Users Frustrated by Kraken Pro's Trading Failures | Can’t Use Stop Loss and Take Profit?
Edited By
Samantha Lee
A growing number of people are voicing concerns over the inability to set both stop loss and take profit orders on the Kraken Pro app. This issue has generated confusion as users encounter repeated error messages while attempting to manage their crypto trades.
Major Issues Highlighted by Users
People have reported that when they try to set a stop loss lower than the price they want to sell at, the app prevents them from executing their orders. For instance, one user who bought a coin for 10 euros plans to sell at 14 euros but faces a roadblock when trying to set a stop loss at 8 euros. The error message reads: “Stop loss should be higher than primary order price.”
This contradiction has led to frustration, with many wondering why a feature deemed basic is poorly implemented.
Confusion Over Functionality
Many users pointed out that on the Kraken Pro application, "you can’t attach both a take profit and a stop loss to the same order." This limitation locks up their funds, essentially making it impossible to manage multiple trades effectively.
Another user described their experience with the SOL trading pair: "I can't seem to get it to work," when attempting to set both sell conditions simultaneously.
Workarounds Discussed
Commenters recommended using OCO (One Cancels the Other) orders or managing trades manually, given the current limitations. However, some users express skepticism about whether these workarounds are viable, noting:
“What a stupid (dis)function…”
Others urge caution, suggesting checking if a user might be in a short trade, which affects their ability to set stop losses correctly.
Sentiment and Analysis
The overall sentiment skews negative as users grapple with the technical hurdles and ineffectiveness of the app's trading features. Many suggest that fundamental changes are necessary to enhance usability and ensure that traders can protect their investments effectively.
Key Insights:
😡 Frustration is high over basic trading limitations.
⚠️ Users feel locked out of reasonable trading strategies.
🌟 A few suggest possible workarounds, but many remain doubtful.
Users eagerly await updates from Kraken to address these pressing issues as trading conditions remain challenging.