Ever wondered how day traders nail stock selection on Finviz? Unveil the secrets to intraday success with our comprehensive guide. From volatility metrics to short-term catalysts, we’ve got your roadmap. Ready to elevate your day trading game? This guide is your key to precision, ensuring you capitalize on every intraday opportunity. Dive in and unlock the strategies that set the pros apart – your journey to day trading mastery starts here!
For day traders, the criteria for selecting stocks on Finviz can be more focused on intraday price movements, liquidity, and short-term catalysts. Here’s a general guideline for selecting values in each category:
- Volatility:
- Average True Range (ATR): Day traders often look for stocks with higher volatility to capitalize on short-term price movements. Consider stocks with ATR values higher than 1.5 or 2.
- Liquidity:
- Average Volume: Day traders need highly liquid stocks to ensure smooth order execution and minimize slippage. Consider stocks with an average daily volume in the millions, such as 2 million or more shares traded per day.
- Trend Analysis:
- Relative Strength (RS): Look for stocks with strong intraday relative strength, indicating that the stock is outperforming the broader market. Consider stocks with RS values above 70.
- Catalysts:
- Earnings Releases or Events: While day traders primarily focus on intraday price movements, certain events like earnings releases or important economic reports can act as catalysts. Filter for stocks with upcoming earnings or economic events.
- Relative Strength:
- RSI (Relative Strength Index): Day traders often use RSI to identify overbought or oversold conditions for short-term trading. Consider stocks with RSI values above 70 for potential overbought conditions and below 30 for potential oversold conditions.
- Fundamental Analysis:
- Earnings Per Share (EPS) Growth: For day trading, the focus is more on technical analysis. However, positive earnings growth can be considered a positive fundamental factor. Look for stocks with recent EPS growth.
Remember, these are general guidelines, and day trading involves high risk. Always perform thorough research and use risk management strategies. Additionally, market conditions can change, so adapt your criteria based on current market dynamics.
Before applying these criteria on Finviz or any other stock screener, make sure to familiarize yourself with the specific functionalities and data available on the platform. Also, continually refine and adjust your criteria based on your own trading experience and evolving market conditions.
