I agree, well said. The more time you have to monitor positions, the more risk you can take on. But I think you have to respect the price action, respect the uncertainty, and keep positions small enough so that they won't bankrupt you if they go sour. Having a thesis, an entry strategy, an exit strategy, and so on, are crucial.
The fundamental of trading is ETS - entry, target, stop loss. I think that approach can be translated for an investor as well.