Sporttrade has two different trading experiences, Simple and Advanced. Let's breakdown what each of these experiences mean.
Simple Trading is the default experience in the Sporttrade app and is recommended for all new and novice traders. In Simple Trading, you may buy shares on outcomes and sell shares on outcomes where you have an existing position.
If you don't have a position on an outcome, you will only see the Buy (Ask) listed for each outcome. If you have an existing position on an outcome (you've already bought in), you will see both the Sell (Bid) and Buy (Ask) spread for the outcome. Seeing both the Buy and Sell can give you a sense of what you can sell your position for, as well as gives you the opportunity to buy more.
Advanced Trading is only recommended for more experienced traders.
In Advanced Trading, you have the ability sell outcomes without already having an existing position. This is also known as "short selling" or "shorting" an outcome. More information on shorting an outcome.
To allow for this mechanic, outcomes within the Markets tab will always show both the Sell (Bid) and Buy (Ask), giving you option to enter into a position by buying (going long), or selling (going short).
There are some important things to remember when you own a short position:
- When you are short, you are effectively betting that the outcome will not happen. For instance, when you short the home team, you are expecting the away team to prevail.
- A short position will display as a negative quantity within your portfolio, and will appear with a tag indicating it is short.
- To close a short position, you must buy back the same position, which would bring your quantity back to 0.
Lastly, Advanced Trading also allows you to view the Last Trade Price when viewing outcomes in the Markets tab. The last trade price is the value of the last trade, whether bought or sold, of the outcome. Knowing the last trade price can help you be better informed of the direction a market is moving so you may time your entry or exit better.
Toggle on/off the ability to see the American odds conversion for all Buy prices of shares displayed in Sporttrade. The odds conversion is inclusive of a 2% commission on profitable trades. By default, the toggle for showing American odds is on when you first install the Sportttrade app.
Adjusting your trading experience
To adjust your trading experience:
- Navigate to the Account tab within the Sporttrade app
- Select Trading Experience
*Exchange wagering is not yet available in Colorado