If I'm going to be honest with you, it's a pretty difficult task, there are quite a lot of projects today, with many more still coming out, thus choosing/selecting the one that may be profitable is more or less based on luck, and very risky, personally I don't invest in new projects or altcoins for that matter, I think ethereum isn't a bad choice at all, it has gotten to the stage were it can be said to be a long term project, as a result it's a good investment. Having said that, If you manage to get any 'promising' project, do not invest more than you can afford to lose, and mind you that you should take profits when it accrues, cause most of this new projects are pump and dump coin, and they can dump at any time.