Kraken Pro Enhances Trading with New TP/SL Orders for Spot and Margin Trading
Kraken Pro has introduced a new feature that allows traders to utilize take profit and stop loss (TP/SL) orders across both spot and margin trading. This new feature adds flexibility and efficiency in managing trades by allowing traders to set profit targets and manage risks concurrently, utilizing the one-cancels-other (OCO) functionality. This update provides two modes: Simple and Advanced. Simple Mode facilitates ease of use with percentage-based exits and quick visual confirmations, whereas Advanced Mode offers comprehensive options with a full suite of order types. Available on both web and mobile platforms, this enhancement is set to streamline order management, allowing for precise execution and risk mitigation. It aids advanced traders in maintaining strategic consistency, reducing manual intervention, and consequently improving user experience.
Neutral
The introduction of take profit and stop loss orders by Kraken Pro is a significant enhancement in trading tools, aimed at increasing automation and precision in trade execution. This type of feature generally helps traders reduce risk and enhance strategy execution without directly influencing market prices or trading volumes. Hence, while it improves user experience and trading efficiency, it is unlikely to cause immediate bullish or bearish movements in the markets, thus maintaining a neutral impact overall.