As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?
Who are asking how you will DCA. It is simple and you understand the theory. But I am little more concerned that you mentioned weekly and also emphasized that you will buy when prices dip in order to grab extra and protect your money. Dollar Cost Averaging method of investment doesn't work that way. If you are to buy only when there is dip, it means you have to closely monitor the market everytime and you will not be able to automate your investment. This is not how DCA work. In DCA you buy consistently when the price dips, bulls or is consolidating. Consistency is the key to achieving success in DCA.
Also, I will advise that you set an amount you are able to invest weekly. Don't set too high amount that will make you to start skipping weeks. Set a realistic amount based on your income. Thanks.