Comments on: Pitfalls of Do-It-Yourself (DIY) Investing: Checking Your Account Daily http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/ Not just another (Canadian) financial blog Fri, 05 Dec 2008 12:25:55 +0000 http://wordpress.org/?v=abc By: Monty Loree http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6912 Monty Loree Thu, 26 Apr 2007 19:27:09 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6912 Hey InvestingIntelligently, I tagged you on a game of <a href="http://www.canadian-money-advisor.ca/archives/2007/04/financial tag tell us about more yourself.html" rel="nofollow">Financial Tag</a> Hey InvestingIntelligently,
I tagged you on a game of Financial Tag

]]> By: Monty Loree http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6910 Monty Loree Tue, 24 Apr 2007 16:50:26 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6910 Hello Again, RE: Canadian Tour of Personal Finance blogs #2 I've scheduled the next tour on May 7, 2007. The Money Diva has accepted to be the host for this event. Check out http://www.canadian-money-advisor.ca for more details. I've set up a new email for the tour tour (dot) canadian (at) gmail (dot) com BTW... did you see that <a href="http://www.canadian-money-advisor.ca/archives/2007/04/google is worlds most valuable brand $66 4 billion usd.html" rel="nofollow">Google's "Brand" is worth $66.4 Billion?</a> Google's "Brand" is worth $66.4 Billion? Monty Loree http://www.canadian-money-advisor.ca Hello Again,

RE: Canadian Tour of Personal Finance blogs #2
I’ve scheduled the next tour on May 7, 2007.
The Money Diva has accepted to be the host for this event.

Check out http://www.canadian-money-advisor.ca for more details.

I’ve set up a new email for the tour
tour (dot) canadian (at) gmail (dot) com

BTW… did you see that Google’s “Brand” is worth $66.4 Billion?
Google’s “Brand” is worth $66.4 Billion?

Monty Loree
http://www.canadian-money-advisor.ca

]]> By: Monty Loree http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6905 Monty Loree Sat, 21 Apr 2007 13:27:07 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6905 Hey Dave, Agreed. However the same principals apply. Spend a while learning about trading and how it works before investing any money. It's like playing russian roulette to ask an advisor for investing advice when you're not somewhat educated. I don't own stock market stocks, so i'm not an authority in the stock market. I do own stocks in my own businesses and the principals apply with my own businesses. I have spent thousands of hours to learn my business inside out so that it is profitable. I would do the same thing with stock market stocks before I spent any money with them. Hey Dave,
Agreed.

However the same principals apply.
Spend a while learning about trading and how it works before investing any money. It’s like playing russian roulette to ask an advisor for investing advice when you’re not somewhat educated.

I don’t own stock market stocks, so i’m not an authority in the stock market.

I do own stocks in my own businesses and the principals apply with my own businesses. I have spent thousands of hours to learn my business inside out so that it is profitable. I would do the same thing with stock market stocks before I spent any money with them.

]]> By: Dave http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6904 Dave Sat, 21 Apr 2007 09:08:31 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6904 Thanks JungleGuy. I was a bit better this week... I don't think I checked it every day. I'll be going on vacation soon for 2 weeks so that should help too. The fact that I will be trading very little will make more portfolio very boring and so I'll probably lose interest eventually. I think I'll change passwords, give it to my wife, then once I'm weaned off I'll try to have control of it again and see if I check the account regularly. I really like last year when I was only looking at the monthly statements. Thanks JungleGuy. I was a bit better this week… I don’t think I checked it every day. I’ll be going on vacation soon for 2 weeks so that should help too. The fact that I will be trading very little will make more portfolio very boring and so I’ll probably lose interest eventually. I think I’ll change passwords, give it to my wife, then once I’m weaned off I’ll try to have control of it again and see if I check the account regularly.

I really like last year when I was only looking at the monthly statements.

]]> By: FinancialJungleGuy http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6903 FinancialJungleGuy Sat, 21 Apr 2007 08:47:34 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6903 If you want to fight the urge to trade, wouldn't it make sense to "train" at it? I think giving the password to your wife will not solve the root problem. You need a longer term solution. :) I've been a DIY investor for 2 years now. Still check my portfolio everyday, but I don't act on it. BTW, love your blog. It's very educational. I'm a new blogger, and hope to "see" you around in the bloggersphere. If you want to fight the urge to trade, wouldn’t it make sense to “train” at it? I think giving the password to your wife will not solve the root problem. You need a longer term solution. :) I’ve been a DIY investor for 2 years now. Still check my portfolio everyday, but I don’t act on it.

BTW, love your blog. It’s very educational. I’m a new blogger, and hope to “see” you around in the bloggersphere.

]]> By: Dave http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6902 Dave Sat, 21 Apr 2007 00:25:14 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6902 Monty, the word "investing" is not at all associated with "active trading" or even "trading." So when I say DIY investing I mean investing for the long term, very little trading, but it is DIY, so you don't work through a middle-man (advisor) who makes trades for you. Monty, the word “investing” is not at all associated with “active trading” or even “trading.” So when I say DIY investing I mean investing for the long term, very little trading, but it is DIY, so you don’t work through a middle-man (advisor) who makes trades for you.

]]> By: Monty Loree http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6901 Monty Loree Fri, 20 Apr 2007 21:01:45 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6901 BTW... Pitfalls of DIY Investing.. I would recommend that people ALOT of time learning about DIY investing. It's something that one should be very careful with. While it can be profitable, and I know of people who earn their living with Active Trading, it can also be a money loser for people who aren't seasoned with the process. I spent a few weeks with the TraderZone software, and while it is a powerful software, I didn't start to actively use it because I didn't feel confident that I was familiar with all aspects of trading. IMHO BTW…
Pitfalls of DIY Investing..
I would recommend that people ALOT of time learning about DIY investing.

It’s something that one should be very careful with. While it can be profitable, and I know of people who earn their living with Active Trading, it can also be a money loser for people who aren’t seasoned with the process.

I spent a few weeks with the TraderZone software, and while it is a powerful software, I didn’t start to actively use it because I didn’t feel confident that I was familiar with all aspects of trading.

IMHO

]]> By: Monty Loree http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6900 Monty Loree Fri, 20 Apr 2007 20:58:23 +0000 http://www.investingintelligently.com/2007/04/17/pitfalls-of-do-it-yourself-diy-investing-checking-your-account-daily/#comment-6900 Hey InvestingIntelligently, CanadianCapitalist has offered some recommendations for upcoming Canadian Tour of Personal Finance blogs. Care to drop by and comment?!! Thanks, Monty Loree Hey InvestingIntelligently,

CanadianCapitalist has offered some recommendations for upcoming Canadian Tour of Personal Finance blogs.

Care to drop by and comment?!!

Thanks,

Monty Loree

]]>