The Argument to not Check Your Asset Value Daily

By Cje95 | Just My 2 Cents | 12 May 2022


It runs contrary to what most people think and do but for the last couple of years, I have heard more and more people say or make the comment that you should not check your investment daily. I am just as guilty as the next person in that while I do not check all of my investments I check a number of them and even have alerts sent to my phone. Before this crypto collapse, I had already been working on trying to cut back on checking my investments. 

 

I was lucky in some ways as my job the last month or so has eaten up most of my time. When I haven't been working it was typically before or after the markets had closed so limiting/cutting back on checking those investments was the first thing I decided to do. At first, I did not really notice that big of a difference but after about a week I realized how much better my mood was and how much more energy I had since I wasn't spending extra time researching and reading about stocks. 

 

There are exceptions though like when the market last week fell over 1,000 points and the crazy swings that occurred. Today was another one since I knew that inflation data was coming out and that would be a national headline no matter what the number was going to be. However, I did not spend a ton of time on my apps looking at my investments. The key is moderation and making sure that you do not go off the deep end with it. 

 

Now crypto has been a different bear to tackle as I have several different income streams in crypto and some of them require attention like writing this post and reading and tipping on articles. With mixed success, I have done my best to not touch my MetaMask or Ledger wallets and to really do a big get in and get out kind of thing. Due to my job and where I work I am already often surrounded by technology and thus crypto news. If I am not careful it is easy to spend hours upon hours on sites reading articles, analyses, or charts.

 

Finding the balance is key and really hard to achieve especially when you are pretty heavily involved like I am. To keep me in check I have found setting certain barriers to being pretty successful so far. For instance, I won't deal with crypto past 10 PM so far the last week or so this has been successful but this is not something I plan on making permanent. What it is doing is really shocking my system and allowing me to rapidly dial back the amount of time I am spending doing this stuff. I have learned that there is a give and take with this and overall it is something I want to do as I am able to feel the effects when I break my own rules. It has also helped prevent me from making some Bitcoin and more importantly a LUNA purchase that I would have really really regretted. 

 

I have found for me that sometimes the best trade I could make is just getting up and walking away. At the end of the day, the markets are going to do what they are going to do I cannot control them. Since I made sure to never invest more than I could afford to lose I do not have to worry about immense ramifications and can ride this rough patch out. I personally always tried to make sure I was getting into high-quality coins and tokens and found that I needed to understand it for me to put money into it. For now, I will sit on the side and let my staking and yield farming assets continue to plug away as I try to figure out my next move. 

 

Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_

 

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C.! Huge sports fan, space nerd, and international newsreader! Follow me on Twitter @Cje95_


Just My 2 Cents
Just My 2 Cents

My personal opinions about things transpiring in the world

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