Sometimes, patience works for those who are doing long term trading and at least they are sure they have entered at a very good position. Better still, I will say the lack of strategy is what has led the funds of some traders to their early grave.

Okay, taking a look at the chart example that the Op gave as I was in this trade as well. Someone decided to trade a breakout and then it ended up a fake one, it is always good to know when to stop your loss and wait for a better position to buy back in. Take a look at what patience would have caused the person holding from that top.