Does anyone here use dollar cost averaging when buying PM's? I'm sure everyone knows what that entails but here's an example:
On the first of the month, buy a fixed dollar amount of PM (lets use silver in this example). For the amount, lets use $300.00. It doesn't have to be once a month, it could be once every 21 days or whatever. The idea is that if the price of silver goes way up, you are buying less of it which is appropriate since its not "on sale". If the price goes way down, then you are acquiring more and thats beneficial since it is "on sale". The important thing is that its necessary to adhere to the regimen that was established in the beginning of the plan. I was just wondering if anyone had used this type of buying plan?