My understanding is that dollar cost averaging is adding the same amount of money at a consistent interval in hopes that the purchase prices will average out over time.
But, when I was little, I remember my dad having me make a table and we started with increments of $50. Every month, I would look at the price and see how much to add.
Like month two, if there was no change, I would add another $50. If the money went down to say $45, I would have had to have added $55. If the account was at $57, I would have added $53.
So each month, I had to see what month it was, where I should be, and how much to add.
That still feels like dollar cost averaging, but does it have any other names? Why am I the only one of my friend group who seems to do this? Is just adding the same amount at the same interval better?
Thanks so much.