Ico's can be very profitable from my knowledge, but recently I've seen ico's trade for less than what people bought it for... so in my opinion, ICO's are risky business. BUT they can be very profitable if they "take off"
As for trading you can always look at history and base your trading on that. If something is down 80% then you know that there is potential to have 80% up again to new all time high. But that is risky too so you pretty much need to find your own way