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Order statuses
When a stop loss limit’s stop price or take profit limit’s profit price has been met and the order becomes active, the order will be in the new and open order section with the status of ‘triggered’ until the volume is filled or the order is cancelled by the client.
On Kraken Terminal the order will be visible in the Orders section with both prices visible.
When trading using the API, you will not see a ‘Triggered’ status. The misc flag would be either ‘stopped’ for stop loss or ’touched' for take profit.
Order books
Kraken operates on the Central Limit Order Book (CLOB) style, where orders are matched based on Price/Time priority.
Here's an example:
To view the Order Book, sign in to your Kraken account and navigate to the Trade tab. Under the New Orders tab you can click on Order Book.
For example, using the above image of an order book, if someone placed a market buy of 1.645 BTC the market price would display as €3,155.6, however the average price paid would be €3,156.96.
The bid/ask spread chart available for Kraken markets only shows the spread between the highest limit buy order and the lowest limit sell order (plotted over time). A market order will fill in this gap if there are matching market orders of the opposing type sufficient to fill it. Otherwise it will fill, at least in part, using limit orders of the opposing type.
Here's an example from the BTC/USD-market:
Here's an example from the BTC/USD-market:
Margin Trading
For example, a trade balance of 10,000 USD increases your buying power to 50,000 USD when trading using margin and using 5x leverage.
When trading using margin you are using Kraken’s funds to place orders, as opposed to directly using the funds deposited or held in your account.
To open a spot position on margin, you need to select a leverage between 2x and 5x from the Intermediate or Advanced order tab when creating a New Order.
Not all currency pairs on Kraken can be traded using margin.
Availability of margin trading services is subject to certain limitations and eligibility criteria.
The decimal and thousands separators shown in this article may differ from the formats displayed on our trading platforms. Review our article on how we use points and commas for more information.