Conclusion

This concludes the Introduction to Technical Analysis. I suggest you refer to Section Two while you continue to explore this exciting and potentially profitable pursuit.

A fitting conclusion to an introduction on technical analysis is a list of lessons I have learned, both from others and the hard way.

• Don't compound your losses by averaging down (i.e., don't keep buying additional shares at lower prices). It is tempting to think that a loss "doesn't count" until the position is closed--but it does!
  
• Anytime you own a security, ask yourself if you would buy it today. If you wouldn't buy it, you should consider selling it.
  
• Don't get distracted by others' investment prowess. Most investors only discuss their successes, threatening your focus and confidence.
  
• Wise investments aren't made with Ouija boards, they are made using logical approaches that minimize risks and maximize opportunities.
  
• Master the basics. Most investors spend their time looking for easy money (which is not an easy search) instead of learning the key factors to security prices--supply and demand.

"Opportunities flit by while we sit regretting the chances we have lost..."
- Jerome K. Jerome, 1889