It's not enough having an investment plan, knowing the right choice to make for every investment defines the investor better. Take for example jumping on every new coin we find on reputable exchange might not be enough guarantee that coin will do well in the future.
Some coin might have good Supply but low liquidity, some might have high market capitalisation but very poor volatility. Although it's hard to predict the accuracy of a coin performance in the near future this why it is always advised to stick to the known which is BTC.
Another option is to spread ones portfolio amongst different coins but ensuring the have a greater percentage in projects with a visible future. It is better to win small and lose less than lose more and win less
There are so many things we have to look for, I would take an example like we have to saw the background mostly of the project.
The investor could also be helpful in judging the project so we could get more information in this way.
Also there should be some knowledge about the project tokenomics and also their vesting schedule if someone is going to invest in that project then he can also have some good thoughts about the same project.