How to view open contracts on Kraken?

How to View Open Contracts on Kraken?

Kraken, one of the leading cryptocurrency exchanges, offers a variety of trading options, including futures contracts. If you are actively trading futures on Kraken, it is crucial to keep an eye on your open contracts to manage your positions effectively. This article will guide you through the steps to view your open contracts on Kraken, ensuring you have a clear understanding of your current positions.

Logging into Your Kraken Account

Before you can view your open contracts, you need to log into your Kraken account. Here is how you can do it:

• Open your preferred web browser and navigate to the Kraken website.
• Click on the 'Log In' button located at the top right corner of the homepage.
• Enter your email address and password in the respective fields.
• Click on the 'Log In' button to access your account.

Once you are logged in, you will be directed to your Kraken dashboard, where you can access various trading tools and account features.

Navigating to the Futures Trading Section

To view your open contracts, you need to navigate to the futures trading section of Kraken. Follow these steps:

• From the Kraken dashboard, hover over the 'Trade' menu at the top of the page.
• Select 'Futures' from the dropdown menu. This will take you to the futures trading interface.

The futures trading interface is where you can manage your futures positions, including viewing your open contracts.

Accessing Your Open Contracts

Once you are in the futures trading section, you can easily access your open contracts. Here is how:

• Look for the 'Positions' tab on the futures trading interface. It is usually located near the top of the page.
• Click on the 'Positions' tab to open the positions overview.

In the positions overview, you will see a list of all your current futures positions, including your open contracts. Each open contract will display essential information such as the contract type, entry price, current price, unrealized profit/loss, and other relevant details.

Understanding the Information Displayed

It is important to understand the information displayed for each open contract to manage your positions effectively. Here is a breakdown of the key details you will see:

• Contract Type: This indicates the type of futures contract you have open, such as perpetual or quarterly futures.
• Entry Price: This is the price at which you entered the futures contract.
• Current Price: This is the current market price of the futures contract.
• Unrealized Profit/Loss: This shows the potential profit or loss on your open contract based on the current market price.
• Margin Used: This indicates the amount of margin currently being used to maintain your open contract.
• Liquidation Price: This is the price at which your position will be automatically closed if the market moves against you.

By understanding these details, you can make informed decisions about managing your open contracts.

Managing Your Open Contracts

Once you have viewed your open contracts, you may want to take actions to manage them. Here are some common actions you can take:

• Close a Position: If you want to close an open contract, you can do so by clicking on the 'Close' button next to the contract in the positions overview. This will initiate a market order to close your position at the current market price.
• Adjust Margin: You can adjust the margin on your open contracts by clicking on the 'Adjust Margin' button. This allows you to add or remove margin from your position, which can affect your liquidation price.
• Set Stop-Loss/Take-Profit Orders: To manage your risk, you can set stop-loss and take-profit orders on your open contracts. These orders will automatically close your position when the market reaches a specified price.

By actively managing your open contracts, you can better control your exposure to market fluctuations and potential losses.

Using the Kraken Mobile App

If you prefer to manage your open contracts on the go, you can use the Kraken mobile app. Here is how to view your open contracts using the app:

• Download and install the Kraken app from the App Store or Google Play Store.
• Log into your Kraken account using your email address and password.
• Navigate to the 'Futures' section by tapping on the 'Trade' menu at the bottom of the screen and selecting 'Futures.'
• Tap on the 'Positions' tab to view your open contracts.

The mobile app provides a user-friendly interface that allows you to view and manage your open contracts from your smartphone or tablet.

Frequently Asked Questions

Q: Can I view my open contracts on Kraken without logging in?

A: No, you need to log into your Kraken account to access the futures trading section and view your open contracts. This is a security measure to protect your account and trading positions.

Q: How often should I check my open contracts on Kraken?

A: It is recommended to check your open contracts regularly, especially during periods of high market volatility. Depending on your trading strategy, you may want to check your positions daily or even more frequently.

Q: Can I view historical data for my open contracts on Kraken?

A: Yes, Kraken provides historical data for your trading activities, including open contracts. You can access this data by navigating to the 'History' tab in the futures trading section.

Q: Is there a way to receive notifications about my open contracts on Kraken?

A: Yes, you can set up notifications for your open contracts through the Kraken mobile app. Go to the app settings and enable notifications for futures positions to receive alerts about significant changes in your open contracts.