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This guide explains how to submit trades using Kraken Desktop’s trading interface. Learn how to use the trading form and edit existing orders. In order to place an order, the Order Ticket Module must be added to your board.
How to use the Order Ticket
Below is an ordered list of the fields and functions found on the Order Ticket module:
- 1.Bid/Ask (yellow): Clicking one of these buttons will automatically fill in your Limit Price with the highest bid price, or the lowest ask price that is currently in the order book.
Note: The bid/ask buttons do not work for Market Orders.
- 2.Buy/Sell (orange):
Action
Function
BuyBuy an AssetOpen a long position (using leverage)SellSell an AssetOpen a short position (using leverage) - 3.Spot/Margin selector (green): Determines whether the order will be executed with spot balances, or an extension of margin. When margin is selected, a slider will appear where you may select the level of margin used.
Note: Margin trading is subject to geographical restrictions.
- 4.Order Type (light blue): Determines the order type for the trade.
- 5.Limit/Market Price (red): Determines the specific price for the order. With certain order types (e.g. Limit, Stop Loss, Take Profit), you are able to input a specific price into this field. If opening a market order, the best available price will auto-populate.
- 6.Quantity (dark blue): Determines the volume of the asset to be traded. For example, in the SOL/USD market, the Quantity field is where you put the amount of SOL you wish to buy or sell.You may enter the Quantity manually, use the balance percentage buttons, or the up and down arrows. A calculator is also provided for your convenience.
- 7.Est. Total (white): Calculates the total cost of the order. (Quantity x Price = Total)Trading fees are not included in this calculation. You can also use the Est. Total field as an input when creating your order. The Quantity field will automatically update as you adjust your Total.
- 8.Est. Fee (light brown): The estimated fee if your order executes. Hovering the tooltip (i) will display your current Maker and Taker Fees.
- 9.Other options (purple):Post-only: This prevents placing a limit buy order that instantly matches against the sell side of the order book (and vice versa for sell orders) which would result in taker fees. The order will either get posted to the order book or be cancelled, ensuring a maker fee when executed.Duration: Set the duration that your order may stay in the order book.OTO (Conditional Close): Creates an opposing order for closing a position at the same time that the order for opening the position is created. The conditional close order's direction is always opposite the primary order (e.g. if the primary order is a buy, the conditional close will be a sell).
The conditional close option creates a new order after the primary order triggers. It does not allow two trigger conditions for a single order.
- 10.Review and Buy/Sell (neon green): Once you are satisfied with your Order Ticket, you may click this button to review and submit your order. You can use this opportunity to review the order for any errors. Order reviews can be disabled in the module Settings menu, in the top-right of the Order Ticket. If you’d like to reset the Order Ticket entirely, click Reset located to the left of the button and all fields will return to default.Below those two buttons, there is an indicator which will display “Ready for order…” if the Order Ticket has been filled out. Or, it will let you know if there’s any issues preventing the order from being submitted. (For example, a Quantity of 0)
- 11.Open Orders/Margin Positions (pink): A quick glance at your current Open Orders and Margin Positions. Buttons are conveniently located here to cancel all Open Orders, or close all Margin Positions.
Viewing open orders on the Price Chart & Depth Chart
Price Chart
The Chart module will display your open orders as green (buy) or red (sell) circles attached to the Y-axis, at the price level your order is sitting at. In the example below, we have open orders at $170, $165, and $150.
Depth chart
The Depth Chart module will display your open orders as green (buy) or red (sell) circles on the X-axis at the price your open order is sitting at. In the example below, we have open orders at $170, $165, and $150.
Editing an order
Open orders can be edited via the Trade Activity widget by clicking on the pencil under the Actions column.
Note: Open orders must have an “Amount Filled” of 0 in order to be edited. If any amount of your open order has been filled, the order cannot be edited, only canceled.
After clicking the pencil icon, you’ll be able to adjust the quantity and/or price of your open order. After you are satisfied with the new parameters, you may click the checkmark to confirm your edits.
The Order Ticket module can be customized and tuned to your liking, for more information on Order Ticket settings, check out this article.