There are several ways of dipping but ther are two main purposes in my opinion, and each purpose requires different approach. If you;re dipping to avoid pests, then a combination of Tropic Marine Coral Dip and Interceptor takes care of most hitchhikers like spiders, red bugs, flat worms, mites, etc.
If you're dipping to avoid bacterial infection, then i HIGHLY recommend Julian Sprung's "ReVive" which is more like an antiseptic. And it definatley smells like it. In our fishroom, we have expericned a significant decrease in loss since dipping all new incoming corals with it. It helps avoid the spread of bacteria responsible for rapid tissue loss in stonies, gaping mouth syndrome in yumas, and helps open wounds, whether done intentionally like in fragging or not intentionally like when being battered in transit.
I feel like some corals arrive too stressed for the Tropic Marine or SeaChem's Reef Dip so we dip corals in Revive first which seems more forgiving and then when the corals acclimate to the sytsem, we dip for "bugs" with the other solutions, all the while isolating new arrivals.
Hope this helps, JOHNNY