I do used to buy coins when the price is fell back ward and there is a serious dumb. The coins must have fell back world to said 30% and sell when it is in positive of 10%. I have never make a serious loses but make a reasonable profit. I have decided to follow this ageing principle of buying low and sell high.
I used to apply the same strategy but then I made a huge loss by the way. I bought sonm tokens continuously while it's dumping from 3.5k satoshi to 2k satoshi. Can you imagine that?
It's not right every time.
There is nothing wrong with the strategy but you have to have a calculation on how low the price might go and since it is a new coin you have to be cautious while investing,the only thing you can do right now is to wait for the long term and all the coins will reach the ICO price at a later time and that is what i experienced till now,whenever a coins falls below ICO price i used to invest in that.