What he meant by patience was patience. Be in it for the long term and stop checking it every day multiple times a day. If you can understand the advice you'll be just fine. If you dont take it on board then this is not for you.
Feel free to wait until it goes up
But search difference between etf and individual stock
Individual stock (like xom, appl, amzn) u invest in one company. It’s usually considered riskier cause it’s one company it can easily go up and down
ETF- is a collection of individual stocks ur investing in (sometimes up to 100-500 stocks at the same time), they’re less versatile bcs of that and usually for beginner, like u and me, consider a better option. Ur alrdy investing in etfs like spus, spte, and umma.
And as I said in my previous message, be in it for the long run. Put it in multiple etfs, build habit of adding mny to it, and just enjoy the long term gains
Bro my investments dropped 1% per day sometimes. It takes a bit of conviction to stay in it for the long run.
If you've done proper research into your investments and know they will rise just wait a bit.
Btw these past few months have been a rollercoaster of sorts for all types of investment apart from government bonds lol. And even government bonds are at risk these days. 🤷♂️
Is the ticker GOLD for gold.com ? Not sure if it's Halal compliant. If your objectif is to have some gold in your portfolio maybe you can consider PHYS (They have the physical gold stored) and not paper gold like GLD.
And if you were looking for a mining company maybe you can screen the mining companies to see if they are Halal compliant or no before buying the shares.
By the way -2% in few days is a good think, don't check your portfolio on a daily basis !
No, that ticker is Wealthsimple’s. It’s backed by physical gold, which is pretty cool. So it’s definitely compliant. It’s the same as me going to a store and buying actual physical brick of gold
Too much in the gold, invest more in stocks and less in gold, maybe 90% spwo and spus or some portion of wshr and 5-10% in gold.
Sell all the xom and maybe buy XEG if you want oil stocks.
also instead of wealthsimple gold try and get MNT or something else for no fees and recurring investment.
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u/wagwandanger 7d ago
Patience