I don't get this Dollar Cost Averaging (DCA). Explain pls

Dollar-cost averaging (DCA) is an investment strategy that involves regularly investing a fixed amount of money into a particular investment, regardless of its price. Instead of trying to time the market and make large lump-sum investments, DCA allows investors to spread their investment over a longer period.

Here's how dollar-cost averaging typically works:

1. Regular Investments: With DCA, an investor commits to investing a fixed amount of money at regular intervals, such as monthly or quarterly. For example, they might invest $500 into a particular stock or fund every month.

2. Purchase of Shares: Each time the investment is made, the fixed amount is used to purchase shares of the chosen investment. The number of shares purchased will depend on the investment's current price at that time.

3. Market Price Variations: Since the investor is investing at regular intervals, they will buy more shares when prices are low and fewer shares when prices are high. This approach helps to mitigate the impact of short-term market volatility on the overall investment.

The idea behind dollar-cost averaging is that, over time, the investment's price fluctuations will be averaged out, resulting in a lower average cost per share. This strategy can help reduce the impact of market timing and emotional decision-making, as investors consistently invest regardless of short-term market movements.

Key advantages of dollar-cost averaging include:

1. Disciplined Investing: DCA encourages regular investing, promoting discipline and consistency in building an investment portfolio.

2. Risk Mitigation: By investing a fixed amount at regular intervals, DCA helps to mitigate the impact of market volatility and reduces the risk associated with making large lump-sum investments at potentially unfavorable market conditions.

3. Potential Long-Term Gains: Over an extended period, dollar-cost averaging can result in accumulating more shares when prices are low. If the investment performs well over time, the investor may benefit from the potential appreciation of the investment's value.

It's important to note that dollar-cost averaging does not guarantee profits or protect against losses. Market fluctuations can still impact the overall performance of the investment. DCA should be considered as part of an overall investment strategy based on an individual's financial goals, risk tolerance, and time horizon