# How to place an order

> How to buy or sell contracts on an STX market using the Order Slip, and how YES and NO outcomes settle.

Source: https://help.stxapp.io/articles/place-an-order/

Each market is a question with a YES or NO outcome. You can buy or sell contracts on it.

- **Buy** if you think the outcome will be YES.
- **Sell** if you think the outcome will be NO.

For a binary contract with a $1 settlement value, a contract normally pays $1 if the outcome is YES and $0 if it is NO. Read the contract's terms in its **Rules** tab; special settlement provisions may apply. See [Outcomes and settlement](https://help.stxapp.io/articles/outcomes-and-settlement/).

## Placing the order

1. Select a market and the contract you want to trade.
2. In the **Order Slip**, choose buy or sell, enter your price and the number of contracts.
3. Review the **Cost** and **Payout** shown, then select **Place Order**.

An order becomes a trade only when it is matched and executed. Check the order status after you submit it. See [Trading and orders](https://help.stxapp.io/articles/trading-and-orders/) for how orders are matched, partly filled and cancelled.

## What it costs

You must have enough cash in your account to cover the maximum loss on the position. For example, at a price of $0.40:

- **Buying** 10 contracts costs $4.00. If the outcome is YES, they pay $10.00.
- **Selling** 10 contracts costs $6.00 ($1.00 minus $0.40, per contract). If the outcome is NO, they pay $10.00.

Fees apply; see the [Fee Schedule](https://help.stxapp.io/articles/fee-schedule/). These examples do not predict an outcome.