To modify an existing pipeline or create a new one, click on the Pipeline dropdown menu and select New Pipeline or Edit Pipeline.
On the dialog, you can set the Name of the pipeline, which is how the pipeline is referred to throughout Propeller
You can also set the stages and their default probabilities.
When you change the stage of an opportunity, it will automatically update the probability to the default probability if you have one set. This makes it easy to represent that you are more confident about winning since it's further along in the process.
If you need to add stages, rearrange them, or remove them, you can do that too
Note that you do not need to create your own Won or Lost stages - those are automatically created for you.