@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.
erfrerd
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@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
mistrykam
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@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.
e20atl
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@mistrykam, Sorry for a stupid question. What is 1R or 2R that you mention in the previous reply? Thanks in advance.
mistrykam
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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.