Are You Always Fully Invested or Hold No Matter What?

Do you adjust your investing strategy based on market conditions, or is it byand hold no matter what? Am i always fully invested. What do you do with cash while waiting to deploy? Hold cash as in p 500 tea bills, strips, or some other negatively correlated instrument. How much per centage cash is too much, where it becomes a drag on long term performance? Do not rush to buy a couple of things at the same time. Allow yourself to have, even though it sounds absurd, a 50 % cash position in the first year, if that's what you want.