How to use Foresight
Guide to navigating and using Foresight.Exchange
Teddy Seers choosing Yes or No in their orderbooks
On Foresight.Exchange, you can trade directly on front page just by clicking Yes or No and then make a Market Order on the Orderbox.
Front page with all the available Markets
The market prices for Yes or No are displayed on their respective sides. Everything on the website is color coded so that Yes will always mean Blue and No will always mean purple. Once you buy a ticket from a certain side, the opposite side will turn into a Sell button giving you the option to sell your ticket.
Owning Yes or No on Foresight is similar to being long or short a futures contract. If you end up with both, as many matching pairs as possible will automatically be redeemed for $1 each. Only the larger of your two balances will persist. If you have Yes tickets and you want to have No tickets instead, you will have to sell all your Yes tickets first and then buy the No tickets.
Choosing Yes. When you own a Yes, the No becomes 'Sell' Don't worry, Selling Yes is the same as Buying No!
Choosing Yes or No will bring down a drop down that will reveal the Orderbox, Rules, open interest and the Market end date. On mobile, only the Orderbox and shortened pieces of info will show. On the front page, you can only place market orders. This way, you can get instant fills. To set a limit order, you'll have to go to Details Page
Choosing No. You can click back and forth to see your potential profits
The UI was designed so you can seamlessly play around with the Yes and No buttons and click around to see what price you want to trade at. As soon as an order goes through, a badge will appear on the market showing you the amount of tickets that you own.
There's an input box for the amount of tickets you want to buy on 'How many Yes?' and 'How many No?' Feel free to use decimal places to get your preferred exact price. You can also sell back your tickets once you own them on the same box.
Going to Detailed mode: You can easily go to the Details Page (or detailed mode) by clicking on the Question, Info Icon, Discussion Icon, or Details Button on the front page markets. On desktop, the screen will split similar to a book with questions on the left and details on the right. On mobile, you will leave the front page and go to the Details Page
An Orderbook and an option to change the Order Type in the Details Page. On the orderbook, Size are on the outer columns and Price on the inner columns.
On detailed mode, you'll see
- An Orderbook
- An option to change your Order type to Limit Order
- More in depth rules
- Open order that you've made
- and an area to comment and discuss!
A new box called 'limit price' will show up once you change the order type to a limit order.
You can change between Market Order or Limit Order in Detailed mode. A new box will appear where you can input your ideal ticket price. There is also an orderbook full of orders other people have placed so you can better decide the price you can execute at.
Once you've made an order, it will show up in Open Orders (if it hasn't been filled) while the order is waiting to be filled. You have the option to cancel your open orders. When your orders are filled, congratulations! You now own Yes or No tickets.