NASDAQ:IQ   IQIYI INC SPON EACH ADS REP 7 ORD SHS CLASS A
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Probably trades down to 28.50 before heading higher. #buythedip

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any update, it didn't go as you expected?
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mistrykam erfrerd
@erfrerd, Yes, it didn't go as plan - got stopped out. IQ is in a in a short-term down-trend. But there is support at 25.00 (double bottom). Probably won't trade it again.
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erfrerd mistrykam
@mistrykam, did you lose money, can it fall through $25 or go sideways for many months or is it likely to spike up soon, did you learn how to detect if it's going to be too unpredictable? sry if questions are stupid
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mistrykam erfrerd
@erfrerd, Good questions! It was a paper trade, so no real money lost. I trade on probability based on the current trend. A stock can only do three things: trend up, trend down or go sideways. I use moving averages to figure out what the trend is (50-EMA, 100-EMA, 150-EMA and 200-EMA). I generally buy the dip and sell at 2R, with a 1R stop limit.
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e20atl mistrykam
@mistrykam, Sorry for a stupid question. What is 1R or 2R that you mention in the previous reply? Thanks in advance.
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@e20atl, No problem, please ask away. R stands for Risk Unit. 1 R is equally to 1 or 2% of your trading capital. For example, if you were trading with $25,000, then 1% is $250. So 1 R = $250. Stock trading is about risk management, your goal as a trader is to "win" more than you "lose'. I look for setup where I may lose 1 R or gain 2 R.

Check-out these two videos by Adam Khoo:

Part https://www.youtube.com/watch?v=bRCtBRsLPmk&%3Bt=7s
Part https://www.youtube.com/watch?v=lHhtVfeoCdQ&%3Bt=97s

I also highly recommend watching the free videos series by Real Life Trading by Jerremy Newsome:

https://reallifetrading.com/products/beginner-trading
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