New to SOXL & SOXS, need help

So, I am relatively new to investing in stocks and have just invested in SPY, QQQ kinda safe ETFs in a small volume. A friend tells me recently to research SOXL & SOXS which I did and ended up here.
Clearly after looking at the charts my mind is blown and seems late to the party.

Can someone please advise if it is still worth buying into SOXL at this range?

Do people hold such leveraged ETFs or just day trade?

Lastly, what is the logic behind pairing SOXL & SOXS.. like what is the strategy to buy both or sell, totally confused here.