STOCKS Stocks and investment thread

Desert Flower

Staff Member
Hey guys! Any tips on how to invest as a beginner? What resources are out there that are halal? I don't want to get ripped off. Jazakhallah khayr.
 
Hey guys! Any tips on how to invest as a beginner? What resources are out there that are halal? I don't want to get ripped off. Jazakhallah khayr.
Open a TFSA(tax free savings account) if you already havent. You can invest in anything and all the profits you make are tax free. Canada allows you to deposit up to a certain amount each year but it accumulates every year if you don't use it starting from age 18. There are a few Islamic funds you can look into with decent returns.
 
Thanks. But when you say it accumulates every year, are you talking about interest? Because I am trying to avoid that as much as possible.
No I don't mean interest. You're allowed to deposit a certain amount into your TFSA account each year. If you don't then it just carries over to the next year. You can check your total if you have a cra online account.
 

Seviroth

oooh weee
I wonder if were going to see a market correction from the 2020 euphoria.

Its a good time to keep an eye out for low entries.
 

Apollo

Staff Member
Everyone and their mom are investing in crypto. I'm seeing cryptos that haven't been developed in at least a year resurfacing with new projects. It's best to stick to the market.

:kanyehmm:
I think bitcoin will go down as the biggest bubble in human history, eventually it will go to zero. Ride the waves, but don't trust this long-term.
 
I do a bit of day trading and short term trading, laakin with only about 2k. That's the amount I'm comfortable losing if everything goes wrong. I'm currently liquidated, but I'm waiting for a good entry point in $SLGG. It's an e-sports pennystock and has a history of bull runs preceding earnings. I'm looking at entering @ 1.73 a piece for about 1000 shares. I think it will get to 3.50. In the time I've spent trading equities, I've learned that it's most profitable to be a contrarian. When everyone's selling, buy and vice versa.
Wow, you were spot on with this stock. If you held until the 3.50 you predicted, you would've doubled your investment. This brother knows what he's talking about. :yousmart:

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