My strategy is very simple. Usually, I buy some coin in ICO times or when coin price is so low. Then I hold it for Pumping high. When token price pumped then I sell my coin. And also I make a buy order in low price again. Thant's it.
I would be aware of few things:
1. Scam (my favorite one:
https://bitcointalk.org/index.php?topic=457575.0)
2. Low market volume, risk that I'd be left with useless bag of coins if miss the timing
3. Coin not being listed on any exchange - it's definitely harder to sell such coins here, on bitcointalk