Investment and trading is not the same thing. OP actually talks about an investment which usually requires years before it finally turns into a good profit.
Fits both trading and investment strategies in my opinion. Controlling your emotions and stick to your investment/trading plan are the key to success because it prevents you from knee-jerk reactions like buying into falling knives or holding positions too long when greed kicks in.
Yep! It's a business like any other and you need a plan. Not one you stick to no matter the circumstance, but one that serves as your guiding purpose. Are you willing to lose everything for a chance of an amazing return? Then your guiding principle is different than someone who wants to make enough profit to support themselves comfortably but also not risk losing everything.