I guess this question could apply to individual stocks, though would there be more volatility? Given that an ETF on average gains $1 every day, when is the best time in the day to buy the ETF for the lowest price, if you are buying weekly and holding long term? 1. I'm likely to say within first 5 mins because on avg it will gain $1 by the end of the day? Even if the first 2 hours are the most volatile (-$0.50, +$0.50), it could as equally go down as it could go up, meaning it's a wash? 2. Wouldn't the end of the day be on average be the highest since every day it on avg gains $1? 3. Even if you happened to buy at the highest price everyday, would it even matter since you'd still be gaining $1 everyday? Are there any studies on this? Thank you
Every trading day will be different. If your plan is to long-term hold and you'll be adding on every week, I would not worry about what time you're buying. If you try to time it, some days you'll get a better price in the morning, some days you'd have been better off waiting until the end of the day.
