I am using a Chase private client self managed brokerage account and trying to get into TQQQ and buy today, and am receiving an error that Leveraged ETFs are prohibited! Anyone else with a Chase brokerage have this issue?
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I'm optimizing for returns with less severe drawdowns by not always being in 3x ETF and being in long term equities otherwise. I'm not sure why this strategy is receiving the criticism it is.
You’re in a sub where people are DCAing leveraged funds despite the conventional wisdom to avoid doing so. There’s some survivorship bias here, everyone who did this and got destroyed probably avoids this sub and doesn’t want to talk about it, lol.
thanks bro, I think you're right haha, I've been in 3x ETFs for 4 years now. sitting on $500k in stocks and two single family homes in California (purchased in the last 3 years) which are now long term rentals thanks to 3x ETFs. I'm in it for the long haul and just want to build wealth on my own timeline.
I don’t know when to exit but even if I did so right now I’d have doubled my money in a year or less and that’s hard to complain about. With that said anybody who bought near the peak still hasn’t recovered.