https://www.reddit.com/r/stocks/comments/fkrbxd/spxl_and_spxs_day_trading_for_quicksmall_gains/
It's a valid strategy in this market, imo. If you understand the risk. As leveraged ETFs they move extremely quickly, but otherwise mirror the SPX/SPY so if you're scalping and just watching for basic short technical indicators like 3 bar plays honestly i think you're fine. Safer than my strategy of swing trading SPXS options. 😂 the risk is how quickly they deflate when the underlying moves against it, because of the leveraged position.
The only thing you have to be right on is the direction of the trend. So if SP500 is clearly bullish on the daily chart (let's say over the last 30 days), you likely have a >50% chance of being right on picking SPXL (long) or SPXS (short)
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