Any daytrader should find the best day trading stock picks for his/her intra-day strategy.
The best way to find them is to do it yourself. When you are looking for your best intra-day trading stock picks then it is good to define some basic parameters that such market picks for day trading should have.
It can be quite easy to find a list of picks. Intra-day strategies based on momentum stocks are quite common and can utilize these day trading picks to generate profitable trades.
Hot stock picks free market screener
I would use FinViz free market screener. The first step is to define basic parameters for any day trading stock pick. I have mentioned that most volatile stocks suitable for daytrades are traded on the Nasdaq market. So I select Nasdaq as my exchange.
Another point is to define very liquid stocks only. This means they have a daily average trading volume above 1 million shares traded. This is an important condition as only these stocks could offer an easy way to enter or exit the trade without problems.
The third important parameter that should be set on the “Descriptive” page of FinViz free stock screener is price. I prefer to have shares with a price above 30USD so I put this condition there.
The final condition will be to look for volatile stocks. It can be a little tricky in current very volatile markets. Markets are now moving quickly up and down a lot and they are pushing a lot of low volatile stocks with them.
I would define this in the Beta parameter that can be found on the “technical” page of FinViz free market screener. I put value “over 1.5” but it is possible to play little bit with this value to see results.
Hot picks free stock screener results
When I put all these values into this screener I received several possible candidates for daytrading. Here is a list of these picks for day trading strategies.
You can check their charts directly on the FinViz site or export this list into your chart analysis software
or programs you use for intra-day trading. And there you can analyze them more.
FinViz alternative
If you are not satisfied with Finviz you can check the site ChartMill. The site offer quite useful screening feature.
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