Cryptocurrency trading requires precision, speed and strategic risk management. Kraken Pro's new right-click functionality allows customers to place limit and stop orders directly from the chart of a cryptoasset for more intuitive and less error-prone trading.
This upgrade aims to refine your trading process, enabling immediate action based on chart analysis without the need to step away or manually enter detailed order information each time.
Why chart-based order placement is important
The ease and accuracy of setting limit and stop loss orders directly on a chart can help you avoid errors that sometimes occur when entering the order form manually, such as inadvertently selecting the wrong type order or wrong direction of purchase/sale. By interacting directly with the chart, you can ensure that your orders correctly reflect your analysis and intentions.
Intuitive inputs and outputs
Right-click trading improves your ability to plan trades by viewing entry and exit points directly on the chart. With a simple right click you can set a limited sale or stop loss purchase above the current price or a limit buy or stop loss sell underneath, aligning your trading setup with your real-time market analysis.
Example scenario: MOON/USD
If a trader believes that the MOON/USD The pair is poised to hit new all-time highs, they could choose to capitalize on this momentum. This can be done by placing a strategy limit purchase orderr at support levels and a stop-purchase order slightly above the breakout price, with the aim of capitalizing on the expected uptrend.
For a hands-on demonstration on how to set up both order types from the chart using our new right-click functionality, see the example in the video below:
Use advanced features for informed trading
Kraken Pro's right-click trading for limit and stop orders, plus the ability to set price alerts directly on the chart, enhances your trading toolkit. This integration not only simplifies the trading process, but also allows you to make quick and informed decisions, minimizing the risk of entry errors and keeping you up to date with market movements as they occur. produce.
Explore new dimensions of intuitive trading with Kraken Pro and take full advantage of chart-based order placement and price alerts for efficient and accurate trading strategies.
These materials are intended for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, stake or hold any crypto-asset or to engage in any trading strategy. specific trading. Kraken does not and will not endeavor to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection programs. The unpredictable nature of crypto-asset markets can result in losses of funds. Tax may be payable on any returns and/or increases in the value of your cryptoassets and you should seek independent advice on your tax situation. Geographic restrictions may apply.