The most effective way to lower your risk is to do more research.
I do agree that doing more research is a big thing. For instance like in a crypto, additional information with regards to developers and supply are factors to that can help you determine to how much extent you can invest. Be an observant as to the movement and flow of a particular crypto. Lastly, patience is one of the best tool and not to be in a hurry always can lead also so greater profit.