Let's get into how many traders who hold equities overnight or for long multi-day periods tend to treat their losses. When their trade is showing a loss, the instinctive reaction is to double down and buy more ("surely it will go up now") rather than closing out and accepting the loss & moving on. With leveraged bull ETFs if a trader holds for longer multi-day periods then the losses pile on quickly in a down market especially if they are doubling down as the leveraged ETF sinks. Speculating whether the market will go up or down over a several week period is basically a 50/50 crap shoot. Most traders would be best off flipping a coin to arrive at a proposed market-direction scenario. If they are 3X bull leveraged in 2021 they are a genius; if they do the same in 2022 then they lost their shirt. This gets back to the reality that these leveraged ETFs are not meant to provide 2X or 3X return for any time period except for a single day. The fund resets every day. If you are holding for longer multi-day periods then you are effectively not using the ETF properly in context of trading relative to exposing yourself to risk versus the possible rewards.
FYI, TradrETFs have QQQ and SPY leveraged ETFs that reset monthly or quarterly, vs the daily reset of other leveraged ETFs such as TQQQ https://www.tradretfs.com/learn/calendar-reset-leveraged-etfs
Obviously the content creator is a HODL investor, not trader. Always use as high leverage as possible. Then you just need to put a small amount of money in your trading account. And if the broker goes to India to die, you just lose a small amount of money. Of course, you have to buy low sell high sell high buy low have STOP in place. And make sure your trade plan talks about max lot size you can trade per trade/day. and avoid trading when the etf is trendless. sharp knife doesn't mean it is dangerous. high leverage doesn't mean it is dangerous. Use those things with care. Even if you are given negative leverage, it doesn't mean it is very safe. it doesn't mean you will be very rich.
I don't see these products are working as advertised based on their returns. Let's take a look at quarterly QQQP (Tradr 2X Long Triple Q Quarterly ETF) compared to QQQ total return for this year to date. It is not 2X the return of QQQ. QQQP did provide more than 2X the loss of QQQ in Q1 of 2025 however. (-18.35% vs. -8.14%) QQQP did provide near 2X the returns of QQQ in Q2 of 2025; but still fell short. Seeing that QQQP would need to hit 33.66% to be double of QQQ and only achieved 31.73%. This delta cannot merely be attributed to the 1.3% expense ratio for the performance shortfall.
Not defending QQQP, but it did perform better than TQQQ for the past 6 months, which is very strange. Too bad QQQP doesn't have a longer history to see its true long term performance.
Path dependent returns are pretty damn random indeed. The best you can really do is that if you expect suppressed vol conditions, this type of instrument might be suitable if you allocate a small enough portion (or somehow hedge part of the downside) that the wipe out risk doesn't hurt too much. It's still a gamble, but with a low enough leverage/factor it's not much worse than the gamble of holding the underlying with corresponding leverage on a fixed position initially at the same leverage. The appropriate leverage is related to assessing the Kelly criterion on the series of daily returns on the instrument. "Just" 2X might be way too much in highly volatile individual names, whereas it's probably no issue for e.g. SPX.