I think when you have at least 1000$ worth of coins you must have a hardware wallet. It is much safe to have coins in a hardware wallet rather than on exchanges. Plan 1 is much better than Plan 2 in my opinion but I would say Don't plan to buy every week buy only when dips after rising.

I prefer plan 1 because I am not into LTC, I am only into BTC, Eth, XRP, and Doge, itis good to explore yourself in different assets but that is riskier than focusing on only 1. The best thing to do is to try plan 1 first for a month and if it seems successful then just focused on it but if you think it's not then going for the second one, I think there would be a bit result for one month, just trial and error, it is normal to lose at the first try, that would make you a better person.