Got caught in WDCX (2x leveraged Western Digital) at the peak. Cut losses or hold?
Hey guys, looking for some honest advice on a bad trade.
I bought 35 shares of WDCX (Tradr 2X Long WDC Daily ETF) at $66.5. Right after I bought, it jumped to around $67-$68 twice, but I missed my chance to set a limit order and take profits.
Since then, it has completely collapsed—dropping down to $50 and hitting $37 this week. I'm feeling a lot of regret about not selling when it spiked, and I'm stressing over what to do next.
I'm debating whether I should just bite the bullet, sell it around $40 to salvage what’s left, and move the capital into a standard, non-leveraged stock to avoid the daily decay. Or is it worth holding out for a bounce back?
I’ve only been trading for about two months, so any general advice on how to handle the psychology of a big drop or managing risk going forward would be highly appreciated. Thanks.