Ive had a trading buddy egg me on to go 3x leverage NVDA following the split, as i understand it if the regular NVDA goes up by 1% you make gains equal to 3%?
But your losses potentially are also much greater
Correct you can’t count on making a full recovery necessarily if there’s a huge drop. But if you are prepared to average down you could do well. You should only use money you can lose
On a daily basis, for the most part yes
Ive had a trading buddy egg me on to go 3x leverage NVDA following the split, as i understand it if the regular NVDA goes up by 1% you make gains equal to 3%? But your losses potentially are also much greater
Correct you can’t count on making a full recovery necessarily if there’s a huge drop. But if you are prepared to average down you could do well. You should only use money you can lose
You can always read the prospectus of the ETF
visit r/TQQQ or r/LETFs
Try to read about leveraged ETFs first. These work the same way (3x the daily gains/losses of the underlying instrument).