Thoughts on managing risk with leveraged oil ETFs?

Hey everyone, still relatively new to the energy space, and specifically looking at some of these leveraged ETFs like UCO or SCO. I get the basic mechanics of how they're supposed to track multiples of the underlying, but I'm having a hard time wrapping my head around the daily resets and how that impacts position sizing over more than a day or two. If I'm trying to express a view on $WTI for a week or two, how do you seasoned traders account for that decay/volatility drag in your risk models? Are you just using smaller sizes for longer holding periods, or is there a more sophisticated approach I'm missing?