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

# Buy And Sell

> Place a market trade and read its result.

A market trade goes as soon as it can fill at the price available. It is the default way to trade in Dawn, and the fastest.

<Warning>
  **Tapping an amount sends the trade.** There is no separate confirm step on a normal buy or sell. Check the coin, the chain and the wallet before your finger is over a button.
</Warning>

## Before you tap

Four things decide what actually happens:

| Check                | Where                                                           |
| -------------------- | --------------------------------------------------------------- |
| The right **coin**   | The address on the panel                                        |
| The right **wallet** | The account line at the bottom of the panel                     |
| Enough **balance**   | The home screen, or the panel's account line                    |
| Your **slippage**    | [Trading settings](/settings/overview#trading), default **15%** |

## Buy a coin

<Steps>
  <Step title="Open the coin">
    Paste its contract address. Make sure the panel is on **Buy**.
  </Step>

  <Step title="Choose a size">
    Tap a dollar button — **\$1 · \$5 · \$10 · \$25 · \$50** by default — or **\$x** to type any amount.

    The minimum is **\$1**. Some bridged routes ask for more.
  </Step>

  <Step title="Watch the card">
    Dawn quotes, signs and submits. One card updates itself in place: **Buying** → **submitted** → **filled**.

    The finished card shows what you spent and what you received. The panel behind it updates with your new holding.
  </Step>
</Steps>

### Buying without opening the panel

With [Auto Buy](/settings/overview#auto-buy) on, pasting a contract address buys a fixed amount immediately, and the panel follows the trade card. It is off by default, and it spends money on a paste — turn it on deliberately.

## Sell a coin

<Steps>
  <Step title="Open your holding">
    Send `/portfolio` and tap the coin, or paste its address again.
  </Step>

  <Step title="Switch to Sell">
    The sell buttons are **shares of what you hold**, not dollar amounts — **10% · 25% · 50% · 75% · 100%** by default.
  </Step>

  <Step title="Choose a share">
    Tap one, or **x%** to type your own. **100%** sells the position out completely.
  </Step>

  <Step title="Read the result">
    The card shows the USDC you received. It goes back onto your balance, ready to spend again.
  </Step>
</Steps>

## Reading the result card

| Card                 | What it means                                                                            |
| -------------------- | ---------------------------------------------------------------------------------------- |
| **Buying / Selling** | Quoting and signing. Nothing has been sent yet.                                          |
| **submitted**        | It is on chain and filling. The card updates itself.                                     |
| **filled**           | Done. The amounts shown are what actually happened.                                      |
| **failed**           | It did not go through. Your USDC is back on your balance, and the card names the reason. |
| **unconfirmed**      | Dawn could not confirm how it ended. Check your wallet balance before trying again.      |

<Note>
  A failed trade is not a lost trade. When a fill would land outside your slippage, Dawn refuses it and returns the USDC rather than filling you at a worse price.
</Note>

## Why a trade gets refused

| Reason                            | What to do                                                                                                    |
| --------------------------------- | ------------------------------------------------------------------------------------------------------------- |
| Price moved past your slippage    | Raise [slippage](/trading/execution#slippage), or trade a smaller size.                                       |
| Not enough balance                | Deposit, or turn on [Auto-Adjust](/settings/guardrails#auto-adjust) to shrink the buy to what you can afford. |
| Buy would move the price over 30% | [Liquidity protection](/settings/guardrails#degen-mode) stopped it. The pool is too thin for that size.       |
| Below the minimum                 | The route needs more than \$1. The panel names the figure.                                                    |
| Gas above the sponsored cap       | Set a [Gas Surplus](/settings/guardrails#gas-surplus) limit, or wait for the chain to quieten.                |
| No route found                    | Nothing could fill it right now. Liquidity may have moved or been pulled.                                     |

## Selling everything at once

There is no bulk exit across coins. Sell each position from its own panel with the **100%** button.

If you want an exit that does not need you watching, set a [stop-loss or take-profit](/orders/tp-sl) instead.