We all know the dangers of playing the ES and other futures/options. We also know the dangers of playing with stocks. What about exclusively trading ultra and 3x etfs? They have the movements to make for a nice trading instrument...
it IS possible, good friend of mine trades strictly FAS and FAZ... he does VERY well... it's all about entry points and taking your losses quick
Obviously know your risks, read the prospectus, etc. etc. and understand that they are not stocks, they don't move like stocks. They are index based and often times optimized down to only hold a portion of the index. I would suggest that you look at the holdings and try to identify stocks that are "trigger" or "signal" stocks within the holdings that will show which way the thing might go. I would also suggest starting out with lower leverage - 1x ETFs then moving up to 2x and then 3x last - they can bite you bad. If you were in FAS yesterday going into the close you would have been up over 25%... Look at that today.