6. Checking Investments Daily
As tempting as it might be, checking your investments every day is really stock investing for dummies. If you’re a long-term investor, there’s no advantage to keeping an eye on every little movement in your portfolio, as Warren Buffett said in an interview with CNBC.
“It’s dumb to check your stocks every single day,” said Jim Wang of WalletHacks.com. “It’s good to keep an eye on your stocks, but if you look every single day, you get tempted to react, especially in volatile markets.”
“It’s best to have a plan, made when you were calm and levelheaded, and stick to it — reacting based on emotion is almost always a bad idea,” Wang said.