Walk through a first trade before placing one.
This lesson uses imaginary numbers to show how an order turns into a position. It is an educational example, not a recommendation, and it ignores fees unless noted.
Read the market before looking at the price
Hypothetical question
Will the city transit project open by September 30?
- Outcomes
- YES or NO
- Trading closes
- September 30, 11:59 PM
- Resolution source
- Official transit agency notice
Turn your view into an order
Imagine the headline probability is 40%, the best YES bid is 39¢, and the best YES ask is 42¢. Buying immediately is likely to cost the ask—not the 40¢ headline price. You choose a limit price of 42¢ for 10 YES shares.
- Outcome
- YES
- Limit price
- 42¢
- Shares
- 10
- Estimated cost
- $4.20
- Maximum gross payout
- $10.00
- Maximum loss
- $4.20
Do the order math
Estimated cost
10 shares × $0.42 = $4.20
Gross payout if YES wins
10 shares × $1.00 = $10.00
Gross upside at resolution
$10.00 − $4.20 = $5.80
Actual totals can include trading fees and network fees. Use the order preview as the source of truth before signing.
Compare the possible outcomes
A position does not need to be held until resolution. You can try to sell earlier, but the price and available liquidity may have changed.
The figures above are before fees. Early exits assume all 10 shares fill at the stated price; a real order can fill partially or not at all.
Know what happened after you submit
Filled
Your order matched. The filled shares now appear in your position.
Open
No one has matched your limit price yet. Funds may remain reserved.
Partially filled
Only some shares matched. The remainder can stay open or be canceled.
Canceled
The unfilled portion is removed and its reserved balance is released.
Ready for the checklist?
Before using real capital, confirm the market rules, executable price, order size, maximum loss, fees, and wallet prompt. Starting small limits the cost of a mistake while you learn the interface.