> ## Documentation Index > Fetch the complete documentation index at: https://docs.basedapp.com/llms.txt > Use this file to discover all available pages before exploring further. # Trading > Introduction to trading within the Based App **Based is currently in Testnet!** Do not send real funds to your account. Service availability may be limited and bugs are expected. If you notice any errors or bugs, please [reach out](https://basedapp.com/discord) to the team. Read more about the testnet [here](/app/testnet). All posts in Based are tradable. The current sentiment regarding any particular post is indicated by the "Based-o-Meter" – a real-time sentiment indicator. ## Based-o-Meter The Based-o-Meter ("BoM") is the lifeblood of Based. The current BoM of a post is indicated by the number inside the glass-bubble at the bottom of the screen. Based-o-Meter BoM values range from `-100` to `+100`. All posts start at 0. A higher value means people think the post is Based, a lower value that people think it is Cringe. For example, a value of `+69` would be very Based, whereas a value of `-20` would be somewhat Cringe. In some screens, BoM is indicated by this icon: Open position ## Cringe or Based? Your mission, should you choose to accept it, is to determine how Cringe or Based a post is. There's no *right* or *wrong*, there's only what everyone else thinks. To be successful, you need to understand everyone else's sentiment. If a post is trading at `-20` but you think it deserves to be at `+35`, you should open a Based position. If you think the same post should actually be even more cringe, say `-80`, you should open a Cringe position. ## Opening a Position To open a position, simply click the BoM and choose whether you'd like to side with Cringe or Based. Select the amount and click "Confirm trade". ## Viewing Open Positions When browsing the feed or searching for posts, the BoM turns blue if you have a position in the particular post. Open position You can also find your open positions by navigating to your profile (rightmost tab) and selecting "Open". ## Timing, Entry, and Exit Timing, entry, and exit are everything. Positions do not close automatically. You should always try to have a view of where a post should be trading. This helps you close positions at the correct level and cut your losses early if you were wrong about what others think of a post. **Timing** is important because the initial reaction to a post might be opposite of where it should actually be. Culture changes quickly and so do people's reactions. What might have been based just a day ago might be quite cringe tomorrow. Understanding the reactions, counter-reactions, and cyclicality of culture is core to good timing. You don't need to agree, you just need to be right. **Entry** is one of the most important decisions you can make. Getting into a clearly Cringe post while it is in its early innings near 0 is much better than getting into the same post later. Your profits (and losses) are determined by the amount the BoM value changes while you have a position in it. **Exit** is also important. If a post starts drifting to the opposite direction of what you thought, you might be in for a nasty surprise. Re-evaluate, and cut your losses early if you do not have the conviction. **Profit** is a function of the entry and exit levels into a position. Here are a few numerical examples of the profits and losses you might be looking at, depending on your entry, exit, and direction for a \$10 buy: | Entry | Exit | Direction | Profit/Loss | | ----- | ----- | ----------------------------------------- | ----------- | | `-66` | `-33` | Based | +\$10.03 | | `-58` | `-31` | Cringe | -\$4.04 | | `-10` | `+10` | Based | +\$0.30 | | `-10` | `+30` | Cringe | -\$1.89 | | `+0` | `+50` | Based | +\$6.39 | | `+0` | `-90` | Cringe | +\$83.53 | | `-90` | `+62` | Based | +\$195.41 | | `-90` | `-95` | Cringe | +\$8.53 | | `-95` | `0` | Cringe | -\$9.45 | *Illustrative profit & loss estimates on a \$10 position for various entry and exit values (net of fees).* These estimates are provided for illustrative purposes only and are calculated on the basis of parameters used as of 20 Oct 2025. Parameter changes, which are expected during Based Beta, may impact the estimates. The further out from zero the BoM swings, the more profit (and loss) there is to be made. If you have huge balls, you trade huge swings.