Make your knitting narrower by reducing stitches. There are two methods suggested for decreasing stitches, Knit 2 Together (K2tog) and Slip, Slip, Knit (SSK).
Knit 2 together (k2tog)
Beginning of row decrease, right slanting. You can do one decrease, or a series of decreases all the way across the loom, to draw up, or decrease, stitches by half. It is used a lot when knitting hats (crown decreases).
1. Move the 1st stitch to peg 2. The 2nd peg will have 2 loops.
2. Now work the row. When working the peg, take 2 bottom loops over the top loop. One stitch has been decreased.
K2tog across all stitches (for a gathered decrease)
Remove every other loop and move to the adjacent peg to the left.
Then move stitches inward to cover the empty pegs. This will reduce stitches by half. When knitting row, work 2 over 1.
Slip, Slip, Knit (SSK)
Left slanting. This works the same way as the K2tog decrease, except it is left slanting. Move loop from peg 5 to peg 4. When working peg 4, lift the 2 bottom loops over 1 loop. One stitch has been decreased.