Your Own Enemy

When I was a kid I remember having a plan. I would get a job, which I did, and slowly start to accumulate money. It was that simple.

But what began as a simple idea slowly became a frustrating battle with my own ambition. I was 16 years-old, and I was obsessed with the stock market.

I remember my "nest egg" being a small cigar case that sat in the corner of my room. To the best of my ability, I would cram almost all of my income into that box and try to forget about it.

I had no idea that this process would soon become a valuable tool for earning profits in the stock market.

So although this may sound straightforward, the worst mistake an investor can make is opening that small cigar case.

Emotions are a big part of money management. Slight changes in book value often cause investors to make wrong decisions over 50% of the time. Checking stocks daily is a terrible decision that can lead to a history of regret.

1. It's proven that investors who track their investments every 3 months receive higher returns.

2. Watching your daily profits can be exciting, but this will eventually backfire.

I understand that maybe there's a rare occasion in which you take the risk of buying a high growth stock. Let's say it doubles, or maybe even triples. Any investor would have to watch that stock like a hawk in order to take their profits. I understand.

But that is not how you make money.

As the famous saying goes, "The tortoise always wins the race."

Buying quality stocks in any marketplace, at any time, will reward you in the long-term if they are just left alone.

Try putting your portfolio on autopilot, you'll make more money and get a lot more sleep.