2009.03.31 THE LURE OF THE SQUIGGLY
Posted: Tue Mar 31, 2009 6:26 pm
2009.03.31 THE LURE OF THE SQUIGGLY
Like a moth to a flame
Meaning
Irresistibly and dangerously attracted to something or someone.
Origin
The phrase is a simple allusion to the well-known attraction that moths have to bright lights. The word moth was used the the 17th century to mean someone who was apt to be tempted by something that would lead to their downfall. This is referred to by Shakespeare in The Merchant of Venice, 1600:
"Thus hath the candle singed the moth."
What is the allure that SQUIGGLY LINES have over traders? What is the reason traders think or believe that if they could only interpret the squigglys correctly, that huge profits will come their way? What makes traders covet the complex and disdain the simple? If one chart or indicator is good then more must be better!! Oh Great Squiggly Master please teach me to decipher the code so I can unlock the SECRET OF THE SQUIGGLYS. Show me how to load every indicator known to man on my chart rendering price invisible so I can see which way price is moving. Teach me to SEE THE FUTURE as only a SQUIGGLY MASTER can.
How many traders must be singed by SQUIGGLYS before they learn there is no magic in squigglys? The market DOES NOT CARE what the reason is you entered the trade. Do you really believe the market is going to go your way just because 2 or more (lagging) indicators have crossed?
We are literally DRAINING THE BANKS here using simple support and resistance levels and a few HORIZONTAL LINES yet some traders hear the siren song of the squiggly and crash upon the rocks. When will they learn?
Like a moth to a flame
Meaning
Irresistibly and dangerously attracted to something or someone.
Origin
The phrase is a simple allusion to the well-known attraction that moths have to bright lights. The word moth was used the the 17th century to mean someone who was apt to be tempted by something that would lead to their downfall. This is referred to by Shakespeare in The Merchant of Venice, 1600:
"Thus hath the candle singed the moth."
What is the allure that SQUIGGLY LINES have over traders? What is the reason traders think or believe that if they could only interpret the squigglys correctly, that huge profits will come their way? What makes traders covet the complex and disdain the simple? If one chart or indicator is good then more must be better!! Oh Great Squiggly Master please teach me to decipher the code so I can unlock the SECRET OF THE SQUIGGLYS. Show me how to load every indicator known to man on my chart rendering price invisible so I can see which way price is moving. Teach me to SEE THE FUTURE as only a SQUIGGLY MASTER can.
How many traders must be singed by SQUIGGLYS before they learn there is no magic in squigglys? The market DOES NOT CARE what the reason is you entered the trade. Do you really believe the market is going to go your way just because 2 or more (lagging) indicators have crossed?
We are literally DRAINING THE BANKS here using simple support and resistance levels and a few HORIZONTAL LINES yet some traders hear the siren song of the squiggly and crash upon the rocks. When will they learn?
