actually this is not quite right in this market.
it can only work in a market where the asset (after dipping) is going to recover. otherwise when we are in a market where most of the dumps mean the end for that altcoin, buying in the dip is a foolish thing to do.
even if you were sure of the recovery of some altcoin it still is not worth it to buy in that dip because you will ALWAYS face either one of the following scenarios: 1. face a bigger dump after you bought because the "dip" was not the bottom. 2. have to wait for months to see the coin be pumped again. and that is not what a trader wants.