How often you check your portfolio will also determine the probability of seeing a loss. In his book Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets, former options trader Nassim Nicholas Taleb points out that if you look at your portfolio once a year, the likelihood of seeing a gain is 93 per cent. If you “check it every second, minute, hour or day, you have around a 50-per-cent chance of seeing a gain, which means you are just as likely to see a loss.
It also helps to take an approach that is distinctly your own, not based on some equity benchmark, and certainly not on what others are doing or telling you what you should be doing.
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