I do this very often

90% of thr time I buy something the stock dip lower, but mostly bc i was buying when it already dipped. I expect the stock will grow in the long term tho, so I do the HODL strategy. If I still have money when it dip lower i'll continue to buy, and doubly if I have at least 100 shares of a stock I'll sell a 0.9 delta short term option and close it as soon as it make a .7-.8 lost in option value, usually the .9 delta strike would be higher than the stock's previous high so if I buy after that point I would make profit even if my option get called away. If I lose in here I would get insured by the premium and collect back my capital to write a lost on my tax since it would be over 30 days loss. Idk I'm still very inexperienced and still receives $20-40 loss a day on average, but the market been trending downward for the longest time I ever saw since I started looking into stock so I'm not too worried