And when do you get back in?
Sitting in cash, waiting for the dip, is a losing strategy (even if you knew when the dip will occur, which you don't):
* https://ofdollarsanddata.com/even-god-couldnt-beat-dollar-co...
Simply put in a little from every pay cheque.
If you think things are too wild, invest in an ("all-in-one") asset allocation fund that is not 100% stocks (e.g., fixed 80/20, 60/40):
* https://investor.vanguard.com/investment-products/mutual-fun...
* https://www.ishares.com/us/products/239729/ishares-aggressiv...
* https://investor.vanguard.com/investment-products/mutual-fun...
* https://www.vanguardinvestor.co.uk/investments/vanguard-life...
* https://www.vanguard.ca/en/product/etf/asset-allocation/9579...
* https://www.blackrock.com/ca/investors/en/products/239447/is...
or a target date fund (which increases bonds as you approach your retirement date).