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How many times do you check your portfolio?
Daily?
Weekly?
Monthly?
Quarterly?
Semi-Annually?
Let’s talk about the sweet spot and why you’re probably checking your portfolio too much.
- A THREAD -
Daily?
Weekly?
Monthly?
Quarterly?
Semi-Annually?
Let’s talk about the sweet spot and why you’re probably checking your portfolio too much.
- A THREAD -
I’m going to start off by saying this.
If you’re a day trader, stop reading this thread.
It doesn’t apply to you.
Because realistically you should be checking your portfolio daily.
Your capital gains depend on it.
But…
If you’re a day trader, stop reading this thread.
It doesn’t apply to you.
Because realistically you should be checking your portfolio daily.
Your capital gains depend on it.
But…
If you’re a long term investor.
Whether it’s an:
- Index fund investor
- Growth investor
- Value investor
- Dividend investor
Or all of the above.
You might be checking your portfolio too much.
Whether it’s an:
- Index fund investor
- Growth investor
- Value investor
- Dividend investor
Or all of the above.
You might be checking your portfolio too much.
1.
“Constant checking makes investing stressful”
Let me tell you a little story.
My first stock was $BNS.TO
A large Canadian Bank.
When I first bought shares I was so excited.
To the point where I checked the price every single hour of every single day for the next month.
“Constant checking makes investing stressful”
Let me tell you a little story.
My first stock was $BNS.TO
A large Canadian Bank.
When I first bought shares I was so excited.
To the point where I checked the price every single hour of every single day for the next month.
I would get stressed when the price would go down.
My emotions would take over….
“What if this was a bad investment?”
I thought to myself.
Then when the price would rise….
I would say…
“I’m the smartest investor ever!”
My emotions would take over….
“What if this was a bad investment?”
I thought to myself.
Then when the price would rise….
I would say…
“I’m the smartest investor ever!”
This type of behavior facilitates an emotional response.
A behavior long term investors can’t afford to have.
Emotions lead to bad decision making.
You want to take it out of the equation.
A behavior long term investors can’t afford to have.
Emotions lead to bad decision making.
You want to take it out of the equation.
2.
“Save time, set alerts”
This experience led me to believe there was a better way.
And as a long term investor, I didn’t want to be checking my portfolio every hour of every day.
The point is not to “set it and forget it”
But rather to be confident in your investments.
“Save time, set alerts”
This experience led me to believe there was a better way.
And as a long term investor, I didn’t want to be checking my portfolio every hour of every day.
The point is not to “set it and forget it”
But rather to be confident in your investments.
Confidence comes when you’ve analyzed the company.
Gone through the financials.
And formulated strong reasons for why you think it’s a good investment.
If you’ve done your homework, there’s no reason to be checking the price every hour.
Trust your instincts!
Gone through the financials.
And formulated strong reasons for why you think it’s a good investment.
If you’ve done your homework, there’s no reason to be checking the price every hour.
Trust your instincts!
Now I set alerts.
Most of my alerts are for price decreases.
I set them for intervals of:
- 5%
- 10%
- 15%
- 20%
This allows me to know when the stock price drops…
But stops me from watching the market like a hawk all day long.
Which brings me to point #3...
Most of my alerts are for price decreases.
I set them for intervals of:
- 5%
- 10%
- 15%
- 20%
This allows me to know when the stock price drops…
But stops me from watching the market like a hawk all day long.
Which brings me to point #3...
3.
“Stop being a helicopter parent”
By definition, a helicopter parent is one who…
“takes an overprotective or excessive interest in the life of their child”
Your portfolio is your child.
You’re the parent.
“Stop being a helicopter parent”
By definition, a helicopter parent is one who…
“takes an overprotective or excessive interest in the life of their child”
Your portfolio is your child.
You’re the parent.
You don’t need to be watching over it every hour of the day.
Let it live.
Let it do its thing.
If you have confidence in your child, why worry?
Trust them.
And trust that everything will be alright.
Let it live.
Let it do its thing.
If you have confidence in your child, why worry?
Trust them.
And trust that everything will be alright.
With that being said…
I personally check my portfolio about once a day.
I still think this is too much as a long term investor….
But my love and passion for investing makes it hard to stay away.
I personally check my portfolio about once a day.
I still think this is too much as a long term investor….
But my love and passion for investing makes it hard to stay away.
This allows me to not obsess over short term price fluctuations.
But also allows me to check in to see how the market performed that day.
Which I believe is a healthy balance…
At least for now.
But also allows me to check in to see how the market performed that day.
Which I believe is a healthy balance…
At least for now.
I believe that the proper analysis of an investment will help you stay away from checking the market all day long.
Proper analysis breeds confidence.
And lets you sleep well at night.
That’s what a long term investor needs from their portfolio.
Proper analysis breeds confidence.
And lets you sleep well at night.
That’s what a long term investor needs from their portfolio.
If you’re interested in upping your analysis game.
So you can stay away from the market.
And do other things that are probably more important than watching your portfolio all day long…
Check out my course “The Complete Investors Accelerator Pack” below
So you can stay away from the market.
And do other things that are probably more important than watching your portfolio all day long…
Check out my course “The Complete Investors Accelerator Pack” below
And because you’ve made it this far in the thread.
Go ahead and take $5 off your purchase.
Use code
stop checking https://bit.ly/dividendmoney
Go ahead and take $5 off your purchase.
Use code
stop checking https://bit.ly/dividendmoney
