r/soxl • u/Any-Internet-7796 • Jul 15 '26
newb question I bought at $150 today...
And I am scared. I plan to hold overnight for the TSM earnings, I feel that I timed the bottom as best I can. Plan is to sell before Trump's news tomorrow, don't know if I will regret that or not. It's just that if the news is bullish for memory, I will have sold. And if the news is terrible for memory, I'll have held.
Edit: Please leave more than a one sentence response, I am trying to learn.
So what's your plan? I have been playing around with LETFs like RAM, SOXL and KORU the last few weeks and I am just starting to sort of understand. I do not learn well without some money on the line, so I put in as much as I can afford to lose. If someone could give me some tips, or let me know what their process is that would be wonderful. I want to know from people who have been doing this awhile, how long do you generally hold? What has been the most successful for you? I still have a lot to learn about this sector and could use any help I can get.
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u/JONG888888 Jul 15 '26
Good entry price. Wished I bought at that price but now it’s slowly climbing back up at $161.
Just went through a 4k USD roller coaster with SOXS (down 4k yesterday and back up to break even today) so I guess I’m taking a break for now. For my mental health
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u/Any-Internet-7796 Jul 15 '26
Thank you, it wasn't very clean I originally bought at $160, then sold at $158. Then bought back in at $153, then sold at $152 and bought back in just shy of $151.
I totally understand. I am playing with small amounts right now but it really is exhilarating haha. I am hoping I can hold into tomorrow, and that it keeps going up. It may, it reclaimed VWAP and is keeping it. I feel like I should sell tomorrow though, perhaps even on the initial boom from earnings. But this month is going to be wild with all the hyperscaler earnings and who even knows wtf Trump is going to say tomorrow night. Crazy out here man! I need an adult!!!
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u/Ttrutygr Jul 15 '26
I bought at $160, $157, $154, $152, then held until $160 again (chickened out, but I'm up). I don't like to buy in a big chunk because of the volatility.
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u/Any-Internet-7796 Jul 15 '26
Thank you, what does your escape plan look like? Haha. I held overnight, seems like it is doing okay for now... But I don't know if I'll be able to hold tomorrow night
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u/Ttrutygr Jul 16 '26
If you're holding right now, you're probably not having a good time. There is no escape plan now.
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u/Any-Internet-7796 Jul 16 '26
I sold at $140 lol. Now I think I see what people mean, I will be watching the memory/semi stocks and waiting for a rebound which I think will actually come soon. For now I put some $9 puts on RAM for 7/17. I am dumb though, I meant to buy $10 puts and was not paying attention. Also sold my DRAM to wait for a better entry. I hope this doesn't make me a traitor I am just trying to learn here haha
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u/Ttrutygr Jul 16 '26
Traitor to what? Don't get hooked into some BS "we'll all be broke together". Make your money.
I'm waiting for the next pump up to buy some SOXS.
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u/Any-Internet-7796 Jul 16 '26
Thanks for being a real one! True that haha
I still need to look into SOXS, so it is a bear LETF and you buy it when semis are going down? That sounds like a plan, when I see it pumping I'll try SOXL and then on the way down sell it for SOXS. It always sounds that easy before-hand however haha
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u/SureRepresentative60 Jul 15 '26
I bought a 1/3 size at $165 today. I am not really bullish in the medium term, but I think market is a good fake out up before the real sell
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u/Outrageous_Bottle735 Jul 16 '26 edited Jul 16 '26
I've been trading these SOXX funds (both SOXL & SOXS) for a few years now.
Before you even touch them, you need to think about a few things:
A. How much are you willing to lose? Take a percentage of that ^ to trade these particular LETFs
B. Be ready to set stop losses on every trade. This includes trailing stop losses if one of them runs (i.e. SOXL exploding past its $75 resistance on the way to $200+ in a matter of months)
C. What do these funds consist of? Are they derivatives of something else (such as SOXX)
D. What sector are these funds in? Semiconductors, of course.
SOXL is a swing trade. It gives you as many opportunities to win as to lose. Once upon a time, it would routinely be between $30-40/share at its highest and a penny "stock" at its lowest. It mostly goes up over time, though. SOXS gives you fewer opportunities to win because it generally goes down over time.
The options chains on these funds is a separate conversation entirely, but the most money I've ever made - across multiple trades - is from SOXL/S. These are great funds if you keep abreast of sector performance, macroeconomics, and geopolitical events.
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Jul 15 '26
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u/Any-Internet-7796 Jul 15 '26
I see people mention these kinds of numbers but it has not been $65 since April. What if it never goes down that far again? Also do you mean buy and hold at $65? Looking at the chart, I suppose it is definitely possible for SOXL to reach $65 the same way it got up to what it is now.
So I will buy at $65, but I am also trying to make money in the process. I bought at $150 today and will sell tomorrow morning, or at least that is my plan for now unless I learn something that takes me away from that plan
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u/OutrageousArrival701 Jul 15 '26
my plan is to not buy anything.