I usually put 4 pips to shields at the beginning of a joust face-off. Then I reset (2 pips to everything) and keep boosting until finding a good position.There's plenty to learn about pip management, but this is the most essential part: every point in shields reduces damage taken by 15%. So you can reduce damage taken by 60% just by putting four points there. That's a lot of survivability you can get from that. (In terms of combat endurance, it's not only a boost to shield capacity, but also to regeneration rate. The more damage you mitigate when taking fire, the less time your shields need to fully recover. )
And I agree. 4 pips to shields does A LOT, but your ship slows down. So you have to evaluate the situation. Face-off against an FAS or a Vulture, ok. Face-off against a conda or FDL? No way, better boost and try another chance at his back.
PS: If your ship is small, just... don't joust. Please.