What is a Repeat (Rand Cost Averaging) Limit Order?
This is an investment strategy in which an investor divides up the total amount to be invested (Buy or Sell) across periodic purchases (Daily or Weekly) of a target asset in an effort to reduce the impact of volatility on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals; in effect, this strategy removes much of the detailed work of attempting to time the market in order to make purchases of assets at the best prices. Although it is mainstream referred to as Dollar-cost averaging - we call it Repeats - it can also be referred to as Rand Cost Averaging or as the constant rand plan.
Here are instructions on how to create a Repeat (Rand cost averaging) Limit Order.