I'm no fan of managed SP's either, learn't my lesson with large losses in a lot of spec stocks over the years before I woke up to the games played by the pro's, I keep right away from all of them now when I see it happening, just not worth it if your not right on top of it and can't exit at the right time-10% in minutes is good-maybe hours can mean the difference between profit or a large loss.
I'm also a fan of my 3 wave theory.
1-morning news-fools rush in on open ( 8am to 10am)
2- pro's start operating during this second phase 10-12am. with large false orders in the depth field-usually 2nd or 3rd position just off the money and small bot sales they generate either way
3-profit takers or stales start up around 1 hour from close.
Next day repeat this, large orders sitting just off the money, there are still fools who fall for this.
T2 or T3 they are all gone and the mums and pops are left wondering WTF just happened to us?
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