There are 2 main ways to invest:
- Buy and sell pieces of paper. You ignore the underlying business and transact based on market sentiments.
- Buy and sell part ownership of businesses. You believe that the stock has an underlying business and the stock price should reflect the business value. So if you see a situation where the price is under valuing the company, you buy.
It is not clear whether your highest growing stock refer to daily price changes or business growth. Business growth does not change daily so effectively you will be buying and selling the same stocks. So I think you are referring to price changes.
If you buy just the top 10 stocks with the largest price increase for the day, you are buying based on the former approach. Your success here depends on how well you can read market sentiments. If you sync your buying and selling with market sentiments and is good at it, you may have a chance to make money.
The problem with buying the top 10 best price increase for the day is that you can only judge the highest price increase towards the end of the day. How can you tell which will be the best price increase at the start of the day? If you rely on yesterday’s performance, you are assuming that market sentiments remain the same. That is fine if you are reading market sentiments. But if you are merely doing this as a fixed rule, there is no logic for it to work.