The experts didn’t predict it when the market went down.)

There is rarely a dull month in the stock market, and August proved to be another example. During the first few trading days of the month, S&P 500 (SNPINDEX: ^GSPC) fell more than 6% alongside a sell-off in major tech stocks, sending CBOE Volatility Index at the highest levels in recent years.

The CBOE VIX — known as the “fear index” — measures market volatility and rises during volatile periods. There is no universal CBOE VIX scale, but any number above 30 generally indicates significant fear and uncertainty.

All the commotion surrounding the S&P 500 since early August has some Wall Street pundits sounding the alarm and raising their recession forecasts. Of course, it’s better to be prepared for a recession that doesn’t happen than to be unprepared for one that does, but looking back, those fears were probably overblown and misplaced based on just a few days.

Despite the rough start, the S&P 500 recovered the rest of the month and ended August up 2.3%. Those aren’t necessarily spectacular returns, but it has outperformed in January, April and July of this year.

The only certainty in the stock market is uncertainty

August’s S&P 500 roller coaster is a reminder that no one really knows how the market will move. You can have all the resources in the world and make educated guesses, but at the end of the day, there is no definitive way to tell how it will work.

The sooner people learn that lesson, the better their chances of avoiding one of the biggest mistakes in investing: trying to time the market.

It’s easy to want to sell stocks when you expect the market to go down or load up on stocks when you expect the market to go up, but that’s a slippery slope. Even if you’re right once or a few times, timing the market correctly over the long term is as far-fetched as hitting a blindfolded bull’s eye.

It’s a habit you don’t want to form because it usually does more harm than good.

The focus should be on consistency through thick and thin

Volatility is as much a part of the stock market as stocks themselves. It’s been that way since the beginning of the investment, and there’s no reason to think it won’t be that way for the rest of the time. The best thing the average investor can do is focus on consistency; which usually gives the best long-term results.

A great way I’ve found to stay consistent is to use dollar cost averaging. When you do this, you decide on a set amount to invest, put yourself on an investment schedule, and stick to your schedule regardless of market performance.

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For example, let’s say you have $400 that you want to invest monthly in an S&P 500 exchange-traded fund (ETF), such as Vanguard S&P 500 ETF (NYSEMKT:VOO). You can decide that you want to split the $400 into four weekly investments of $100 each Monday, two investments of $200 each Friday, or a lump sum at the beginning of each month.

The frequency and schedule you decide is not too important; it’s all about what works for you. The most important thing is to stick to your schedule no matter what. Having a set schedule reduces the temptation to make sporadic moves based on short-term market movements (or at least that’s the goal).

So, should you invest in the S&P 500?

Few investments are as great at all times as an S&P 500 ETF. It’s a one-stop shop that can be the cornerstone of any investor’s portfolio. The S&P 500, like any other stock or index, has its ups and downs, but it’s hard to go against its historical performance.

That’s no guarantee it will continue, but decades of solid performance are encouraging.

There are a handful of S&P 500 ETFs, but my personal fund is the Vanguard S&P 500 ETF. Since all S&P 500 ETFs mirror the same index, there aren’t many tangible differences other than cost. With an expense ratio of 0.03%, the Vanguard S&P 500 ETF is one of the cheapest ETFs on the market and one-third the cost of the popular one. SPDR S&P 500 ETF to 0.0945%.

Ignore the noise in the stock market and trust the power of long-term investing in the S&P 500.

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Stefon Walters has positions in the Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends the Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

Here’s how the S&P 500 fared in August. (Hint: Experts didn’t predict it when the market went down.) was originally published by The Motley Fool