The video provides guidance on where to place your hands during dips to ensure maximum tricep activation and stability. Initially, it suggests that a wide grip might lead to excessive chest involvement, which is not ideal if the goal is to target the triceps. Conversely, a very narrow grip can cause the arms to run into the body, limiting the range of motion and potentially causing instability. The speaker shares personal experience, noting that a grip that allows for a full range of motion without compromising stability is optimal. This grip should make you feel secure and connected to the equipment, allowing for controlled and effective dips.