Monitoring your investments too closely can be harmful from "summary" of The Investment Answer by Gordon Murray,Daniel C. Goldie,Gordon S. Murray
It's a common misconception that checking your investments constantly is a good idea. In reality, it can actually be harmful. Why is that? Well, the market is unpredictable and constantly changing. When you monitor your investments too closely, you may be tempted to make impulsive decisions based on short-term fluctuations. This can lead to buying high and selling low, which is the exact opposite of what you want to do as an investor. Additionally, constantly checking your investments can lead to unnecessary stress and anxiety. You may find yourself constantly worrying about every little dip or rise in the market. This can take a toll on your mental and emotional well-being. Furthermore, excessive monitoring can also lead to excessive trading. This can result in higher fees and taxes, which can eat into your returns over time. Instead of obsessively checking your investments, it's important to take a long-term view. Remember that investing is a marathon, not a sprint. By focusing on your goals and sticking to your investment plan, you can avoid the pitfalls of constantly monitoring your investments.
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