My strategy about ico is the same than with all my investments : I cash out my initial investment when the price reaches 3x my buy price. Sometimes, this never happens, but whatever, if you invest only what you can afford to lose (yeah, that works with cryptocurrencies investments made from BTC too), I still can invest somewere else in parallel with the leftover I own.

3x price isn't that hard for good projects, in this situation, I get back my investment and I still own 2/3 of my coins, which is still a good amount for the future