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Trading guide
A guide for trading Binary options tokens on the Thales marketplace

To start trading Binary options tokens on the Thales marketplace, all you need is an Ethereum wallet with some sUSD stablecoins!

Step 1: Navigating to a market of choice

After launching the Thales dapp and connecting your wallet, there are two ways of accessing the individual markets and subsequently start trading:
Trending markets section shows the markets that are currently trending. You can access the one you are interested in by clicking on the View market popup that comes out when you hover your mouse above the market of choice.
Trending markets section

- Use the Markets overview

In the Markets overview section, you can see all the markets that are on the Thales marketplace. The default view is showing the markets that are currently in the Trading phase.
Markets overview section
Above the table that is showing the markets, there are 8 buttons that are representing different types of filters.
Filters
Short description of the functionality of each filter:
    My Markets - Displays the markets you created
    My Orders - Displays the markets you have open orders on
    My Assets - Displays the markets from which you own options tokens
    Watchlist - Displays the markets you added to your watchlist by clicking on the star
    found next to the markets asset name
    Recently Added - Displays the markets recently added to the marketplace
    Bitcoin - Displays all Bitcoin markets
    Ethereum - Displays all Ethereum markets
    Olympics - Displays all Olympics markets
After choosing your market of choice, click on it to navigate to its dedicated trading page.

Step 2: Start trading

Every module of the trading page is customizable in terms of size and position.
You change the size by using the resize button on the bottom right corner of the modules
You change the position by clicking and dragging the top parts of the modules

THE DASHBOARD

On top of the Trading page you are greeted with a dashboard showing:
    The name and symbol of the market asset (the name is also a hyperlink that routes to the Etherscan market contract link)
    Strike price of the market with added percentage showing the difference between current and strike price at the given moment
    Current price of the market asset
    Deposited sUSD
    Time remaining until market maturity
    Current result showing is the market maturing LONG or SHORT with current price of the asset
    Current phase the market is in (Trading, Maturing, Expired)
Market dashboard example located on top of the trading page

- Customize view button

On the top left corner, above the dashboard there is a Customize view button, that allows you to customize the trading page by selecting or deselecting different sections of the page. The Reset layout button resets the trading page to the default setting.

- Trade Long options and Trade Short options buttons

Under the market dashboard, there are two big buttons: Trade Long options and Trade Short options
With these two buttons, you choose what you want the Orderbook and Trade sections to display, the sLONG trading or the sSHORT trading.
Locations of Trade Long options and Trade Short options buttons

THE ORDERBOOK MODULE

After choosing sLONG trading or sLONG trading, the Orderbook section displays all of the open orders at the current moment.
Default location of the order book module
    On top of the order book there are 4 different filters for displaying orders:
    1.
    Shows all the BUY and SELL orders
    2.
    Shows only BUY orders
    3.
    Shows only SELL orders
    4.
    Show only the orders you've created
On the far right side there is a X button that hides the orderbook. If you want the orderbook to become visible after clicking it, use the Customize view button on the top left corner of the page to bring it back.
    If you want to fill a specific order on the order book, you can click on individual orders and do just that! After selecting the order you are greeted with a window showing the Order details, input field AMOUNT TO BUY where you enter the amount of options tokens you wish to purchase and a gas price drop-down menu where you chose the gas price for your transaction.
Pop-out window for filling individual orders

TRADE MODULE

The trading module has three pages: Limit, Market and Mint. They are accessed by their respected buttons on the top part of the module.
Default location of the Trade module
    LIMIT
The limit order page enables you to put BUY/SELL limit orders on the order book.
Layout of the Limit page on the Trade module
    1.
    First you need to pick if you want to put a BUY or a SELL order by using the ORDER TYPE drop-down menu.
    2.
    After that step, you need to choose the price for your order. Select a price between $0 and $1 for your order by using the slider or by manually entering the price in the PRICE PER <options token type>: input field.
    3.
    The next step is to enter the amount of options tokens you wish to BUY/SELL by using the AMOUNT TO BUY input field. You can also use the 25% 50% 75% 100% percentage buttons below the input field.
    4.
    The next step is to enter the amount of options tokens you wish to BUY/SELL by using the AMOUNT TO BUY input field. You can also use the 25% 50% 75% 100% percentage buttons below the input field.
    5.
    After that, you have the option to set an expiration time for your order. The default setting is for your order to expire at the trading expiration period. If you wish to change that setting, click on the EXPIRES IN: dropdown menu and pick between 10 minutes, 1 hour, 1 day, 1 week or the default value At trading period expiration.
    6.
    Next and final step is to click on the Approve sUSD button if you don't have your sUSD approved already and after that click on the Submit order button and your orders are officially on the order book!
    MARKET
Market trade section allows you to market BUY/SELL options tokens from the order book. Market orders are transactions meant to execute as quickly as possible at the current market price, filling up the adjacent orders from the order book.
Layout of the Market page on the Trade module
    1.
    First you need to choose if you want to put a BUY or a SELL order by using the ORDER TYPE drop-down menu.
    2.
    After that, enter the amount of options tokens you wish to BUY/SELL by using the AMOUNT TO BUY input field.
    3.
    Third step is to select your slippage tolerance by using the 0.5% and1% buttons or by manually entering the slippage percentage in the input field next to the buttons. This setting is used so your market buy transaction reverts if the price changes unfavorably by this percentage during the confirmation of the transaction.
    4.
    The final step is to choose a Gas price for your transaction, click on the BUY/SELL button and confirm the transaction.
    MINT
The minting page allows you to mint sLONG and sSHORT options tokens by depositing sUSD and subsequently providing liquidity to the chosen market. You get an equal amount of sLONG and sSHORT option tokens proportionate to the amount of sUSD you deposited minus the 1% Minting fee (0.5% goes to the creator of the market and 0.5% to the fee pool).
Layout of the Mint page on the Trade module
    1.
    The first step for minting options tokens would be to enter the amount of sUSD you are willing to deposit into the AMOUNT input field on top of the Mint page. After the input, you get a message showing you how many LONG and SHORT options tokens you will receive after the 1% minting fee is subtracted.
    2.
    Next step (optional) is using the SELL MINTED LONG/SHORT OPTIONS section. This section is useful if you want to place sell orders for your options on the order book at the same time your options are minted. If you want enable and set sell orders for your minted sLONG options tokens, check the box next to the green slider and if you want to enable and set sell orders for your sSHORT options tokens, check the box next to the red slider. You can set the price for your sell orders by using the slider or by manually entering the price on the PRICE PER SLONG: and PRICE PER SSHORT: input fields. Next up you want to put the amount you wish to sell on the AMOUNT TO SELL: input fields and your sell orders will be deployed at the time of minting!
    3.
    Third step in minting the options tokens for the selected market is to select the Gas price for your minting transaction by choosing between Average, Fast and Fastest options (pulled from gasnow.org) or by manually entering your desired gas price in the CUSTOM input field in the Gas price drop-down menu.
    4.
    One final step is to click to click Approve to approve sUSD to be spent by Thales (if you haven't done this step previously), click on the Mint button that appears in the same place and confirm the transaction!

TRADING VIEW MODULE

The Trading View module is a simple widget showing the detailed price chart of the asset you are trading. The default settings are 1D Time interval with Bar's style set to Line. These settings are all fully customizable.
Default location of the Trading view module

OPTIONS PRICE CHART MODULE

The Options price module is a simple chart showing the price movement of sLONG and sSHORT options tokens of the current market in the function of time. Price of sLONG token is represented with the green line, while the price of sSHORT token is representet with the red line.
Default location of the Options price module

RECENT MARKET ACTIVITY MODULE

Recent market activity module shows a list of all recently executed Trades or Mints. You can filter the list to show only Mints by clicking on the Mint button and you can filter the list to show only trades by clicking on the Trades button. You can also see every Mint or Trade individualy on Etherscan by clicking on the hyperlinks in the TX STATUS column on the far right.
Default location of the Recen market activity module

YOUR ACTIVITY MODULE

Your activity module has the same functionality as the Recent market activity module, but with a key difference that it only shows your own Mints and Trades (only shows Mints and Trades associated with the currently connected wallet). You can filter the list to show only Mints by clicking on the Mint button and you can filter the list to show only trades by clicking on the Trades button. You can also see every Mint or Trade individualy on Etherscan by clicking on the hyperlinks in the TX STATUS column on the far right.
Default location of the Your activity module
Last modified 2mo ago