How to Use Advanced Orders on Kraken? Trading Tutorial

Understanding Advanced Order Types

1. Limit orders allow users to specify the exact price at which they wish to buy or sell an asset. Execution occurs only when market conditions match the defined parameters.

2. Stop-loss orders trigger a market order once a predefined price level is reached. This mechanism helps mitigate potential losses during sudden price movements.

3. Take-profit orders automatically execute a sale when the asset reaches a target value. Traders use this to lock in gains without manual intervention.

4. Stop-limit orders combine features of both stop and limit orders. A stop price initiates the order, while a separate limit price controls execution boundaries.

5. Trailing stop orders adjust dynamically as the market moves favorably. The offset distance remains fixed, but the trigger price follows price action in real time.

Navigating the Kraken Pro Interface

1. Access Kraken Pro by logging into your verified account and selecting the “Kraken Pro” tab from the top navigation bar.

2. Choose a trading pair such as BTC/USD or ETH/USD from the market selector dropdown menu located above the order book.

3. Locate the order entry panel on the right side of the interface. It displays fields for price, size, type, and time-in-force settings.

4. Select “Advanced” from the order type dropdown to reveal extended options including stop price, limit price, and trail amount inputs.

5. Input precise values for each required field. The system validates entries before submission and highlights invalid configurations in red.

Setting Up a Trailing Stop Order

1. In the Kraken Pro order panel, choose “Trailing Stop” under the order type section.

2. Enter the desired position size in base currency units—e.g., 0.05 BTC—not fiat equivalents.

3. Define the trailing amount either in absolute terms (e.g., $200) or percentage (e.g., 1.5%). The platform enforces minimum thresholds based on asset volatility.

4. Specify whether the order should be triggered on bid, ask, or last traded price. Default behavior uses the last traded price for activation.

5. Click “Place Order” after verifying all fields. The order appears in the “Open Orders” section with live updates reflecting current trail status.

Managing Conditional Orders Post-Submission

1. Open orders remain visible under the “Orders” tab until filled, canceled, or expired. Each entry includes timestamps, status indicators, and modification options.

2. To edit a pending stop-limit order, click the pencil icon next to its row. Adjustments to stop or limit prices are permitted unless the stop has already been triggered.

3. Canceling an active trailing stop does not affect realized profits or losses—it only halts future automatic adjustments.

4. Partially filled orders retain their original conditional logic. Remaining quantity continues to follow the same rules unless manually altered.

5. Expired orders disappear from the active list but remain accessible in the “Order History” tab for up to 90 days.

Frequently Asked Questions

Q: Can I place multiple trailing stop orders on the same asset simultaneously?Yes. Kraken permits concurrent trailing stops across different positions, provided margin requirements are met and total exposure stays within account limits.

Q: Do advanced orders work during weekend hours?Yes. Kraken operates 24/7, and all conditional orders function continuously regardless of day or time, including weekends and holidays.

Q: Is there a fee difference between market and advanced orders?No. Fees are determined solely by trade volume tier and order side (maker/taker), not by order type selection.

Q: What happens if my stop price matches the bid/ask spread exactly?The system executes based on the configured trigger source. If set to “last traded price,” execution follows that value; if set to “bid” or “ask,” it aligns with respective liquidity levels.