’t also exit positions when they are no longer profitable or wise. Marathon Digital Holdings‘ beta of 5.15 may make it too volatile for all but the most experienced day traders. It’s also very active, with an average trading volume of 17 million shares, out of 118 million outstanding.

Read on to find out about some basic tips for general stock selection as a day trader. Exclusive Perks – Active day traders can access lower commissions, tighter stop-loss orders, and increased leverage. All of which serves to minimize risk exposure and increase profit greatly. For ideas on how to trade the stocks listed on this page, see How to Day Trade Stocks with a Trend Strategy. The article provides more details on day trading in general, stop losses, position sizing, when not to trade, and a number of entry and exit methods.

Probably search “how to trade cheap volatile stocks” or something like that. That search will actually produce a number of articles by me on various sites, since I like to trade volatile stocks. You can get ideas on how to trade from this page, or from those articles.