Kraken contract trading tutorial

To start contract trading on Kraken, create an account, fund it through various methods like bank transfer, credit card, or cryptocurrency, and proceed to placing buy or sell orders for specific contracts based on price, expiration date, and margin requirements.

Nov 14, 2024 at 09:17 am

Kraken Contract Trading Tutorial

Step 1: Create a Kraken Account

1. Visit the Kraken website and click on the "Create Account" button.
2. Fill out the registration form with your personal information, including your name, email address, and password.
3. Once you've filled out the registration form, click on the "Create Account" button.
4. Kraken will send you an email to verify your account. Click on the verification link in the email.
5. Once you've verified your account, you can start trading on Kraken.

Step 2: Fund Your Kraken Account

1. Once you've created a Kraken account, you'll need to fund it in order to start trading.

2. There are a few different ways to fund your Kraken account, including:

   • Bank transfer
   • Credit card
   • Cryptocurrency
3. To fund your account using a bank transfer, click on the "Funding" tab in your Kraken account. Then, select "Bank Transfer" from the list of funding options.
4. Enter the amount of money you want to deposit and the bank account information.
5. Kraken will provide you with instructions on how to complete the bank transfer.
6. To fund your account using a credit card, click on the "Funding" tab in your Kraken account. Then, select "Credit Card" from the list of funding options.
7. Enter the amount of money you want to deposit and the credit card information.
8. Kraken will process your credit card information and deposit the funds into your account.
9. To fund your account using cryptocurrency, click on the "Funding" tab in your Kraken account. Then, select "Cryptocurrency" from the list of funding options.
10. Enter the amount of cryptocurrency you want to deposit and the cryptocurrency wallet address.
11. Kraken will provide you with instructions on how to complete the cryptocurrency transfer.

Step 3: Place a Contract Trade

1. Once you've funded your Kraken account, you can start placing contract trades.
2. To place a contract trade, click on the "Contracts" tab in your Kraken account.
3. Then, select the contract you want to trade.
4. On the contract trade page, you'll see the contract's price, the contract's expiration date, and the contract's margin requirements.
5. To place a contract trade, enter the number of contracts you want to buy or sell.
6. Then, click on the "Buy" or "Sell" button.
7. Kraken will process your contract trade and fill the order at the market price.

Step 4: Manage Your Contract Trades

1. Once you've placed a contract trade, you can manage it in the "My Trades" section of your Kraken account.
2. In the "My Trades" section, you'll see a list of all of your open and closed contract trades.
3. You can also view the profit or loss on each of your contract trades.
4. To close a contract trade, click on the "Close" button.
5. Kraken will close the contract trade at the market price.

Step 5: Withdraw Your Profits

1. Once you've made a profit on your contract trades, you can withdraw your profits from your Kraken account.
2. To withdraw your profits, click on the "Withdrawal" tab in your Kraken account.
3. Then, select the currency you want to withdraw and the amount of money you want to withdraw.
4. Kraken will process your withdrawal request and send the funds to the specified address.