Are There Any Advantages to Daily Stock Checking?

If you're not into day-trading, then the answer is actually no, there aren't any advantages.

If you’re wondering how often you should check your stocks, you’re probably checking them too much. It frustrates me to no end when I see new investors constantly checking their stocks like it’s their social media feed. It seems like even the slightest dip in the market causes them to freak out and start selling everything.

Checking it nonstop only makes you anxious and inducts a poorly managed financial plan.

As long as you are not a day-trader, I advise you to apply the rule "set it & forget it", and allow yourself to check every 4 weeks if you need to.

Specifically, checking their portfolios too frequently tends to make new investors sell stocks for the wrong reasons. For example, if a certain stock jumps by 20%, it can seem like a good idea to sell and lock in the gains. Or, if a stock falls by the same amount, it could seem smart to sell before things get any worse. As long as you believe in the companies you invest in for the long term, both of these are bad reasons to sell.

The bottom line is that if you aren't prone to making knee-jerk reactions when your stocks move, you can check them as often as you'd like.