> For the complete documentation index, see [llms.txt](https://docs.strixlab.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.strixlab.io/getting-started/place-your-first-trade.md).

# Place Your First Trade

With USDC in your wallet, you're ready to take your first position. Here's the full flow — it takes about a minute.

One thing worth knowing before you start: **the most you can ever lose on a position is what you paid for it.** If your side turns out wrong, your shares settle at $0 — that's the full extent of the downside. There's no way to lose more than you put in.

### The five steps

{% stepper %}
{% step %}

### Find a market

Browse the homepage or use search to find an event you have a view on. Click it to open the market page — you'll see the price chart, the order book, and the trade panel on the right.
{% endstep %}

{% step %}

### Pick a side

Decide whether you think the outcome will happen (**Yes**) or won't (**No**). Each side has its own price, and the two always add up to roughly $1 — the small gap between them is the market's spread, the difference between the best buying and selling prices at that moment.
{% endstep %}

{% step %}

### Choose an order type

* **Market order** — buy immediately at the best price currently available. Simple and instant.
* **Limit order** — set the exact price you're willing to pay. Your order waits in the order book until another trader matches it — which may be seconds, hours, or never, if the market doesn't reach your price.

**New to this? Start with a market order.** You can explore limit orders once you're comfortable — full details in [Order Types](https://docs.strixlab.io/trading/order-types).
{% endstep %}

{% step %}

### Enter your amount

Type either how much USDC you want to spend or how many shares you want to buy. The panel shows everything before you commit: your total cost, the shares you'll receive, any fee, and your potential return if the outcome happens (shown as **"To win"** in the panel — that's your share count × $1).
{% endstep %}

{% step %}

### Confirm

Click **Buy**. Your order is confirmed and submitted — a market order completes in seconds. Your new position appears in your **Portfolio** immediately.
{% endstep %}
{% endstepper %}

That's it. You now hold shares that settle at **$1 each** if the outcome you backed happens — or that you can sell at any time before the market settles.

### Selling and closing out

You're never locked in. To exit a position, open the same market, switch the trade panel to **Sell**, and sell your shares at the current market price — to take a profit if the market has moved your way, or to limit a loss if it hasn't. You don't have to wait for the real-world outcome.

### Keep learning

<table data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><strong>How Markets Work</strong></td><td>Yes/No markets, multi-outcome events, and how prices form.</td><td><a href="/pages/v2RMbL303VZN7xfMEdTJ">/pages/v2RMbL303VZN7xfMEdTJ</a></td></tr><tr><td><strong>The Order Book</strong></td><td>See exactly who's buying, who's selling, and at what prices — and how to use that to trade smarter.</td><td><a href="/pages/P41FIEoigrkDPQ1RaTJS">/pages/P41FIEoigrkDPQ1RaTJS</a></td></tr><tr><td><strong>Fees</strong></td><td>Exactly what you pay, and when.</td><td><a href="/pages/aP0SP0REFim16kgDsS8t">/pages/aP0SP0REFim16kgDsS8t</a></td></tr></tbody></table>


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