I had another conversation with a friend of mine about dollar cost averaging. He uses it as an overall strategy to build his investments. He combines it with Fibonacci retracements and moving averages to refine his trades. I think this is a great plan and would add that if you want a solid overall plan, only buy stocks that pay a dividend and you will be paid to own the stocks as well.
Here is a great video from Investopedia on dollar cost averaging:
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