I am looking for some general advice about my investment strategy. I also understand that if I make changes to my strategy from this post that it is at my own risk. I am just curious to what everyone else would do in this scenario.
I started investing about one month ago. I did a lot of research and finally jumped into investing. I have learnt a lot and I am happy with how I am going to add money in the future and which stocks I will invest in.
A month ago I had a lump sum available for investing and I put around 75% of that into the market. I am very happy with the stocks and I have already made some healthy growth.
My worry is that I have just learnt about lump sum investing and dollar cost averaging during an all time market high.
I do want my money going into the market but I think I should have perhaps added the same amount of money that I planned on investing, but in smaller chunks over smaller time periods. That is, I would still be investing the same amount over this tax year, but it would not be in one large lump sum followed by smaller investments.
I understand that this also means that my money is not in the market as long and I may miss out. I also know lots of YouTube videos about a market crash can scare beginners into missing out on a lot of money. I am not trying to time the market, just wondering if my approach was a little bullish.
My question is, based on this information, if you had a lump sum of money that you would like to invest starting now and knew exactly which stocks you wanted to buy, would you add it all today or would you add, for example, a smaller amount weekly. One other thing to take into account is that I am investing for the very long term and do not plan to touch this money for 30 years or more.