Risk sizing with leveraged commodity ETFs – how do you handle it?
Been dabbling in some commodity ETFs recently, specifically the leveraged ones like $UGAZ or $USLV when I'm feeling a bit more confident in a short-term direction. My concern is around proper risk sizing, especially with the daily rebalancing impact. I know the general rule of not risking more than X% of your account on any one trade, but with these leveraged products, the position size needed to maintain that seems to shift constantly. How do you guys factor in the decay and compounding in your risk models for these, or do you just treat them more like short-term, higher-conviction plays with tighter stops?
Yeah, that daily rebalancing can really mess with your effective exposure over time. Have you tried using a smaller percentage of your typical risk capital for those leveraged plays, almost treating them like options with a very short expiry?