hybrid approach

I will say there is some technique to be learn then apply before approach the subject so call lump sum investment and dollar cost averaging.

For me I will apply hybrid approach. I will use the lump sum split into 3 portion 30,30,40. Everything when the stock/index come down about 5-10%,the first 30% will be invested. When it come down another 5-10%,the next 30% will be invested. From here if come down another 5-10%, it will be consider bear market entering. Let it drop another 10-15% I will enter the last 40%. Be patient and wait for bull market and hit new high,collect 80%. If hit another new high,collect 20% and wait for it drop again and repeat. Of course above is best scenario and need experience to do it.