What is a compost tea / liquid fertilizer?

Do you just mix compost with water and let the microorganisms propagate to a high concentration? Or is there something else to some of the products I've seen? Do you need a compost pile to make a compost tea? Thanks organic gurus!
Oh I was also wondering - if you were to make a compost tea, and wanted to use it with a DWC bucket, would you put the compost tea into the bucket directly? or would you dilute? or maybe add other nutrients?

Compost tea is usually either mixed with the water, or u use cheese cloth of a burlap sack and throw ur compost mix in and let it steep in a huge container of water. Preferably airating the water as u steep and u let it steep for two to 3 days. I dont know about a dwc. Not really familiar with hydro, i am a purist when it comes to soil and organics.

I was looking at the huge vegetables this guy has - Bountea Compost Tea - Brew Kits - Organic Gardening - Garden Help – Tomatoes - Disease, Blight - Tomato Planting - Hydroponics - Flowers, Shrubs, Trees - Problem Soil - and looked at the ingredients to the product he sells. Apparently this compost tea contains "humisoil" and "bioactivator" among other things - do you know if these things are contained in my own compost pile, or would I need to independently add these things? Humisoil is just the top layer of good soil, right? But what is bioactivator? Is it just the microbes that break down composted material in the first place? I can't wait to have plants this size!

Mr.guru let me ask you how if I grow with 60watts lightning,cause for reason it's just small area and when I put 100watts was kind a too hot then made my plant dead,thank you much I really waiting for your answer

so in order to make the tea i have to have a compost pile and soak the decomposed what ever i threw in and basicle make tea with it and water my plants with that

old compost tea is compost soaked in a bucket. modern compost tea is AACT activly airated compost tea, which is made by running air through the bucket of water via an aquarium air pump and a air stone. this with compost(or worm castings) kelp and mollases make a tea filled with benificial bacteria and mycro organizisms and fungi.

Airation speeds up the compost tea, as does using molasses with the compost. One gal. of this will make 6 to 8 gals. of ready to feed tea. It does not keep well. If you have some left over, pour in your yard, etc. It is not a fert, but a "bioactivater, to "grow" billions of microbes quiclky. Add 2 oz's of liquid seawwed per gal of tea, and the results for your soil & plants will multiply. Check out the dirt doctor & Dr.Earth web sites. For ferts, fish emulsion, various meals etc., made into a tea or mixed with the soil will do the fert thing.

Can I use the tea from my vermicompost?