I don't do it. But you can. If you stretch too much you can cut close and then when you let the skin back the hair can retract below the surface. Be careful of this as it can cause some ingrown hairs.
The only stretching I do is facial muscle manipulation and it seems to work just fine.
I generally don't stretch using my hand, except on my lower neck where the hair grows right along the skin and can be difficult to cut. Ingrown hairs are a concern for some, so try it out and see if it works for you. By the way, I use the same strokes and techniques for both SE and DE razors.
Dittos the making faces, and mostly not. Nothing more than that.
I remember seeing folks shaving on TV many many years ago, and they'd stretch the skin with the off hand. It isn't required with proper technique and a sharp blade IMO. Maybe they were trying to make it look harder than it is? I dunno.
It may depend on your age. If you are an old guy, like me, then you have to use both hands to stretch the skin. This, unfortunately, makes it difficult to shave, since both hands are occupied. So, what I do is to use one hand to stretch and one for the razor.
Actually, other than making strange faces while I shave, I only have to stretch my neck a little to get a closer shave.