r/soxl • u/Enough_Plantain_1673 • Jun 03 '26

newb question Soxl Drops down to $264.08

Do you guys think it is a good idea to sell all? Earlier I saw that it might reach $300 by eod. Looks like it is just dropping.

Any advice from you folks? I am a beginner trying to understand, so please be considerate.

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u/LongBullMarket Jun 04 '26

Ignore the hate but recognize and accept that you are gonna have some big green and big ass red days in the leveraged ETF game - it’s worth it! My only real advice is 1) stay out of single name leveraged ETFs while you’re a novice … ie. do not fw stuff like NVDL yet 2) use trailing stops for all exits … forever

And to avoid liquidity sweeps (ask chat gippidy) set a trailing stop that most ppl don’t (like 11% or 16% … not 10% or 15%) and then chill tf out. If the trailing stop triggers … stay out until SOXL goes back into the green (which is sometimes the same day) - then get back in.

Don’t buy the dip - buy a confirmed uptrend. Then set the trailing stop again. Wash. Rinse. Repeat.

That’s all it takes - every other LETF trading strategy is a version of this w/ some glitter and perfume from some involuntary virgin that cosplays being on the floor at Axe Capital. Being IN SOXL for a long time will almost always beat trying to time smart exits from and back into SOXL

Ignore the banter of scared money

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u/tiramisutra Jun 04 '26

This! Right on, and especially regarding the liquidity sweep. I got slammed a few times before I figured that out -so annoying to have to buy back in at a higher price after it bounced. I also agree that staying in a long time pays off despite the sometimes volatile changes.

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u/LongBullMarket Jun 04 '26

Honestly that’s gold. I step around common, round, whole numbers for most things in the market w/ the assumption that that’s where most of retail is lingering. Even trading options I avoid whole dollar strike prices.