DAY Trading in Stock market is Halal or Haram please need help

[Waqas85]

Dear all,

Aslam o alaikum.....

Now days i m working as accounts.... But i m planning to do Stock Trading like Day or swing trading... As we are overseas person can't do any business in pakistan. Coz i have 0 PR in pak. So i have good skills in Stock market.

And i wanted to be a Day trading or swing trader in US market. And i do not go for options as i have heard it is haram. I love to go for straight buy or short sell by my own money not even using broker account as it charge interest on it.

So please help on this... And if someone is already having in this business we can share ideas knowledge as well...

Good to hear from all of you ...

Warm Regards,
Waqas

 

[Vitamin_C]

​Day trading is based purely on speculation. You are buying something not because you hope that it will generate a steady stream of revenue for you, but you are buying something in hopes of somebody else paying you much more money for the stocks that you bought.
I do not see how it is haram to buy something in hopes of reselling it at a higher price. Many day traders know what they are doing and in that case it wont be gambling because it requires skills as well. In the same sense people buy and keep Gold, Gold yields no steady return like rent or something so buying and keeping stocks for a few min seems to be the same type of activity...

 

[Waqas85]

Thanx for reply dear

Yes that wat i thing. Obvsly if you buy something for trading your target is to sell it at high price. It will be your car, any product etc etc....
Once we buy or short all Profit and loss belongs to us...

​Day trading is based purely on speculation. You are buying something not because you hope that it will generate a steady stream of revenue for you, but you are buying something in hopes of somebody else paying you much more money for the stocks that you bought.
I do not see how it is haram to buy something in hopes of reselling it at a higher price. Many day traders know what they are doing and in that case it wont be gambling because it requires skills as well. In the same sense people buy and keep Gold, Gold yields no steady return like rent or something so buying and keeping stocks for a few min seems to be the same type of activity...

 

[swing]

@Waqas85
sir yeh siasi forums hain.kisi theek jaga se information lay warna excuses dhondnay kay leye insan ka apna dimagh kafi hai

 

[PUNJABIMUNDANO1]

Thanx for reply dear

Yes that wat i thing. Obvsly if you buy something for trading your target is to sell it at high price. It will be your car, any product etc etc....
Once we buy or short all Profit and loss belongs to us...

Alcohol , gambling , stone alters and diving arrows are not forbidden in Quran but it is told that these things are not good for you so its better to avoid these things . (these things are defilements but not sins )

O you who have believed, indeed, intoxicants, gambling, stone alters, and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.
​

(Surat V, 90).

 

[Waqas85]

Brother i m already trying to catch each and every forum to get maximum information regarding this.... but one thing i do want to let know which always pple shared with me.

When you buy a car for sale purpose what is your target.... obvly would be to get maximum profit right. But what if any state reduce car prices and you will face loss in it.....

 

[PUNJABIMUNDANO1]

Brother i m already trying to catch each and every forum to get maximum information regarding this.... but one thing i do want to let know which always pple shared with me.

When you buy a car for sale purpose what is your target.... obvly would be to get maximum profit right. But what if any state reduce car prices and you will face loss in it.....

They ask you about wine and gambling. Say, In them is great sin and benefit for people. But their sin is greater than their benefit." And they ask you what they should spend. Say, "The excess [beyond needs]. Thus Allah makes clear to you the verses [of revelation] that you might give thought.
​

(Surat II, 219)


Satan only wants to cause between you animosity and hatred through intoxicants and gambling and to avert you from the remembrance of Allah and from prayer. So will you not desist? (Quran, S 5 : 92)


These things are defilements and detestable in excess but not forbidden by Allah in Quran ... But at the same time Quran say in moderation these things can also be beneficial for people but its better to avoid them ... God left them it on your will , and just guided u and asked you to use your brain too

 

[Jamal1]

Waqas Bahi, "I believe" u had posted a few weeks back something like lets share ideas and something like, can anyone do like group study sort of thing to learn about stocks.

Qibla, What Swing has advised is absolutely right, you should ask from the right place, but since it seems that haven't gone through the trouble of simply googling your question i have posted many links below for your reference.

Just a friendly word of advise. Islam is not what someone (weather its someone on a forum or on the bus) advises you. That is the fundamental problem with everyone these days. Non Muslims get their information or should I say the delusion of information from FOX news and Muslims like us will never research but rather look for easy and quick answers from places where people advising us have no detailed idea themselves.
Having said that i m no different.

Any ways, according to my information its haram. Again, according to my information/ knowledge, Islam tells us to be involved in real trade: meaning trade in buying and selling something that is tangible. In the light of that definition, Stocks are in-tangible assets as you do not receive any tangible goods in your hand . Plus, majority of US companies if not ALL of them are involved in Interest (bonds or loans), and you must know that riba is haram.

https://www.google.com/search?sclient=psy-ab&btnG=Search&q=is+stock+trading+halal
http://islam.stackexchange.com/questions/121/is-investing-on-stock-market-haram
http://www.islamhelpline.net/node/3407
http://www.onislam.net/english/ask-...sactions-and-contracts/174476.html?Contracts=

 

[Waqas85]

Thanks bro apart from this forum tomorow i m going to discuss with the Mufti in UAE as well regarding this. Because before taking consideration of this business i will go each and every corner to get maximum knowledge. Yes indeed, unfortunately we are far behind in islamic study. We study alote about our professional education but never use to give time to our Akhirah education.

I m really sorry for posting this thread here, as it is not the good forum to share with. But it really matters me alote to get information. Becoz i m planning my future on the basis of this. I want to quite job and do this as professionally. Last week one of my office colleague died in front of my eyes due to brain stroke(Most pple in UAE suffering with this issue). I m also in shocked of this, So immediately i planned this to do my own work don't want to spend my whole life like work, depression etc etc.

 

[Jamal1]

Bahi no need to be sorry. App information ley loo. Im pretty sure its haram but please do your due diligence.

Allah swt hum sub ko sedha rasta dekahey.

And a brotherly advise, do not quit your job until what ever u do on the side, one you understand it completely, and are making enough to easily make the transition.
Please read the last line again cuz its very very important or you will end up losing big time.

I have seen a lot of people who had come to me looking for alternate means of income, especially when they are under pressure/ shock or in panic mode. Never ever make important decisions in such circumstances. This is also important.

Do what you decide but be cool and relaxed about everything when making this important decision.

I pray for you and every brother and sister, that ALLAH swt shows us the right path and gives all a lot success in here and afterlife.

Thanks bro apart from this forum tomorow i m going to discuss with the Mufti in UAE as well regarding this. Because before taking consideration of this business i will go each and every corner to get maximum knowledge. Yes indeed, unfortunately we are far behind in islamic study. We study alote about our professional education but never use to give time to our Akhirah education.

I m really sorry for posting this thread here, as it is not the good forum to share with. But it really matters me alote to get information. Becoz i m planning my future on the basis of this. I want to quite job and do this as professionally. Last week one of my office colleague died in front of my eyes due to brain stroke(Most pple in UAE suffering with this issue). I m also in shocked of this, So immediately i planned this to do my own work don't want to spend my whole life like work, depression etc etc.

 

[jee_nee_us]

Alcohol , gambling , stone alters and diving arrows are not forbidden in Quran but it is told that these things are not good for you so its better to avoid these things . (these things are defilements but not sins )

O you who have believed, indeed, intoxicants, gambling, stone alters, and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.
​

(Surat V, 90).

These are sins brother

يَسْأَلُونَكَ عَنِ الْخَمْرِ وَالْمَيْسِرِ قُلْ فِيهِمَا إِثْمٌ كَبِيرٌ وَمَنَافِعُ لِلنَّاسِ وَإِثْمُهُمَآ أَكْبَرُ مِن نَّفْعِهِمَا وَيَسْأَلُونَكَ مَاذَا يُنفِقُونَ قُلِ الْعَفْوَ كَذَلِكَ يُبيِّنُ اللّهُ لَكُمُ الآيَاتِ لَعَلَّكُمْ تَتَفَكَّرُونَ
They ask you about intoxicants and games of chance. Say: In both of them there is a great sin and means of profit for men, and their sin is greater than their profit. And they ask you as to what they should spend. Say: What you can spare. Thus does Allah make clear to you the communications, that you may ponder
​

 

[kkkkk]

In reality, the stock market dealings are not any better than a Casino. Theory may justify with whatever logic or arguments.

 

[PUNJABIMUNDANO1]

These are sins brother

يَسْأَلُونَكَ عَنِ الْخَمْرِ وَالْمَيْسِرِ قُلْ فِيهِمَا إِثْمٌ كَبِيرٌ وَمَنَافِعُ لِلنَّاسِ وَإِثْمُهُمَآ أَكْبَرُ مِن نَّفْعِهِمَا وَيَسْأَلُونَكَ مَاذَا يُنفِقُونَ قُلِ الْعَفْوَ كَذَلِكَ يُبيِّنُ اللّهُ لَكُمُ الآيَاتِ لَعَلَّكُمْ تَتَفَكَّرُونَ
They ask you about intoxicants and games of chance. Say: In both of them there is a great sin and means of profit for men, and their sin is greater than their profit. And they ask you as to what they should spend. Say: What you can spare. Thus does Allah make clear to you the communications, that you may ponder
​

I have already shared this Aya in my posts ..... I think you did not read my posts

And plz will you explain this aya and all the other Ayas about this subject

Quran only suggests Muslims do not do these things and especially in excess and these things lead to sins but never forbidden these things , decision is left on your thought process

If you think these things will lead you to sins and you are weak minded person then refrain from these things
but if you think you can control your internal demons then you can do these things

This is Quranic view that I expressed and Quranist Muslims do not follow hadiths .... But different sects have their own hadiths and they make their own Halal and Harams despite God's words

Islamic Shariya is closely related to Jewsih Shariya
In Tohrah , It is also asked people to refrain from intoxicants but at the same intoxicants are allowed too

Hence Jewish Shariya allows Alcoholism in moderation and describes its excess as evil

 

[Jamal1]

Bahi please give me ANY good reason for consumption of alcohol, ANY ?
A Bengali friend of mine once said red wine is good for heart, 2-3 year back a research came out that suggest that red wine is worst then smoking cigrates
Now who would you believe in, the word of ALLAH swt or some stupid scientist who says one thing today and another tomorrow

How would one decide who is weak minded and who is not, IF you were to ask me I will tell i m the most genius person who ever lived, just kidding. But how do you suggest one will control the inner demons while intoxicated. Look around you what good do drugs do and how effective are those people who take drugs.

Some one once asked me is lying ok when conducting business, i was very young at the time, I said a little bit is ok. then he asked me how much is little bit, i said 2-3 lies is fine. Then he said what if i lie all day and say i lie a little bit, how do u define little bit. You cant, its relative to every one. I might feel bad after 3rd lie while some one wont feel bad after lieing all day long. If you get the idea same goes for your question about moderation.
Whats wrong is wrong, chaheyy kaan idhar sy pakro ya udhaar sy, if its wrong it will always be wrong. Of course until u find an excuse to justify ur action then everything is right.

I have already shared this Aya in my posts ..... I think you did not read my posts

And plz will you explain this aya and all the other Ayas about this subject

Quran only suggests Muslims do not do these things and especially in excess and these things lead to sins but never forbidden these things , decision is left on your thought process

If you think these things will lead you to sins and you are weak minded person then refrain from these things
but if you think you can control your internal demons then you can do these things

This is Quranic view that I expressed and Quranist Muslims do not follow hadiths .... But different sects have their own hadiths and they make their own Halal and Harams despite God's words

Islamic Shariya is closely related to Jewsih Shariya
In Tohrah , It is also asked people to refrain from intoxicants but at the same intoxicants are allowed too

Hence Jewish Shariya allows Alcoholism in moderation and describes its excess as evil

 

[PUNJABIMUNDANO1]

Bahi please give me ANY good reason for consumption of alcohol, ANY ?
A Bengali friend of mine once said red wine is good for heart, 2-3 year back a research came out that suggest that red wine is worst then smoking cigrates
Now who would you believe in, the word of ALLAH swt or some stupid scientist who says one thing today and another tomorrow

How would one decide who is weak minded and who is not, IF you were to ask me I will tell i m the most genius person who ever lived, just kidding. But how do you suggest one will control the inner demons while intoxicated. Look around you what good do drugs do and how effective are those people who take drugs.

Some one once asked me is lying ok when conducting business, i was very young at the time, I said a little bit is ok. then he asked me how much is little bit, i said 2-3 lies is fine. Then he said what if i lie all day and say i lie a little bit, how do u define little bit. You cant, its relative to every one. I might feel bad after 3rd lie while some one wont feel bad after lieing all day long. If you get the idea same goes for your question about moderation.
Whats wrong is wrong, chaheyy kaan idhar sy pakro ya udhaar sy, if its wrong it will always be wrong. Of course until u find an excuse to justify ur action then everything is right.

Anyway there are some benefits ...and it is a proven fact

and we are not discussing here about damages or benefits

I am just explaining you God did not forbid these things but asked Muslims to refrain from these things these things lead to sins

The things God forbade in Quran , God also prescribed there punishments too

People drink alcohol in moderation and they remains in their senses ... and you cannot deny this fact

God gave you an option and left it on your thought process ... now its up to you to decide

 

[Jamal1]

There are soooo many holes in that case but i will leave it as you said and we are not here arguing about what damage or benefits

Anyway there are some benefits ...and it is a proven fact

and we are not discussing here about damages or benefits

I am just explaining you God did not forbid these things but asked Muslims to refrain from these things these things lead to sins

The things God forbade in Quran , God also prescribed there punishments too

People drink alcohol in moderation and they remains in their senses ... and you cannot deny this fact

God gave you an option and left it on your thought process ... now its up to you to decide

 

[PUNJABIMUNDANO1]

Bahi please give me ANY good reason for consumption of alcohol, ANY ?
A Bengali friend of mine once said red wine is good for heart, 2-3 year back a research came out that suggest that red wine is worst then smoking cigrates
Now who would you believe in, the word of ALLAH swt or some stupid scientist who says one thing today and another tomorrow

"And from the fruits of the palm trees and grapevines you take intoxicant and good provision. Indeed in that is a sign for a people who reason." (Quran, 16, 67)

Is the description of Paradise, which the righteous are promised, wherein are rivers of water unaltered, rivers of milk the taste of which never changes, rivers of wine delicious to those who drink, and rivers of purified honey, in which they will have from all [kinds of] fruits and forgiveness from their Lord, like [that of] those who abide eternally in the Fire and are given to drink scalding water that will sever their intestines?
​

(Surat XLVII, 15)

and all the things described in this Aya are also allowed here on earth

 

[PUNJABIMUNDANO1]

Bahi please give me ANY good reason for consumption of alcohol, ANY ?
A Bengali friend of mine once said red wine is good for heart, 2-3 year back a research came out that suggest that red wine is worst then smoking cigrates
Now who would you believe in, the word of ALLAH swt or some stupid scientist who says one thing today and another tomorrow

In a context


[h=2]And Allah has sent down rain from the sky and given life thereby to the earth after its lifelessness. Indeed in that is a sign for a people who listen.(16:65)[/h]
[h=2]And indeed, for you in grazing livestock is a lesson. We give you drink from what is in their bellies - between excretion and blood - pure milk, palatable to drinkers.(16:66)[/h]
[h=2]And from the fruits of the palm trees and grapevines you take intoxicant and good provision. Indeed in that is a sign for a people who reason. (16:67)[/h]
[h=2]And your Lord inspired to the bee, "Take for yourself among the mountains, houses, and among the trees and [in] that which they construct.(16:68)[/h]
[h=2]Then eat from all the fruits and follow the ways of your Lord laid down [for you]." There emerges from their bellies a drink, varying in colors, in which there is healing for people. Indeed in that is a sign for a people who give thought.(16:69)[/h]

 

[Waqas85]

We r talking about shares/stock market not wine and and cigrate .. u guyz limited this thread for wine and cigrate.. dont confuse thread plz

 

[affanpervez]

Alcohol , gambling , stone alters and diving arrows are not forbidden in Quran but it is told that these things are not good for you so its better to avoid these things . (these things are defilements but not sins )

O you who have believed, indeed, intoxicants, gambling, stone alters, and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.
​

(Surat V, 90).

A good example of ignorant interpretations.