I see and observe recently that many ICOs are below the ICO price when they touch the exchange. Do you think it's a smart step to wait for an exchange and buy the tokens you want?
If you buy at ICO sale you can get bonus which can help you to make more money than the capital invested even if the token price fell below the ICO rate but if the price fell too much you invested on the wrong worthless project so it is your fault and when buy at the exchange after listed it will remove lot of risk like scam ICO but you will get less profits than the ICO sale.