Daily Investment Checking

It is apparently dangerous, yet I am doing it everyday... or worse, every hour :( Oh God...
And I thought I knew that too, but somehow I just can't help it..

Anyway, I am sure it's not too late to start :)

So this is what they say:

In Why Smart People Make Big Money Mistakes, the authors note that it's
dangerous to watch your investments every day. When you pay close attention, you
tend to become emotionally invested in even small movements. You lose sight of
the long-term and make decisions based on short-term events. Peek in every month
or so, but don't constantly check your investments.

Also:

In conjunction with the idea that you should be long in the stock market, you shouldn’t watch the market every single day. Since a stock, depending on its volatility, is likely to jump and drop at essentially random, if you watch the performance of your stock every single day then you’re likely to read into those moves when there’s nothing to read. This may cause you to make a decision based on random events and not on the fundamentals, what should’ve caused you to purchase the stock in the first place.