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How It Works : Making Trades
Part 2 : The Action
Placing a wager requires 4 components:
- 1.The "open" command (/open)
- 2.Choosing a direction (long or short)
- 3.The index name (e.g. xci)
- 4.Amount to wager in dollars (e.g. 1200)
**TIP : Go long if you think the price will go up, go short if you think the price will go down.
1st way:
/open long {index name} + {insert dollar amount without dollar sign}
/open short {index name} + {insert dollar amount without dollar sign}
This opens a long or short position for a specific dollar amount.
2nd way:
/open long {index name} max
/open short {index name} max
This opens a long or short position with the maximum amount of money in your account
It's the same process for closing a position:
- 1.The "close" command (/close)
- 2.Choosing a direction (long or short)
- 3.The index name
- 4.Amount of shares you have (*check portfolio if unsure)
1st way:
/close long {index name} + {insert number of shares}
/close short {index name} + {insert number of shares}
This action closes a specified amount of shares in either a long or short position on that index .
2nd way:
/close long {index name} max
/close short max {index name} max
This action closes ALL the shares held in either a long or short position on that index.
His profit will be reflected in his portfolio balance.
Use the /portfolio command to check your some key metrics around your trades.
/portfolio
This is your consolidated view of your current balance and your profit/loss ratio.
For a more specific view, you can call the portfolio command for a specific index you have active long or shorts.
/portfolio + {index abbreviation}
***
More indices to come!
- Brand-Specific Indices (e.g. Jordan, Yeezy)
- TBC
Last modified 8mo ago