The best way to reduce the risk of loss in altcoins is to make thorough research by following the announcement thread on the forum to know which altcoin is more substantial. Altcoin has great profit potential depending on the kind you choose to invest. You should also check the coinmarketcap to identify altcoins with bright future
Yeah finding succesfull coins would entail a tremendous research like joining forum that will give you hint and advise and more important study thier platform and and knowing thier working product if it really works and analyzing it if it is profitable and possibility of ROI and the team working in the project are having good credentials and expertise.