Hi Conrad, I am not disagreeing with you. But Lichello gave himself some hard limits. He wanted his system to be simple, so simple that if you could add and subtract you could do it. The only time you have to do division is to get (safe), and Lichello chose to use 10% of Stock value for that, so all you had to do was drop the last digit.
In my view point the only buy one should do would be the first one, as it was due to the stock price changing. The other buys that are generated are due to adding half the buy to portfolio control.
I did a check with my old AIM spreadsheet. Started AIM with $10,000 total, PC set at $5,000, at a stock price of $10. I then dropped the price to $5 and left it there. The first buy was $2,250. Then AIM went on to buy $900, then $360, then $144, before (Safe) could stop it. So that is $1,404 to much stock that was bought. How ever all that additional buying did help to lower the average cost of the shares. I don't have average cost built into this spreadsheet so I can't tell you how much the extra buys helped to lower the average cost.
Come see me at Systematic Investing group #board-966 lets talk formula plans.