Most financial advisors will say leveraged ETFs are too risky. Some advisors say these things shouldn’t even be available to the common person (especially in a retirement account.)  They will also say you cannot time the market (we actually need people like that, if everyone did exactly what I do, it would stop working.)

Your account can rise and fall very rapidly at times.  The attraction is with time the gains can be substantial.  You cannot make big gain without big risk.

So you look at the past history and see that even when there is a big fall it always comes back strong, so you say to yourself “no problem, I can handle that.” Until you put a big chuck of real money in and it starts to plunge.  I guarantee you will find your risk tolerance is not what you thought. You may panic and take your money out just at the worst time.

If I were a new investor I would start small.  Use some money I could afford to lose.  Make the trades and learn the mechanics of trading.  With time confidence grows and I would feel more comfortable adding to my position.