I think that is can be extremely risky investing in ICOs. Of course, more risk comes more reward. However, I find it sometimes more fruitful to invest after the ICO and see the price action for a day on the exchange. Then I might wait a coupe of days of weeks to see it bottom out. But if you really believe in their project and you've done all your research, and can see yourself holding that coin or token for a long time, then I would totally buy as soon as you can. It does take time to create that conviction and get into the nitty gritty with the research.
Here's an example of some fundamental research that I've done for a token that I completely believe in: https://steemit.com/vezt/@mranders/lqv5u227