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Originally Posted by KCUnited
Talk to me about buying strategy.
Say you've grabbed a position in a stock using the funds available to you at the time. The stock has done well and seems to be rising. As more funds become available to you, do you a) keep purchasing the stock at the market price? b) hold the funds and set a limit order at a lower price and wait for a dip? or c) look for other opportunities with a different stock?
Also, do you have a max number of shares you strive to get to in something before you move on to a different stock?
My scenario is specific to making funds available with each pay period, every 2 weeks in my case, and I'm a little fuzzy on how to allocate after my initial (larger) purchase.
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With me, I determine what I want to buy, and how many shares and do it. I did this with Tesla last year. I wanted 10 shares. Every week I put money in until I could pick up another share. Eventually I reached my target. This year I'm trying the same thing, but with different Vanguard and Ark funds. I have a target of how many shares I want of each, and I'm going to pick them up piecemeal every week.
I'm holding onto these funds that I'm buying for at least another year and a half, so I'm comfortable knowing that some weeks I'll pay more, and some weeks I might (hopefully not) pay less.