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This read is designated to explore all the order types while trading through Kraken login- A crypto exchange friendly for both novice and seasoned crypto traders.

If you are also a newcomer in the crypto realm and getting trouble in understanding the terminology of Kraken’s order book. This read is carved for you, so understand every order precisely. Let’s get started.

Get to know about order types

• Price terminology: It includes 5 subtypes which are listed and explained below.
• Last Traded Price: The price at which the most recent order was placed on the market.
• Index Price: It is the CF benchmark provided price for the market.
• Market Price: It is the lowest bid to buy orders or the highest ask price to sell orders.
• Best Average Market Price: It is the weighted price of the best bid which is able to fill orders.
• Limit price: It is the price used in order to make a limit order fulfil or better.

• Limit and market orders: A limit order enables you to purchase or sell at a predetermined price that you choose, depending on how the market performs, this price may occasionally be better. And, market order’s purpose is to purchase or sell at the best price listed in the order book.

• Stop loss orders: When the price of an asset reaches a predetermined price, known as the stop price, a stop loss order enables you to purchase or sell.

• Stop loss limit orders: You determine the price at which the order expires is called the stop price. Two prices must be set for this type of order- Limit price and Stop price of Kraken login order.

• Take profit orders: When the most recent traded price reaches the profit price you designate, a take-profit order is triggered.

• Take profit limit orders: Take-profit orders are frequently used to create goals for positions and safeguard your earnings. Two separate prices must be established in order to use this order: Profit price and Limit price.

• Market Price Protection: A feature known as "Market Price Protection" guards against market orders completing at the wrong price as a result of price slippage in a thinly traded or dynamic market.

Conclusion

Kraken crypto exchange is known for its sophisticated features and state-of-art security facets. It has quite an intuitive interface which is helpful for newcomers but if they are new to the crypto realm they might find difficulties in understanding the crypto jargon and technicalities.

Kraken login users might get confused about order types while trading through this exchange, so here I have elaborated on every order type precisely to clear all of the doodah.