Cryptocurrency trading requires accuracy, speed, and strategic risk management. Kraken Pro’s new right-click feature allows customers to place limit and stop orders directly on cryptocurrency charts for more intuitive and less error-prone trading.
This upgrade aims to improve the trading process, allowing you to take immediate action based on chart analysis without having to navigate or manually enter detailed order information each time.
Why chart-based order placement is important
Setting limit and stop-loss orders directly on the chart makes it simple and accurate to avoid mistakes like accidentally selecting the wrong order type or buy/sell direction when manually entering order forms. By interacting directly with the chart, you can ensure that your orders accurately reflect your analysis and intentions.
Intuitive entry and exit
Right-click trading improves your ability to plan your trades by visualizing entry and exit points directly on the chart. With a simple right-click action, you can set: Sell Limit or Buy Stop Loss higher than the current price Buy Limit or Sell Stop Loss Below that, you adjust your trading settings based on market analysis in real time.
Example scenario: MOON/USD
If traders believe that the MOON/USD pair is on the verge of hitting a new all-time high, they may choose to capitalize on this momentum. You can do this through strategic placement. Buy order limitr is the level of support stop buy order Slightly above the breakout price to capitalize on the expected uptrend.
For a practical demonstration of how to set up two types of orders on a chart using the new right-click feature, see the examples in the video below.
Take advantage of advanced features for informed trading
Kraken Pro’s right-click trading with limit and stop orders enhances your trading toolkit along with the ability to set price alerts directly from the charts. This integration not only simplifies the trading process, but also allows you to make quick, informed decisions, minimizing the risk of input errors and allowing you to continually adapt to market movements as they occur.
Explore a new dimension of intuitive trading with Kraken Pro and take full advantage of chart-based order placement and price alerts for an efficient and accurate trading strategy.
These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken does not and will not seek to increase or decrease the price of any particular cryptocurrency it offers. Some cryptocurrency products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be levied on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.