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How It Works : Making Trades

Part 2 : The Action

1. Placing A Wager (2 ways)

Placing a wager requires 4 components:
  1. 1.
    The "open" command (/open)
  2. 2.
    Choosing a direction (long or short)
  3. 3.
    The index name (e.g. xci)
  4. 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

EXAMPLE: Radric thinks the Culture Index will increase in value over the next week. He decides to throw $800 in a long position.

Radric types /open long xci 800 to open his position at the current index price.

2. Closing a Position (2 ways)

It's the same process for closing a position:
  1. 1.
    The "close" command (/close)
  2. 2.
    Choosing a direction (long or short)
  3. 3.
    The index name
  4. 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.

EXAMPLE: One week has gone bye and the Culture Index has increased by 20%. Radric decides it's time to close his long position and collect his profit. He types /close long xci 5 to close his position of 5 shares of the Culture Index and collect his bag.

His profit will be reflected in his portfolio balance.

3.Checking Your Portfolio

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}

4. LFG

***
More indices to come!
  • Brand-Specific Indices (e.g. Jordan, Yeezy)
  • TBC
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Last modified 2mo ago