Dollar Cost Averaging Investing (DCA) is investing the same amount of money at regular time intervals. Regular investing “forces” you to buy more shares when the price is low and fewer shares when the price is high. In essence, you are buying more at bargain prices and fewer at what might be considered high prices. The best part of DCA is it frees you from the worry of investing at the wrong time. You must not worry about the markets ups and down when you are doing DCA. Keep your emotions out of investing.
You decide when to invest, weekly, monthly, quarterly, etc. However, in order to obtain the best results, you should invest frequently, at the minimum monthly. Why, because the market lows may not happen near the time you are scheduled to make an investment. When you invest more frequently, you have a greater likelihood that your program will enable you to buy shares near intermediate-term lows.
Check out this short video on DCA from Investopedia.