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

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.

Now, you can assess whether the potential strategy fits within your risk limit. If the strategy exposes you to too much risk, you need to alter it in some way to reduce the risk. There are many candlestick setups a day trader can look for to find an entry point.

What is the best platform for day trading?

I read your article on how to day trade stocks and I would like to give it a short. 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.

Crypto traders will be wowed by TradeStation’s web-based crypto platform. The platform is among the few that allows forex trading in the US, and grants exposure to over 80 major, minor, and exotic currency pairing. With a smaller market cap than many companies on this list, Etsy’s average trading volume is about 3 million shares, out of the 126 million shares the company has outstanding.

NIO is a Chinese multinational automobile manufacturer, specializing in designing and developing electric vehicles. The company has gained a huge market share in its local market due to huge support from the government. Moreover, the low price of NIO cars makes it an even more attractive buy in comparison to competitors like Tesla.

Can You Get Rich Off Penny Stocks?

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. You’re probably looking for deals and low prices but stay away from penny stocks. These stocks are often illiquid and the chances of hitting the jackpot with them are often bleak.

And a mere positive or negative speculation arising from news can cause the price to move significantly, making it one of the best stocks to buy for day trading. Most brokers charge commissions and/or per-contract fees on options trades. If you day trade options, those commissions can pile up quickly.

Experienced, skilled professional traders with deep pockets are usually able to surmount these challenges. Just like everything else in your financial life, the stocks you choose for your day trading strategy should be tailored to your goals and your personal situation. Losing Too Much Too Quickly – Losses can and possibly will mount quite quickly, especially for those trading with a margin account.

US Securities and Exchanges Commission defines traders that place more than five trades within a day as ‘pattern traders’, and pattern traders are required to have a $25,000 minimum in their account. If the balance ever drops below, they are not allowed to place more trades until a new deposit has been made. The company remains unprofitable with a debt of $7 billion despite the strength of oil prices in the current climate.

You must have at least $25,000 in your brokerage account to qualify for pattern day trading. Trend trading refers to the general direction of a stock’s share price. The price could be continuously moving up or down, signifying an uptrend or downtrend. It could also move up and then down, showing a sideways trend. Trends can change, too, so it’s not the only way to analyze a stock or ETF.

Can day traders get rich?

As part of our annual review process, all brokers were given the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting. In order to assess the overall day trading experience, we test across a wide range of Apple, Windows, and Android devices and/or operating systems. All of our testing uses current operating systems and high-quality devices. Elliott Wave Forecast is a leading technical analysis firm helping traders around the world make smarter trading decisions. Daily coverage of Stocks, ETFs, Indices, Forex, Commodities, Bonds & Cryptocurrencies.

With the exponential growth in its stock price and the volatile nature of the stock, makes Twilio is an excellent Day trading stock. More sophisticated and experienced day traders may employ the use of options strategies to hedge their positions as well. Assess and commit to the amount of capital you’re willing to risk on each trade.

Whenever you hit this point, exit your trade and take the rest of the day off. However you decide to exit your trades, the exit criteria must be specific enough to be testable and repeatable. Set a mental stop-loss order at the point where your entry criteria would be violated. If the trade takes an unexpected turn, you’ll immediately exit your position.

Other Best Stocks to Look for Day Trading

Karen Doyle is a personal finance writer with over 20 years’ experience writing about investments, money management and financial planning. Her work has appeared on numerous news and finance websites including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC, Equifax.com, and more. For this scan, I only select stocks with average volume over 1M, a price above $8, and that move at least 3% per day. Even the stocks below are pretty low volume for day trading.

We follow a select group of hedge funds because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns. Hi Cory, I absolutely love your content and follow it daily and weekly. I’m on the West Coast and do I have to get up so early for the start of the market for effective day trading on some of the names that you point out that have high intraday volatility? Ideally I could start at perhaps 8 AM Pacific which would be 11 Eastern or something more reasonable. Or am I just dead in the water with trying to also get some sleep and day trade effectively during the best time? For our 2023 Review, we tested and scored 17 online brokers.

It’s not always easy for beginners to implement basic strategies like cutting losses or letting profits run. What’s more, it’s difficult to stick to one’s trading discipline in the face of challenges such as market volatility or significant losses. Making money consistently from day trading requires a combination of many skills and attributes—knowledge, experience, discipline, mental fortitude, and trading acumen. Day trading requires a trader to track the markets and spot opportunities that can arise at any time during trading hours. Day traders often look at liquidity, volatility, and volume when deciding what stocks to buy. Bank of America’s trading volume is high, making it a relatively liquid stock.