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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
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