What is the best way to practice CP? 1. I should practice problems rating wise and when I find a problem that involves a new algorithm, I should learn it, or.. 2. I should pick a algorithm and practise it until I master it

Which way is right? 1 or 2? And if I choose 1, should I practice the algorithm until I master it or should I just learn the basics and practice upto the difficulty level problems that I can handle? Again, if I choose 2, then when should I practice rating wise problems?