In trading, the trinity are:
With the combination of these 3 basic components, we get all the myriad technical indicators out there.
Show me any technical indicators out there that does not use 3 of the above components.
You may ask, “What about Point and Figure charting? Where’s the time component?”
And I would counter, “Yes, there’s not time axis per se; but look at the P&F chart again. If there’s no time, how do you spot the trend change?”
Science quiz: If there’s no movement, how do we tell time?
I read this “goldfish” story many years ago. Can’t remember from where so can’t give accreditation. And by the way, I will “embellish” this story in my SMOL style as usual. I don’t do copy paste well; I often add pepper and salt according to taste.
A professor asked his students to write a paper to describe how goldfish swims.
Most students would engage in academic research in the libraries and start to write “copy with pride” thesis on how goldfish swims (using other people’s reflections and conclusions).
Some students will research by watching documentaries on how goldfish swims (using other people’s observation).
Guess what? The professor brought in a fishbowl with a goldfish in it on the day of paper submission and asked his students:
“How many of you actually looked at a goldfish to see how it swims?”
Now this is coaching!
Make a wild guess what this goldfish story is all about?
Something to reflect upon if you are befuddled by the charts and indicators you are currently using.
Singapore Man of Leisure (welcome to my blog; just google it!)