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ProFoxxxx t1_j19lg7x wrote

Reply to comment by RascalRibs in Lower low has been made on the nasdaq by Miljonairsteam

Holding a leveraged ETF is for the clinically stupid

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milesthegreat2020 t1_j19tghf wrote

SQQQ hasn’t been stupid lol 😂

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JustBuildAHouse t1_j1bgi0v wrote

But you still shouldn’t hold it long term. You’ll get fucked by beta slippage. Just 1 green day and can bomb your position. But of course if you get lucky with consecutive red days you’ll make bank. But in the long term lots of risk

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milesthegreat2020 t1_j1bguue wrote

Not if you know how to read charts. I don’t leave my positions unmanaged. But in this down trend you could have and still done well, but not as well.

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StockCasinoMember t1_j1bny66 wrote

I'm not much for charts but I swing trade both sides. Sold half of my SQQQ/SPXU today and, exercised a $18 strike TQQQ PUT(bought in the 16s), and bought some TQQQ in case we have a bounce up tomorrow. I use a combination of selling puts and LIFO swing trading as well to lower my cost basis in down trends while I buy bigger in bulk when I feel the time is right.

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RascalRibs t1_j19mrhf wrote

He's screwed lol he keeps saying we are going to see a run and it will recover.

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whatevers1234 t1_j1bfzi0 wrote

Depends on how you look at it. If you use 1/3 your portfolio and average down you could be doing better right now than blowing your whole portfolio in QQQ.

Not to mention QQQ is down 33.59% ytd today. 33.59 x 3 = 100.77

But TQQQ is down 79.5% ytd.

Basically it’s less painful at this point being in TQQQ investing less than someone who blew everything in QQQ

Now, if you take everything you have and put it in TQQQ or another 3x at top then yeah…that’s clinically stupid.

I’ve averaged down TNA and TQQQ literally since highs of last October. My portfolio is down 25%. Helped by ability to swing trade a highly volatile stock as well.

Had the market not collapsed I would have made more $$ than had I invested in QQQ. And with the collapse having happened I have lost less than had I invested what I would have had to in QQQ to try and make the same profits in a bull market.

People are imo very misinformed about 3x. If you trade it correctly you can make more if shit goes your way and lose less if it doesn’t.

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riksi t1_j1ckw5a wrote

> Basically it’s less painful at this point being in TQQQ investing less than someone who blew everything in QQQ

Until you get 1 or 2 years of sideways market.

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whatevers1234 t1_j1e7oth wrote

Not true at all. TQQQ does not slip like inverse 3x markets. It’s quite minimal. If you are swing trading you will make up any of those losses quite quickly with just a couple sales. If anything it doesn’t matter at all if you are trading on volatility.

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riksi t1_j1e8a1m wrote

You are truly regarded my dude. Nobody said it slips like inverse. It still slips.

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whatevers1234 t1_j1egxh9 wrote

I invested in TNA back in October of 2021 and got truely fucked for sure.

But I invested in TQQQ around 36 and am even right now around 18.

If you sit like an idiot and don’t actively trade then yeah. You regarded. If you actually swing a 3x, sell CC, and hedge you fucking come out just fine.

Literally if I can be even when a stock moves from 36 to 18 I ain’t worried about a bit of slippage if markets move sideways. The way I trade that’s actually when I make the bulk of my $$ compared to rest of market.

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