Bitcoin Forum

Hey,

I would like to make a new order with "take profit" in Kraken. I want my order to be closed as soon as the profit is 10%. How do I do it in Kraken?  ???

I see that Kraken has take profit in two places
A) Primary Order
B) Conditional Close

The image below show what I mean
https://imgur.com/KEdjfTa


What is the difference between these take profit?

Thanks.

Use Primary Order for placing your buy order and Conditional Close for placing your sell order.

Assume that you want to buy 1 bitcoin once the price reaches 18,500 dollar and sell it at 20,000 dollar.
You must set the limit price in primary order section at 18,500 dollar and the limit price in conditional close section at 20,000 dollar.

Once the price reaches 18,500, your buy order is executed and a sell order at 20,000 dollar will be created.

Visit the link below for more information.
Kraken - Other order options (https://support.kraken.com/hc/en-us/articles/203053246-Other-order-options#:~:text=A%20conditional%20close%20limit%20order,of%20XBT%20has%20reached%20%2410%2C000.)

@hosseinimr93 Thanks for good reply  :)

I appreciate if you could also reply these questions
A) I would like to do some Bitcoin demo trades on Kraken before I do live trades. As I see, Kraken does not offer demo account. What is the best way for me to do?

B) Is there an online fee calculator? I would like to have a better understanding for the fees with the leverage.

Let me answer these questions with direct links:
AFAIK, there is trading bots which can calculate the exact rollover fee, trading fee before opening the trade.

A) https://support.kraken.com/hc/en-us/articles/360026192132-Test-demo-accounts
B) https://support.kraken.com/hc/en-us/articles/201893638-How-trading-fees-work-on-Kraken