TMI! Too Much Information!

Recently, I talked about using Yodlee and how great it is to keep track of my finances. It has some really great features that I love and will never go back to MS Money or Quicken ever again. However, I should report that there is a downside to using Yodlee. This downside was not apparent when I first started using Yodlee, but has become a glaring issue as of late.

I set up my investment accounts (401k, play money)in Yodlee. I thought it would be easy to keep track of how it was doing and that would be great. Note to self: "This was not such a good idea."

Given the current stock market performance and the big dive it took this week, I've been able to see the impact on my accounts right away. No more surprises or ignorance when the statement comes in the mail. I can see my accounts shrinking right before my eyes!! Why is this a problem, you ask?

It is a problem because I want to commit a fatal error that many investors make, myself included. I want to pick up the phone in a knee jerk fashion and get out of the losing positions and move into something else. Translation: Sell low and buy high instead of Buy low and sell high.

Previously, I could have remained ignorant about the condition of my accounts
and been puzzled, but not disturbed as to why my accounts were lower than the previous month or only up by a couple of bucks. Translation: Fat, dumb and happy.

Traditionally, the following has been my M.O. Each month or quarter, I glance at the statements when they arrive, note the balances, forget what I read and repeat. No need to panic or worry. By the time, I know that something happened, it's too late to do anything about it. Which has also served me well; especially during the dotcom bust.

The questions remain.....

Should I keep my account visible on Yodlee? Can I resist the temptation to try to make up for any losses by trading? (not that I am some skilled trader by any stretch)

I'll keep pondering these things while I stay away from the phone...