these rules are all true, i believed in that, its the same thing that i read before in some books that i searched, and its really amazing when we do it, sometimes, its easy to say i will never panic, whatever things happen, but when those things happens, it is very hard to do, so for me, i always want to do it, to follow these rules and it is necessary to achieved my goals to make some good profit.. 
They are pretty good rules and not just rules but something to understand first before even embarking on the trading journey which I believe a lot of people always find hard to understand or just simply do not sort out to understand.However, for the patience, I want to believe that depends on your style of trading as you really do not want to be patient in a day or short term trading when you want to be stopping loss. Personally, I believe the only time that is applicable is for long term trading after buying at the dip.