What is your approach to leveraged ETF trading?

[Heatman]

The word “leverage” is one I have always treated with a fair bit of caution, but I decided to finally give leveraged ETF trading a try. I was concerned about how I would react in the face of drawdown though, so I decided it would be best to automate my trading, which I have been doing with this platform. So far, it’s been working out great. I try to only check on my account a couple times a month, and I’m pleased with my returns to date.
To those of you who are also doing leveraged ETF trading, how are you managing yours?

[Jojo]

My approach to leveraged ETF trading is cautious and strategic. I use them for short-term positions to capitalize on market swings, given their amplified returns and risks. Monitoring market conditions closely, I set strict stop-loss orders to manage potential losses. Research and timing are crucial; I avoid holding these ETFs long-term due to decay and volatility impacts. Diversifying and limiting portfolio exposure are key to mitigating risks.