Day trading, the act of buying and selling stock within the same day, is an exciting market for investors to get involved in. Investors can take advantage of small price moves to earn money. If played correctly, use this strategy to take advantage of small price moves to earn money. To be successful at this, though, traders must follow a well-thought-out strategy.

What Are the Best Day Trading Stocks?

It’s difficult to title any stock as the “best” day trading stock because not all traders use the same trading style and strategy; however, many traders tend to look for the following in day trading stocks:

• Tight spreads.
• Large volume.
• Heavy price movement.

A heavy price movement is key, because it is much easier to make a quick in-and-out profit on a stock that has a lot of movement. While it is is important to note that all stocks fluctuate, and the market is constantly changing, the following 10 day trade stock picks currently meet the three previously listed traits and are great choices for most day traders.

Day Trading Stocks: General Principles

1. Do Your Homework

While knowledge of basic trading procedures is essential for day trading, traders also need to do their homework and stay up to date on the latest news and events that could affect stock prices. Make a list of all the stocks you’re interested in trading, and stay informed about what’s going on with those companies as well as the market in general.

2. Decide How Much You Can Risk

Most day traders are willing to risk 1-2% of their account for each trade. If you have a $50,000 trading account and you’re willing to risk 0.05% on every trade, the maximum loss is going to be $250. Set aside extra funds for trading with, money that you’re willing to risk losing. Know that a loss may or may not happen.

3. Commit Your Time

Day trading is time consuming. To do it successfully, you need to follow the market throughout the day, and move quickly when you spot opportunities. This means you’ll need to be prepared to spend the majority of your day watching the market.

4. Start Small

If you’re just getting started with day trading, start by focusing on just one or two stocks. This will make it easier to monitor the market closely and spot opportunities when they arise.

In today’s market, it has become increasingly common to trade fractional shares. This means traders can choose specific dollar amounts they want to invest, even if it means not buying full shares. That means you could buy just $50 of a stock that sells for $250 per share.

5. Use Limit Orders

A limit order is a type of order to buy a stock at a specified price or better. Limit orders help investors trade with greater precision because you set the price for both buying and selling.

6. Timing is Important

Experienced traders who follow the market closely can often recognize patterns and successfully make trades as soon as the market opens. However, because many investors execute on their trades as soon as the market opens, pricing can be volatile in those first 15 or 20 minutes. If you’re new to day trading, you should seriously consider not making trades within the first 20 minutes. In fact, it’s best for beginners to stick to the middle hours of the day when the market is less volatile.

7. Be Realistic

Understand that you won’t win with every trade. In fact, many day traders only win half the time. The key, though, is that they make more on those wins than they lose when they aren’t successful with their picks. By limiting the risk of each trade, they protect themselves from heavy losses.

8. Follow a Strategy

Successful day traders have a strategy that they follow closely. This ensures they never let their emotions get the best of them, and helps them win in the long term.

The Top 10 Best Day Trading Stocks

1. SPY
2. WDLF
3. PIXY
4. BBIG
5. EEENF
6. RELI
7. TONR
8. BDSI
9. SBEV
10. LLNW

SPY

With the market volatility as of late, it isn’t uncommon for the SPY to move $3- $5 dollars during the intra-day action. A move that large can generate strong potential options moves. I like to look for potential trades starting around 10 am ET in which I would trade in the opposite direction of the first 30 minutes as investors look to change their trading sentiment. If the SPY was up in the first 30 minutes then I would look for a put trade, if it was down, then I would look for a call trade. I am also looking for trades starting around noon ET with the same concept, a change in market direction based off what happened the first 2.5 hours of the market.

WDLF

Announced record growth not that long ago and I now keep this stock on my radar for any major pullbacks in what has been a higher high and higher low daily chart pattern since the start of 2022. On strong volume days, I am looking for possible 15 to 20% moves intra-day here. If the trend continues, I am eying the 200 day moving average line on the daily chart at $.0057 as an eventual target.

PIXY

A stock with a 15% short of the float means a possible short squeeze play for me and I keep this on my radar on a fairly regular basis. Since 2022, PIXY has trading in a higher high and higher low daily chart pattern. They recently announced a launch of a robust NFT gamification loyalty program which is a hot area now. With over 40 million people moving through the metaverse every month, an increase in cybernetic tools, and positive sentiment around ghost kitchens, the Company has created an opportunity to elevate the restaurant industry and give rise to a new era of dining. With recent moves of 30 to 40% in a single trading day, PIXY is the perfect amount of volatility for me to stalk. I am watching to see if PIXY holds over $1 and potentially retests highs of $2 to $2.60 area.

BBIG

The same concept as PIXY with a 22.47% short float sets this up for a possible short squeeze play, offering big intraday swings. Recently BBIG ran from $2.00 area to over $5 in just 4 trading days based off a Cryptyde Rumor Launch. I am watching for a hold over $2 here with a possible squeeze back toward $4 or $5 on any new news.

EEENF

An oil exploration and appraisal company which recently saw a run from $.02 area to $.0325 in just under a month. With the XLE and energy sector trading hot and potentially more overseas oil volatility, I am watching for EEENF to hold $.022 200 day moving average line on the daily chart and potentially retest the $.04 highs from mid August of this past year.

RELI

Has been a monster runner from December of 2021 to early January of 2022. The stock ran from $1.85 to over $10 in less than a month. To me, this is a perfect stock to watch for large pullbacks and potential big recovery. With such a fall, RELI has a 15% short float currently which could cause a massive short squeeze on any new move higher. I am looking to see if RELI falls back into the $3 area to close the gap from late December, also potentially sucking in more short sellers for a rebound play back into the $5s to $7 range. RELI also recently completed a acquisition of Medigap health insurance company.

Crossover plays for swings and day trades:

• TONR
• BDSI
• SBEV
• LLNW

…because of their large swings.

Invest in the Best Day Trading Stocks

The concepts and guidelines followed to determine the best day trading stocks above are by no means universal. Every trader has his or her own opinion on investing and strategies. The more you trade, the more you can develop your own trading strategy and determine what principles you prefer to follow.

If you’re looking to earn a profit through day trading, you need to be ready to invest time and energy toward research and analytics. You can get started on this process by seeking help and guidance from experienced investors.

Stocks that can be purchased or sold for less than a dollar a share are called penny stocks. Investors who don’t mind the high risk associated with these low-cost stocks trade them in high volumes in hopes of earning big when the price unexpectedly skyrockets. If you want to get your feet wet when it comes to trading penny stocks, stock trading apps make it easy and convenient to learn more about this type of investment.

What Is the Best Penny Stock App for You?

When choosing the best penny stock app for your needs, the most important considerations include:

• The fees you’ll have to pay for each transaction, which can vary depending on your share trading volume. Fees typically range from just a few dollars to $20 or more.
• The number of different types of stocks available for trade. Some firms have limited availability when it comes to penny stocks and other over-the-counter markets.
• Robust customer support. You want to be able to reach a real representative at all times to avoid losing significant money on a trade that goes sideways because of an error.
• The speed of execution, which is critical if you plan to engage in day trading. Make sure the app you choose processes trades immediately.
• Whether the app works with your operating system. However, most current penny trading apps come in both iOS and Android versions.
• Ease of use. If the app is difficult to learn, it will make trading penny stocks a struggle.
• Deposit requirement. Ideally, the app you choose will not require a minimum deposit amount to start trading.
• Resources. Access to credible research through the app is a must for penny stocks, which tend to carry a much higher risk than traditional investments do.

If you’re ready to get started or take your penny stock trading strategy to the next level, try out the top eight penny stock trading apps recommended by industry experts.

1. Robinhood
2. Ally Invest
3. Interactive Brokers
4. TD Ameritrade
5. E-Trade
6. TradeStation
7. Fidelity
8. Charles Schwab

1. Robinhood

Margins and fees can add up quickly when trading penny stocks, so many investors consider Robinhood the best penny stock app because it offers trades without commissions or fees. This offers a great value for those trading low-cost stocks. Fans also like the ease of use, simple charts, and resources, which make Robinhood a smart selection for new penny stock investors.

However, over-the-counter and Pink Sheet stocks cannot be traded through this app, so choices are somewhat limited compared to the offerings on other good penny stock apps. Robinhood is currently available only for mobile, unlike some penny stock apps that also provide a web interface for desktop traders. You can download this app for both iOS and Android platforms. Take advantage of the subscription service, which costs $10 per month, to transfer $1,000 into your trading account and get started right away.

2. Ally Invest

The Ally Invest app is another way to trade penny stocks without accruing significant fees. Although each trade on this app costs $4.95, you can access the discounted price of $3.95 per trade when you conduct more than 30 transactions per quarter. This is one of the lowest flat fees you’ll find among the top penny stock trading apps. Fans of Ally Invest also appreciate the seamless, intuitive mobile experience and the easy-to-use tools and resources that make trading a breeze.

3. Interactive Brokers

Another low-cost penny stock trading app, Interactive Brokers gets high ratings for its variety of affordable trading plans. Choose from a tiered plan with discount commissions along with fees, which is a better plan for high-volume investors, or a fixed-rate plan in which you pay the same rate per share for every trade. This starts at .005 cents per share for orders beginning at $1, with a cap of 0.5% of the total value of the trade. Keep in mind, however, that these rates vary for international shares.

Investors also appreciate the wide variety of penny stocks available to trade on the Interactive Brokers app, with options ranging from foreign exchange to commodities and beyond. You can easily upgrade your trades using this simple yet robust online platform. An Amazon Alexa command even lets you trade using voice commands through your Interactive Brokers account.

4. TD Ameritrade

With a nearly 40-year brokerage history, many investors trust their funds to TD Ameritrade. You can trade penny stocks on either iOS or Android using a mobile app or jump on the standard website when you happen to be at your desk. A separate mobile app lets you monitor your investments with live video feeds, charts, and visual tools. The brand’s innovative Thinkorswim platform is available five days a week for 24 hours, featuring high-level trading tools that help you elevate your investments. You can also access advanced options such as one-cancels-the-other and bracket trades.

This broker charges a $6.95 flat fee for every trade, with no added fees and no minimum account balance required to trade. You can take advantage of customer support and trading 24 hours a day, seven days a week, which helps mitigate some of the risks associated with penny stocks. Both major exchanges and over-the-counter stocks are available through TD Ameritrade.

5. E-Trade

Download the OptionsHouse app from E-Trade for fast and easy penny stock trades. You can also opt for the full-service app if you want to manage your money and your trades through the same program. The latter option provides breaking news, extensive research, and streaming Bloomberg TV. The fee is $6.95 per trade, but it drops to $4.95 if you trade more than 30 times in a single quarter. Fans also like the wide variety of trading ladders and other technical indicators provided by this app.

6. TradeStation

This app is a favorite of those looking for low-cost transactions, thanks to its $5 stock trades and its high-end mobile app. Keep in mind that you will also be charged commissions and fees, including a $5 fee to access data related to over-the-counter stock trades. Another option is the per-share trade pricing, which can be as low as just .002 cents per share. This arrangement can work out well for high-volume traders.

7. Fidelity

Although Fidelity once charged $7.95 per trade, a recent price reduction to just $4.95 per trade earns them a second look. Fans of this brokerage also appreciate the easy-to-use mobile app, the detailed resources available on the website, and the ability to access cash right from the mobile app. Best of all, you can access customer support through text, email, or phone 24 hours a day, seven days a week.

Want more personalized support? You can actually stop by a branch near you to learn more about trading penny stocks and other investments with the Fidelity app. In fact, you have to talk about the risks of trading over the counter and pink sheet stocks before you can begin trading penny stocks on the app. Once you have this meeting, however, your trades in this realm are surcharge-free, and you can take advantage of some of the most diverse offerings of any penny stock trading app.

8. Charles Schwab

If you have a preference for a traditional online brokerage, but you want to trade penny stocks and other over-the-counter investments as well as pink sheet stocks, Charles Schwab is the firm for you. All transactions carry a flat commission fee of just $4.95. With exceptional customer service, you’ll usually be able to talk to a real person when you call for help. The mobile app is fast, intuitive, and frequently updated with innovative changes. You can also take advantage of Schwab’s desktop, web, and cloud-based trading applications.

Day trading isn’t easy, and even those who have already ventured into the realm may need some guidance from time to time. To help guide you through the investing process, there are a number of day trading books that can help aid you with such things as:

• Determining your risk management

• Understanding the psychology behind day trading

• Learning strategies that can help you improve your skills

• Performing technical analysis

The key now is tracking down and finding the best books that can lead you on the path for successful day trading. Below are some of the best books for day traders of all skill levels.

Best Books on Day Trading for Beginners

If you are new to the world of day trading, it’s crucial to find a book that is geared toward beginners. Getting books for more experienced traders can lead to frustration and confusion.

Below are some of the top recommended books for those just starting out in day trading.

1. A Beginner’s Guide To Day Trading Online

Written by author Toni Turner, “A Beginner’s Guide to Day Trading Online” is the perfect starter book for armchair investors adding day trading to their skill-set. Toni Turner is both an educator and an experienced trader who not only provides the readers with up-to-date information on industry developments, but also provides clear and concise direction on how to begin the day trading process.

The book includes an overview for determining your level of risk and how to perform proper risk management. It also provides a detailed guide to setting up a trading plan. To help make sure that you are understanding the content of the book, the author has included quizzes and checklists so you can stay on tasks and determine areas you may not quite be getting. You will also be provided with a glossary of terminology, so you can learn to talk the talk as well as walk the walk. The author walks you through the differences between short term and long term trading, as well as the benefits and risks involved with each.

2. Start Day Trading Now: A Quick And Easy Introduction To Making Money While Managing Your Risk

Experienced trader Micheal Sincere has compiled his knowledge on the technical aspects of day trading, to help new investors better understand and navigate the process more efficiently. The author breaks it down in an easy-to-read format that includes charts, patterns, and indicators, so you can see a visual representation of the information you are absorbing. Also included in the book is a step by step guide through the practicalities of embarking on that first trade. First-hand knowledge and information is presented to you through the words of other experienced traders through interviews. Learn about their successes and failures so that you can better avoid the pitfalls that come with day trading.

3. Day Trading For Dummies

The name says it all. This is the go-to book by Ann C Logue on how to get started with little to no knowledge of the day trading process. Even though the author is not an experienced trader, she provides the reader with an education in day trading that is invaluable.

“Day Trading for Dummies” is a great starting place for those who are looking to get a broader knowledge of the process and how the system works. You will find information about every day trading topic that you can think of, and this can be the ideal book to read before others, so you can have a handle on the terminology.

Best Day Trading Books for Strategy

Once you have developed a little experience in day trading and have made a few good first trades, you may want to look into books that delve more deeply into day trading strategies. Below are strategy books that are the perfect accompaniment to your collection.

1. The Disciplined Trader: Developing Winning Attitudes

A winning attitude is a crucial first step when getting more seriously into the realm of day trading, but author Mark Douglas teaches you more than just how to get the attitude you need. This book not only focuses on risk management and appropriate trading strategies, but also delves into the psychology behind these strategies, and what makes them successes or failures. He also provides the reader with a number of tips on how to get in the day trading mindset that propels you from novice to experienced.

2. Mastering The Trade

If you are looking for a more detailed direction on strategy development and setting up trades, then John Carter’s “Mastering the Trade” is a must-read. He breaks down different strategies for use in a wide range of markets in a way that is easy to comprehend and follow no matter your level of investing experience. The book is also popular for those looking into how day trading psychology works, and it is extremely relatable by providing real-life examples to illustrate its points.

3. The Simple Strategy

Markus Heitkotter helps break trading strategy down in an easy-to-understand format. His book is widely touted as the top book for those looking for information on day trading in forex and options. Its praise is well earned, as you will be given detailed and clear instructions about the various entry and exit rules you should follow. He also advises his readers on small intraday trading and software programs that are essential to giving you the best chance of success. The light-hearted and reader-engaging format makes it easy to read as well as enjoyable.

4. Range Trading

If you are looking for a book that hones in on day trading strategy, then “Range Trading” by Micheal Young is the book to add to your collection. He delves deeply into more complex strategies such as scalping struggle, and discusses how it can be utilized to overcome high intraday fees and costs. He also focuses on range trading, which is an alternative strategy that can lead to more successful day trading. He breaks down these complex systems and puts them into easy-to-follow language that makes it more accessible for various levels of traders.

The Best Day Trading Books

For traders looking for more well-rounded books that delve into everything from strategies to risk management to planning, below are some of the most popular books on the whole day trading process.

1. High Probability Trading: Take the Steps to Become a Successful Trader

Marcel Link centers his work on the premise of making trades in situations where the odds are in your favor. You will be provided with a detailed guide on what to look for, what to trade, for how much, and exactly how to set up each trade. The author plays off of his years of extensive experience navigating the market through the use of a trial-and-error approach. He uses his successes and failures, delivered to the reader candidly, to help you avoid missteps that he made, and to achieve a successful day trading experience.

2. The Truth About Day Trading Stocks

If you are looking for a book that provides you with a get-rich scheme, then keep on browsing. In “The Truth About Day Trading Stocks,” author Josh DiPetrio offers an honest look at the benefits and dangers of day trading. He instructs you not only on all of the potential dangers that you may encounter, but also provides you with actionable advice on how to manage or mitigate them. He doesn’t sugarcoat the scenarios, and by the end of the book, you will enjoy his honesty and candid discussions.

3. Digital Day Trading

If you are looking for one of the top books involving day trading psychology, then “Digital Day Trading” by Howard Abell is a book you should have on your shelf. This book is good for both beginners and more experienced traders, as it is easy to follow and leaves out much of the fluff and fanfare that other books may include. No word is wasted, and at the conclusion, you will have a better understanding of the day trading process, market philosophy, and even day trading psychology. The book is packed with useful tips and advice in the form of interviews from successful and experienced day traders.

4. Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves

Author Kathy Lien takes a more technical focus to day trading, providing readers with insight in how to conduct an accurate and effective analysis of the market, and using that analysis to manage your trade decisions. The author is more than qualified as she is one of the most highly experienced and widely recognized analysts in the forex realm. You are likely to have seen her on either CNN or Bloomberg. She also provides you with her own trade ideas. This is definitely one of the top forex books.

Best Advanced Day Trading Books

If you’re looking for a book with more in-depth, advanced trading strategies, there are many you can turn to. Here are some that we believe are comprehensive and easy to understand.

1. The Stock Trader: How I Make a Living Trading Stocks by Tony Oz

This book is a must-read because of how easy it is to apply the strategies the author describes in the book. He gives a number of detailed strategies that cover entry and exit points, patterns to identify, and charts to use as well as other indicators.

2. Trading in the Zone by Mark Douglas

In this book, Douglas focuses on the psychology of trading, and the steps you need to take to think like a great trader. Trading requires mental toughness, and in this book, Douglas delves into the mindset of a trader, teaches you how to gain confidence, and shares how you can take responsibility for your failures.

Your emotions can get in the way of your ability to think objectively, causing you to lose money. This book helps you overcome those limitations to become a better, more confident trader.

3. The Art and Science of Technical Analysis by Adam Grimes

This book focuses on how you can develop an edge in the stock market through testing and analysis, while using price action as confirmation. The author goes into depth about trends in trading and ranges, and he provides detailed examples to show you how his strategies work. The last part covers the psychology of being a successful trader and the steps you should take to make sure you’re on the right path.