Is an Investment Plan Important?

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Investing is not just about buying and holding instruments or commodities, especially for types of instruments that have high volatility such as stocks and crypto. In investing in stocks, we must also have a plan whether the investment goal is for the long term or short term, an investment plan can also reduce the emotion of buying stocks that are going viral. What do you think?
 
I am planning to invest in something I can afford to lose next year. I will also invest on another business. I am still planning about it. I'm relying on the flow of my savings if good enough to invest in a large scale business.
 
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