Best ways to trade: Direxion Daily Semiconductor Bull 3X Shares

Ticker: SOXL
Asset type: Stocks
Last updated: Saturday, March 02, 2024 at 08:00 AM

Follow the section below to learn how to trade. Remember that past results are not necessarily indicative of future results. Learn more in the disclaimer. Pine Script™ is registered by TradingView Inc, for more info click here.

How easy it is to trade Direxion Daily Semiconductor Bull 3X Shares

Let’s start with a general overview of the asset to understand how it has performed in the past. This section compares how the traders perform, analyzing those we monitor. The most critical data are the max return from the best trader, how many are profitable, and our score, which measures how much is easy compared to other assets of the same type.

Traders results for Direxion Daily Semiconductor Bull 3X Shares (SOXL)
WTT easy score
3/5
This indicator expresses how easy it was to trade in the last week

Let’s analyze the details of what happened:

Active Traders
54 of 3840
Traders still trading this asset

How many traders are trading Direxion Daily Semiconductor Bull 3X Shares?

We are actively monitoring 3840 traders and their strategies. On 02-03-2024, there were still 54 traders trading Direxion Daily Semiconductor Bull 3X Shares. This denotes Direxion Daily Semiconductor Bull 3X Shares as not as widely sought-after as an asset.
All time return
33.08%
Highest return between our traders

What was the best return trading Direxion Daily Semiconductor Bull 3X Shares?

When analysing 54 traders, we found the best return to be 33.08% on Direxion Daily Semiconductor Bull 3X Shares.
Profitable traders
25.0%
How many are profitable

How many traders are profittable day trading Direxion Daily Semiconductor Bull 3X Shares?

At the moment 25.0% of the traders are creating some profit from their strategies.
Best Trading Strategy
Buy and hold
The most effective trading strategy

Which day trading strategy is the most efective for Direxion Daily Semiconductor Bull 3X Shares?

In the last period Buy and hold has been the most effective trading strategy.

If you don’t know what a trading strategy is, please check the training section(Trading Strategies).

Traders attitude
risk-on
Traders attitude in the last 7 days

What is the opinion of traders on the value of Direxion Daily Semiconductor Bull 3X Shares?

The current attitude of the investors regarding the asset is risk-on.

Best trading strategy for Direxion Daily Semiconductor Bull 3X Shares (BETA)

In this section, we are going to detail the trading strategy that is currently the most effective. Please refer to the training (trading strategies) section for more information. This strategy is created by analyzing thousands of strategies and combining the best features to form a new, optimized approach. We advise that this new feature is currently in BETA testing phase (Hazel AI system). Please be aware of its experimental nature and potential for unexpected issues or limited functionality.

Strategy Class
Buy and hold
Current best
Annual return
1.15%
Estimated of the annual return
Time scale
1m
Current best
Win Trades
0
% win trades
Num trades
70
Trades executed
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Download the strategy for Direxion Daily Semiconductor Bull 3X Shares

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Let’s analyze the details of the strategy: 

Indicators

Explore the following key trading indicators that can help analyze price movements and guide trading decisions for Direxion Daily Semiconductor Bull 3X Shares.
Price
First indicator

Best lagging indicator for Direxion Daily Semiconductor Bull 3X Shares

 The first indicator is the most important for a strategy; what you find here are the parameters that must be used operationally.

Second indicator

Best leading indicator for Direxion Daily Semiconductor Bull 3X Shares

 The second indicator is also quite important for a strategy; Using two technical indicators in a strategy provides more confirmation and reduces false signals, leading to improved decision-making and potentially higher accuracy in identifying market trends and entry/exit points.

Macro Indicator
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Best macro indicator for Direxion Daily Semiconductor Bull 3X Shares

The third indicator focus on economic, financial, or geopolitical factors that impact asset prices. Fundamental indicators may include interest rates, economic growth, earnings reports, and news events. 

Entry point strategy

Discover potential entry points for Direxion Daily Semiconductor Bull 3X Shares.
Main entry strategy
Buy 5 min after the market open
The current best strategy for entry

Technical indicator entry strategy for Direxion Daily Semiconductor Bull 3X Shares

When combining indicators in a trading strategy for entry points, one approach is to look for convergence or agreement between multiple indicators. For example, if both the moving average crossover and the relative strength index (RSI) indicate a bullish signal, it strengthens the likelihood of a successful trade. This convergence provides more confidence in the entry point and increases the probability of a favorable outcome.

Other entry strategy
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Other entry strategy for Direxion Daily Semiconductor Bull 3X Shares

Available only in the premium version.

Alerts to monitor
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Alerts to monitor for Direxion Daily Semiconductor Bull 3X Shares

Available only in the premium version.

Exit point strategy

Discover potential exit points for Direxion Daily Semiconductor Bull 3X Shares.
Main exit strategy
Sell 5 min before the market close
The current best strategy for exit

Best exit strategy for Direxion Daily Semiconductor Bull 3X Shares

here you can find the detail for Implement an effective exit strategy for Direxion Daily Semiconductor Bull 3X Shares.
Alerts to monitor
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Alerts to monitor for Direxion Daily Semiconductor Bull 3X Shares

Available only in the premium version.

Trading guide for Direxion Daily Semiconductor Bull 3X Shares

WTT score
3/5
Taking a closer look at Direxion Daily Semiconductor Bull 3X Shares, this analysis wants to shed light on what the trading experience is. The asset is demonstrating a vigorous upward momentum, indicative of a strong market rally. Direxion Daily Semiconductor Bull 3X Shares requires a measured approach to trading. The asset’s price volatility is marked, entailing significant movements. After careful consideration of the aforementioned factors, it becomes evident that trading with Direxion Daily Semiconductor Bull 3X Shares is reasonably advised.
Pro
– Measured price movements present a relatively stable trading environment.

– The market is on a roll with consistent gains paving the way for lucrative investments.

Cons
– Risk of investing at peak prices during a strong uptrend.

Trend analysis

This section lists the main factor or risks of trading this product. Like the previous insights, we use data from our traders to analyze the risk factor of the asset. The most crucial point is how many traders are in green; a percentage below 20% indicates an investment that is very difficult to trade. 

Trend analysis for Direxion Daily Semiconductor Bull 3X Shares (SOXL)

Market regimes are periods of persistent market conditions. They affect the relevance of investment factors and the success of trading strategies. 

How long the situation will stay similar for Direxion Daily Semiconductor Bull 3X Shares?

In this section discusses whether market conditions will persist for Direxion Daily Semiconductor Bull 3X Shares.The current market sentiment is risk on. Over the past few weeks, the market has experienced an oscillation of 2.49 points, exhibiting a upward trend over 37908 periods. The market appears to be in a persistent phase. The market has exhibited substantial price fluctuations, highlighting upward momentum that may present profitable investment opportunities.
How long is lasting?
82 Days
The number of days this trend is lasting

How long this trend is lasting for Direxion Daily Semiconductor Bull 3X Shares?

Alerts and risk factors

These are factors that can potentially change the perception of the stock. These factors can lead to a change in the regime. Please refer to the training section for more information.

Risk factor 1

Headline Risk
Type: News

What is the main risk factor for Direxion Daily Semiconductor Bull 3X Shares?

Risk factor 2

Competitive risk
Type: Operational

What is the second most important factor for Direxion Daily Semiconductor Bull 3X Shares?

Go Premium to see the alerts for Direxion Daily Semiconductor Bull 3X Shares.

Brookers

Selecting the right broker is crucial in trading. This decision hinges on various criteria, including regional accessibility, cost-effectiveness, and compliance with local regulations. In this list, we present a concise, expert-curated list of brokers widely utilized by our seasoned traders to help you make an informed selection that aligns with your trading objectives.

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Exness
Used by 19%
Used by 9%
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