The Basic is to See the project itself look for their RoadMaps if its make sense, Then you can start to buy their tokens at its lower price. Then you wait for the project for its full development and after that you just need to wait for the price to rise up more its ICO price. That's only the basic, but if you want to experiment any further its up to you.
That's the hard thing inside this industry, following projects and review the realizations of future success is really a tough task inside this market, you have to have be more deep in terms of full development and progress, if your observations will bring you a good guarantee that the project is worthy to invest with, then go and start accumulating those cheap coins and wait for the rise.