> For the complete documentation index, see [llms.txt](https://robindog.gitbook.io/robindog-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://robindog.gitbook.io/robindog-docs/10-narrative-combo-positions.md).

# 10 Narrative combo positions

A Narrative Combo Position lets a user express two views through one trading path: a view on the event outcome and a view on the direction of a related asset.

| Participation mode      | Position structure                            | View expressed                                       |
| ----------------------- | --------------------------------------------- | ---------------------------------------------------- |
| YES only                | YES event position only                       | The event will occur.                                |
| NO only                 | NO event position only                        | The event will not occur.                            |
| Bullish narrative combo | YES plus a long position in the related asset | The event will occur and drive the asset higher.     |
| Bearish narrative combo | NO plus a short position in the related asset | The event will not occur and the asset will decline. |

A future professional mode may also support YES plus short, where the event occurs but the positive outcome was already priced in, and NO plus long, where the event does not occur but the bad news was already reflected in the price.

## Funding principles

The event position and asset-direction position are funded separately. The same collateral will not be reused without disclosure.

For example, a user allocating 100 USDG may place all 100 USDG into YES, allocate 60 USDG to YES and 40 USDG to a long position in the related asset, or choose another allocation.

Before confirming a trade, users should be able to see:

* The allocation between both positions.
* Total asset exposure.
* Potential return.
* Maximum possible loss.
* Slippage.
* Funding rates and liquidation risk, where applicable.

## Independent settlement

A correct event forecast does not guarantee a correct directional trade.

| Event forecast | Asset direction | Combined outcome                                                 |
| -------------- | --------------- | ---------------------------------------------------------------- |
| Correct        | Correct         | Both positions may be profitable.                                |
| Correct        | Incorrect       | The event position profits while the directional position loses. |
| Incorrect      | Correct         | Directional profit may offset part of the event-position loss.   |
| Incorrect      | Incorrect       | Both positions may lose.                                         |

RobinDog will not market Narrative Combo Positions as a free add-on return or a guaranteed way to earn twice.

Predict whether it happens. Trade whether the market rises or falls after it does.


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