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In the good old days, commission charges would weigh against $25 purchases of each stock each month. That is no longer a concern as often commissions are zero. But it would make for lots of paperwork and record keeping.

Dollar cost averaging works very well in a 401k where you invest in a few mutual fund repeatedly. For 10 to 30 stocks, implementation may not be so easy.

I'd suggest investing that $500 each month in a single stock and combining that $500 with any accumulated dividends. Rotating through your list of stocks could work. Or maybe watching for the one with the best opportunity each month.
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