First, trading stocks is inherently risky. If you would be in trouble financially should you lose everything, you should reconsider why you are trading and how much you are investing.
Alright, onto your question. This Reddit post says that the dotted line is the previous close price. Every day the line will change based on what the stock closed at the day before. This helps you track whether your investment has gone up or down since yesterday. When your stock is "up", in this scenario, it means it is currently trading above yesterday's close price.
If you are just jumping into this, I would recommend doing some research on trading stocks and how it all works. There are many ways to invest in stocks, but most investors will tell you that you should stick to a set of rules or guidelines that control your trading. These can be as simple as saying "I will sell at X time or price" or more complicated like scenario analysis using financial models. It would benefit you to at least know the different types of trading and strategies used so you can make educated guesses on stocks or make better decisions about your investments.
Hope this helps!