Confusion Rules | Users Question Stop Loss and Take Profit Features in Kraken Pro
Edited By
Maxim Petrov
A growing number of people are expressing frustration over the limitations of the Kraken Pro app, specifically its inability to apply both stop loss and take profit orders simultaneously. Users argue that what seems like a basic feature is causing significant transaction issues and preventing effective trading strategies.
What's the Issue?
Several users have reported difficulties when attempting to set up their trades. The error message stating that "Stop loss should be higher than primary order price" leaves many scratching their heads. One user highlighted a scenario where they bought a coin for 10 euros, wanting to set a take profit at 14 euros and a stop loss at 8 euros, only to run into barriers.
"What a stupid function" one commenter vented in a heated response.
Interestingly, users in forums describe their frustration in detail, with some expressing an understanding of the issue but still finding it confounding.
Key Insights from User Experiences
Trading Restrictions: Users cannot attach both a stop loss and a take profit to the same order, causing complications as each order locks their full balance.
Manual Workarounds: A common suggestion among users includes employing OCO (One Cancels Other) orders, though many were unsure if this option was even available on the platform.
App Bugs: Some believe they may be experiencing a bug in the app, particularly those who try to close trades at odd prices.
A frustrated trader shared, "You should be able to have both stop loss and take profit running without a problem unless you are having a bug specific to your app."
User Sentiment
The feedback appears mainly negative, with many feeling let down by the platform's functionality. Comments reveal a blend of confusion and anger over these limitations, as users expect to manage their risks effectively.
Key Takeaways
🔍 Limitations in Kraken Pro: Users can't combine stop loss and take profit orders.
🛠️ Workarounds Proposed: Many suggest using OCO orders or managing trades manually.
📉 Frustration in Trading: A sentiment of dissatisfaction permeates user discussions, showcasing a pressing need for improved functionality.