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

# Trading flow

> How to browse, quote, trade, and manage positions on Bayse

## 1. Browse events

List available events filtered by category, status, or search terms:

```bash theme={null}
GET /v1/pm/events?category=sports&status=open
```

See [Finding markets](/concepts/events-markets-outcomes#finding-markets) for more filtering options.

## 2. Get quote

Before placing an order, get a quote to see the expected price:

```bash theme={null}
POST /v1/pm/events/{eventId}/markets/{marketId}/quote
{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100
}
```

**Response:**

```json theme={null}
{
  "expectedPrice": 0.6532,
  "expectedShares": 153.12,
  "fee": 2.50,
  "total": 102.50
}
```

## 3. Place order

Execute the trade:

```bash theme={null}
POST /v1/pm/events/{eventId}/markets/{marketId}/orders
{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100
}
```

## 4. View portfolio

Check your positions:

```bash theme={null}
GET /v1/pm/portfolio
```

## Positions and orders

**Positions** are your holdings in a specific market outcome:

* **Shares** — number of shares owned.
* **Average price** — average price paid per share.
* **Current value** — current market value.
* **Unrealized P\&L** — profit/loss if sold at current price.

**Orders** are instructions to buy or sell shares:

* **Side** — buy or sell.
* **Outcome** — which outcome to trade.
* **Amount** — how much to spend/receive.
* **Status** — pending, filled, cancelled.

See [Order lifecycle](/concepts/order-lifecycle) for details on how orders execute and progress through statuses.

## Minting and burning

In a binary market, a YES share and a NO share form a **complementary pair** — exactly one of them will pay out. This means a pair is always worth \$1.00 (or ₦100 in NGN markets).

**Minting** lets you deposit funds and receive equal YES and NO shares. For example, depositing \$10 gives you 10 YES shares and 10 NO shares. This is useful when you want to sell one side on the order book while keeping the other.

**Burning** is the reverse — you surrender equal YES and NO shares and receive funds back. For example, burning 10 shares returns \$10. This is useful for converting positions back to cash when you hold both outcomes.

Neither operation affects market prices, since both sides are created or destroyed equally.

See [Mint shares](/api-reference/pm/mint-shares) and [Burn shares](/api-reference/pm/burn-shares) for the API endpoints.