I do due diligence before I buy. That is the most important step.
I set a limit of losing 50% at some point before it makes money. If it loses 50% of what I paid, I dump it. Worst mistakes are holding stocks that are sinking, thinking they'll recover. Better to exit, wait for the bottom, and, if conditions warrant, get back in. You could set a lower loss level, but OTC can jump around quite a bit.
When it makes money, sell some to recover your investment. Keep doing that until you have your entire investment back, then use what remains to play with 'house money' to see where it goes.
Don't do ANYTHING without understanding why you are doing it. Based on DD, not on what people say - there is no way to know the difference between the truth and pure fiction.