> ## Documentation Index
> Fetch the complete documentation index at: https://docs.monofin.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# How trading works

> Every Monofin trade in three choices: side, size, multiplier — with the tools to manage it from entry to exit.

Whether it's an election market or a BTC perp, every trade on Monofin comes down to three choices. The ticket looks different for event markets and perps, but the logic is the same.

## The three choices

**1. Side**

Event markets: **YES** or **NO** on the outcome. Perps: **long** (price rises) or **short** (price falls).

**2. Size**

How much USDC you put behind the trade. Minimums are small enough to test a thesis before you scale it. On event markets, your size buys shares at the current price — your maximum loss is what you paid.

**3. Multiplier (perps only)**

Leverage, up to the market's maximum. Your collateral controls a position worth multiplier × collateral. Higher multiplier, closer liquidation price. See [Leverage, funding, and liquidations](/trading/leverage-funding-liquidations).

## Before you confirm

The ticket shows everything before you commit:

* **Entry price** and, for limit orders, the price you're willing to accept
* **Estimated liquidation price** (perps) — the level where your margin runs out
* **Itemized fees** — every fee on the trade, in dollars, not fine print
* **A plain-English risk line** — what you can lose, stated like a human

If your balance can't cover the trade, the confirm button tells you the exact shortfall — "deposit \$10.72 more" — and takes you straight to funding. No dead-end error states.

## After you're in

* **Take profit / stop loss.** Attach an exit when you enter. TP/SL applies to the whole position and cancels automatically when it closes.
* **Add or reduce.** Scale a position up or down without closing it.
* **Close anytime.** No lock-ups, no settlement windows — 24/7, including weekends and holidays. Close one position or all of them from Portfolio.

## Where to see it all

**Portfolio** is your command center: cash balance, open positions across event markets, perps, and RWA, open orders, Earn positions, and full transaction history.

> **[Order types](/trading/order-types)**
>
> Market, limit, and stop orders — when to use which.

> **[Fees](/trading/fees)**
>
> What Monofin charges, and how referrals cut it.


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