A “Buying the Dip” Survival Guide

With more and more investment analysts calling for a “pause” or a “breather” for the stock market, what is the best way/strategy to “buy on the dip.” Is it advisable for regular investors to try and do so? Why or why not? If so, what is the best way to buy on the dip? What are the red flags to watch out for and why? How do you even know if a dip is ending, and what do you do then? All expert comments welcome.