The 'My Basket' acts likes a shopping basket on an online retailer's site - you can add items to it as you browse the catalogue. But there are two important thing to note:
1. You don't need to be logged in to add an item to your basket, and
2. Your basket is emptied each time you leave the site.
So, if you want to keep a note of items and come back to them later you need to use the 'My Lists' function.