Kraken Stop Loss - how to do it

[zypa]

Dear Guys,

I hope I am not opening a thread in the wrong portion of the forum, but could you help me on how to use the stop loss function in Kraken exchange? I tried once, wrongfully and it closed automatically my positon. I lost some money, but hey, that is how you learn.
Thanks and best regards

[squatz1]

Kraken is notorious for this sort of thing, and at this point, I would just pack up and go. No one knows how to use it without the exchange having a mind of it's own, as it usually will just make its own orders even after you canceled or something like that. I don't know how people trust an exchange that does this.

Use something more reliable, like Gdax? Bittrex, anything else.

Also, for curiosity sake, how much did you lose cause of Kraken being shit?

[xaxistech]

there is no way that you could set a stop loss in altcoin markets, no matter in what kind of exchange are you trading, this doesnt work like a stock market or forex market, you have to trade by yourself.. remember that you are buying altcoins and then exchangin them for anothers, it is upto you if you take profit from that operation.
so if you want to put a stop loss, then you will have to control the price by yourself and sell when you want.

[pinkflower]

there is no way that you could set a stop loss in altcoin markets, no matter in what kind of exchange are you trading,

Wrong! You can set it with Poloniex, Bittrex and yes, Kraken. But its very confusing in Kraken because theres a lot of order types.

zypa, the best way to do it on Kraken is to use Stop Loss Limit and set the price where the sell order should acvtivate and then at what price you want to sell.

[zypa]

There is no such order type. If you go to advance and click buy then you have Conditional close With options: market, settle,  llimit.
So I should buy at 10 and set Conditional close at 9 for example? That means stop loss at 9?
Thanks

there is no way that you could set a stop loss in altcoin markets, no matter in what kind of exchange are you trading,

Wrong! You can set it with Poloniex, Bittrex and yes, Kraken. But its very confusing in Kraken because theres a lot of order types.

zypa, the best way to do it on Kraken is to use Stop Loss Limit and set the price where the sell order should acvtivate and then at what price you want to sell.

[Serpens66]

Kraken disabled all "advanced" ordertypes like stop loss.
So you can not place a stop loss at kraken at the moment.
And even if it would be possible,  it would be very unlikely that it would work like intended because of the messy trading engine from kraken.

Use another exchange until they fixed their stuff.

[zypa]

ok thanks

[pinkflower]

Kraken disabled all "advanced" ordertypes like stop loss.
So you can not place a stop loss at kraken at the moment.
And even if it would be possible,  it would be very unlikely that it would work like intended because of the messy trading engine from kraken.

Use another exchange until they fixed their stuff.

I was not aware of this. Sorry zypa, I should have logged in my account and checked. I havent used Kraken for months now since BTC > BCC hard fork.

If your coin or token is listed in Bittrex, then go use that. Its much better and the siteruns faster than Kraken.

[sixis]

kraken is a shit, i lost a lot of money due to missing stop loss in advanced order.
i'm going to take a look at bittrex and withdraw all

[Kraken-Septimus]

Kraken disabled all "advanced" ordertypes like stop loss.
So you can not place a stop loss at kraken at the moment.
And even if it would be possible,  it would be very unlikely that it would work like intended because of the messy trading engine from kraken.

Use another exchange until they fixed their stuff.

Stop loss and take profit are back at Kraken!

The following currency pairs are also available as of now:

XRP/CAD
XRP/JPY
EOS/EUR
EOS/USD
XLM/EUR
XLM/USD
GNO/EUR
GNO/USD
REP/USD
ZEC/JPY

If you haven't tried Kraken in a while we'd suggest stopping by and seeing how smooth trading is since we had a trading engine upgrade in January. Also, be sure to check out our new trading interface at trade.kraken.com.

If you need anything else please drop by our Bitcointalk thread.

[asche]

Do you plan on adding trailing stop loss anytime soon?