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

# Placing an order

> A tour of the order slip — buy or sell Yes/No, market or limit, with fees and payout shown.

You place every trade through the **order slip**. It looks the same on Kalshi and Polymarket, on web and desktop, in demo and live — learn it once, use it everywhere.

It's built into the [Event Viewer](/panels/event-viewer), opens as its own panel with <kbd>/</kbd> → `ORD`, and pre-fills when you click a price in the order book or **Sell** on a position.

![Order slip showing market, account, side, contract, order type, slippage, and amount](https://cdn.getpanther.app/docs/web-order-slip.png)

## Anatomy of the slip

Top to bottom:

### Market & account

The **Market** row shows exactly what you're trading (with a **Switch** control to change markets within the event). Below it, the **Account** row shows which account and venue the order routes through — with a **Live** badge so you always know whether this is real money or [demo](/accounts/demo-mode). Switch accounts here or in [Balances](/accounts/switching).

### Side and contract

* **Buy** opens or adds to a position; **Sell** reduces or closes one.
* **Yes / No** picks the outcome, each showing its live price in cents.

### Order type

| Type       | Behavior                                              | Available           |
| ---------- | ----------------------------------------------------- | ------------------- |
| **Market** | Fills immediately at the best available price         | Kalshi & Polymarket |
| **Limit**  | Rests in the book; fills only at your price or better | Polymarket          |

For limit orders you set the price in cents (1–99) — or click a level in the order book to start from there. Kalshi trades are market-only in on-chain trading.

### Max slippage (market orders)

Thin books mean a market order can fill beyond the quoted price. The slippage row caps how far you're willing to go: **Auto**, a fixed **1¢ / 2¢ / 5¢** buffer, or a custom value. The **"Est. fill ≤"** readout shows your worst-case price before you commit.

### Amount

Enter your size in **dollars** or flip the toggle to **contracts** (the `$` / `#` buttons). Quick-add buttons (**+**$1, +$**20, +\$100**) build size fast, and **Max** sizes against your available balance.

<Note>
  Polymarket enforces a **\$1 minimum** order size.
</Note>

## Review and submit

The slip shows your estimated cost, fees, and potential payout. Hit **Review**, confirm, and the order goes out — fills come back in seconds with a toast (and a satisfying sound). Your position appears immediately in the [Portfolio](/accounts/balances-portfolio).

For limit orders that don't fill immediately, the order rests in the book — track and cancel it from Portfolio's **Resting** tab.

## Gates you might hit

<AccordionGroup>
  <Accordion title="Asked to sign in">
    Browsing is open to everyone; trading needs an account. The slip prompts you to [sign in](/accounts/sign-in) if you're not.
  </Accordion>

  <Accordion title="Kalshi buys need identity verification">
    A one-time [identity check](/trading/identity) unlocks Kalshi buying. Polymarket has no such requirement.
  </Accordion>

  <Accordion title="Insufficient balance">
    Orders draw from the active account's balance on that venue. [Add funds](/accounts/deposits), or practice in [demo mode](/accounts/demo-mode) first.
  </Accordion>

  <Accordion title="Venue temporarily paused">
    Occasionally a venue's trading is paused for maintenance — the slip tells you, and the other venue keeps working normally.
  </Accordion>
</AccordionGroup>

## What's next

<Columns cols={2}>
  <Card title="Managing & closing positions" icon="scissors" href="/trading/positions">
    Take profit, cut losses, cancel resting orders, redeem winnings.
  </Card>

  <Card title="Reading a market" icon="glasses" href="/learn/reading-a-market">
    Judge spread and depth before you size up.
  </Card>
</Columns>