How to lock a position in Kraken contract

Locking a position in a Kraken contract enables you to secure your unrealized profits or losses and prevent further value fluctuations in the position.

Nov 13, 2024 at 07:59 am

How to Lock a Position in Kraken Contract

Locking a position in a Kraken contract allows you to secure your unrealized profits or losses and prevent further changes in the position's value. This article will guide you through the steps on how to lock a position in a Kraken contract.

Step 1: Log in to Your Kraken Account

To lock a position, you must have an active Kraken account. If you do not have an account, go to Kraken.com and create one. Once you have logged into your account, click on the "Futures" tab on the top menu bar.

Step 2: Navigate to the Positions Page

On the Futures page, click on the "Positions" tab in the left-hand menu. This will display all your open positions.

Step 3: Select the Position You Want to Lock

From the list of open positions, identify the position you want to lock. Click on the position to view its details.

Step 4: Click on the "Lock Position" Button

On the position details page, you will see a "Lock Position" button. Click on this button to proceed.

Step 5: Confirm the Lock

A confirmation dialog box will appear, asking you to confirm the lock. Before you confirm, make sure that you understand the consequences of locking your position. Once you confirm the lock, you will not be able to make any changes to the position until it is unlocked.

Step 6: Check the Locked Position

Once the position is locked, it will be displayed in the "Locked Positions" section on the Positions page. Locked positions are marked with a lock icon.

Step 7: Unlock a Locked Position (Optional)

If you wish to unlock a locked position, simply click on the position and select the "Unlock Position" button. You will need to confirm the unlock before it takes effect.

Additional Information

• Locking a position does not affect your profits or losses. It only prevents further changes in the position's value.
• You can only lock positions that are in the "Open" or "Margin Call" status.
• Once a position is locked, it cannot be modified or closed until it is unlocked.
• You can lock multiple positions at the same time.
• There is no limit to the number of times you can lock and unlock a position.