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welcome in this video we're going to be placing live trades on the kraken exchange using leverage i'm going to walk you through what margin is used margin margin call we're going to also go through leverage we'll take a look at
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liquidations as well and how all of that is calculated in this video all right if you're new to the channel then welcome my name is shallower and i'm a full-time elliot wave trader in the crypto market since 2017.
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i help traders just like you create a full-time income without working the full-time hours and i do this by having you master a proven elliott wave system that i've created that's unlike anything else out on the market so if you're interested in learning more then i invite you to come check out a
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free webinar i've put together on three major breakthroughs and trading to creating a full-time income that you can find at tradethewave.com links will be in the description down below hope to see you there now as we first come into crack and exchange here this
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is the interface that we'll be on and i'm just going to give a brief overview as the main functions that you're most likely going to use we're going to be practicing and executing live trades today on the terminal which you will find up
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here in the four square box and you can click on crack in terminal and that will pop up another screen with the interface that we'll be using to actually place the live trades in today's video another way to trade is by hitting this trade tab in the top left
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button in the screen i never trade with this way here however if you find it to be easier you're welcome to explore that realm as well other than that you've got your funding tab which is where you're going to be able to deposit your
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crypto and find your addresses there as well as set up your fiat deposits and do wire transfers i'll probably do a separate video explaining that and then lastly you've got your support which is going to come in very handy
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here especially once you want to really master and understand the fee structure of kraken margin leverage and also like minimum position sizes and so forth i'm going to do my best in this video to break it
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down very simply for you a lot better than they do in their support tickets let's go ahead and dive on in all right as you pull up your terminal this is the interface that you're going to see here by kraken and it might be the same colors it might
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be different you can change those colors in the top right where it says sign out there's little bars here you can change the color format if you'd like and we can change the asset that we're trading on by looking over to the left side here bitcoin usd is what we're on currently
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and we're on a three minute time frame and we can change this by typing in the ticker symbol or searching for it and through here so for each for example i can trade any of the east uh pairings and right now you can see
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that i'm on sell this is where all the trading is going to take place in today's video i'm going to walk you through market limit settle position stop loss take profit all these orders i'm going to do live for you guys i'm going to show you how to do the
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conditional close as well and i'm going to show you how to use leverage close leverage out and i'm going to talk to you about liquidation and margin call as well which and how that is calculated by
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kraken so that you don't uh run into doing some stupid stuff so with that being said the first thing we need to do here is that i've got my base currency is bitcoin so we're gonna go ahead and sell some of my current or my bitcoin that i
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actually own so in this case we can just type in .003 and as you can see here it comes out to 107.81 so we're not on any leverage here we
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have none as leverage we have market which means that we're executing a market order okay and what that means is that it's going to buy it at whatever the market price is which is typically this middle price right here and you can see that changing frequently
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right here because it's going with whatever the market price is so in this case here we can go ahead and say review and sell always review this to make sure that you didn't type in and get fat fingers and do too big of a position or too
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small of a position it's happened to me before so make sure to double check yourself and now we can go ahead and say confirm sell and right over here you're going to see this little red button uh dot pop up and that right there signals
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that we made a cell on the chart so you can and when we buy it'll be a green one so you can see where we're buying and selling at and kind of keeping track of that progress there so now that i've sold some bitcoin i can go over here to buy and you can
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see my usd is now 107.5 and so in this case here now what i'm going to do is i'm going to be able to buy bitcoin which we're going to do at spot so spot just means that we're buying the actual asset we're not using any
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leverage or borrowing money in order to buy the underlying asset such as bitcoin in this case so right now we can go ahead and we can type in .001 and now this is gonna buy 35 and 91 cents
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worth of bitcoin at market price which is 35913 and matches that fairly well with this over here um or whatever somebody is selling it to we're looking to buy it okay so that is our market order we can review and let's go ahead and confirm
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that by and now you can see if we zoom in over here okay so see it manual allows us to move the chart around like this and then we can zoom in and out here as well so we've got bitcoin now so now let's go ahead and let's do a limit order
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and we're still going to do this at spot so we're not using levers just yet and what we're doing here now is limit is a specific price that we want to buy it at so let's say that we come over here to the chart and we want to buy
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bitcoin down here at 35 672 we're gonna type in here that we want to buy point zero zero one bitcoin at thirty five thousand seven hundred sixty two dollars exactly okay and you can see this little green
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uh icon that's lighting up over here is where that price lies at for us so let's go ahead and we're going to say review and buy and that would confirm our buy now i'm going to go back though here real quick and i want to show that
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conditional close is how we set up our stop loss underneath that so what i mean by this is let's say that we want to buy here at 35 762 but if price goes below
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35 and 400 then we want to sell at a loss in order to in order to minimize our loss because we think the price is going to go even further if it does that it is very very intelligent and smart to use stop losses
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so don't underestimate their power it's just important to have a strategy that works for how to set them we've got a when we do this part here we have to set it as a stop loss you don't want to do a limit or else you're going to buy and then immediately sell
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so make sure it's an actual stop loss and then you're going to place that down here at 35400 and we're just going to type that in manually and so here we would sell it for 35 dollars and 40 cents which means we would take a loss
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of 36 cents from here to here so now we're going to go ahead and we're going to review and buy okay we're going to confirm that by and now you can see that this green dot is solidified on the chart here which shows
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that we have a buy order that is sitting there and now when this triggers and it's actually activated a red circle is going to pop up down here at thirty five thousand four hundred dollars and that will show us that a stop loss is there
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vice versa when this buy limit order is triggered here at four point zero zero one at 35 762 when that is triggered and we purchase bitcoin right here then another order is going to pop up
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which is that conditional close okay and that is your stop loss so we don't want to exit that but we want to have that there now i'm going to do a a live setting of this here where real quick
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let's go ahead and cancel this or buy order and let's just go ahead and set a stop loss for some of the bitcoin that i have right now we want to say sell because right now i
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have physical bitcoin and if the price starts to drop below say thirty six thousand dollars then i wanna sell so let's go ahead and we're gonna set a stop loss we're just gonna do this at spot we're
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gonna type in .001 and we're going to do the price here at 35 000 and the 35 600 is where our stop loss is going to go we're going to hit review and sell okay confirm that we have a
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stop loss we're placing at 35 and 600 and now you can see that red dot right there this is our stop loss that is now on kraken so if price comes plummeting down on us right now then this would trigger and we would sell
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point zero zero one bitcoin or roughly thirty five dollars because we are insight that the price would go down even deeper so that's what it looks like when it actually shows up and what it looks like down here in the channel as well so we can go
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ahead and we can cancel that and what we're looking at now is we've learned how to set a stop loss up here we've learned how to set a stop loss as a conditional close the next thing i want to do is do a
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conditional close that is a take profit so what that means is let's say that we buy we have bitcoin right now and so we are going to do a let's do a limit order we're going to
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buy bitcoin okay we're going to buy bitcoin at 35 and 800. so if price comes down to 35 800 we're gonna buy do that the other way so 35 800 we're going to buy that and then
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we're going to hit here and we want to sell it as a take profit limit okay so take profit limit means that we get a do a take profit at a specific price so see how it allows us to actually put the price in
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so take profit now is going to be at let's say we want to sell it at 37 000 okay so we're going to buy it at 35 800 and we're going to sell it at 37 000 and our limit price
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is going to be basically like the trigger price so in other words when it reaches thirty seven thousand and ten dollars we're gonna sell it for thirty seven thousand that way we can get an immediate buyer for it and we
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don't miss out on it so now we can go ahead and do review and buy and we can hit confirm by double checking that our total is right and we've got the right quantity in there so confirm now you can see here we've got our buy
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order down here at 35800 okay and the moment that triggers it's going to place a sell order up here at 37 000 to sell it and in the hopes that price moves back up okay so you're basically setting up
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your entire trading plan this way but the problem with kraken interface here and spot price is that when we have spot we can't we can't place a take profit and
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a stop loss at the same time so notice that this order right now has a buy entry at 35 800 and we have a cell price all the way up at the top here but we don't have anything underneath us protecting us
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so there's nothing no stop loss underneath us that says hey if price just keeps on dropping we need to sell okay and that's where the third party software that i use comes into comes in handy where
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we can set up an entire trade with multiple take profit areas as well let's go ahead and we'll get rid of this trade off the off the books here now and just to recap what we've gone over we know that a market order executes that market price we know how
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to buy and sell bitcoin at spot price for market we know how to do it as a limit order which means that we set a specific price we've talked about stop loss which it prevents us taking on too big of losses we've talked about
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take profit which means that we are going to exit a position at a certain price um to the ups so take profit limit is the same thing it's just that you have a specific price that you want it to be triggered at which means
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if bitcoin hits 37 000 trigger might take profit and sell my take profit at 36 990 okay that way you can immediately get a sell for it whereas if you only just do a specific
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price sometimes you run into the fact that you don't have a seller for what you're trying to buy it at or you don't have a buyer for the exact specific price that you're trying to sell it at whereas if it was just 10 cents or 50 cents or
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two dollars cheaper you would have had a buyer or seller for it so let's go ahead and move into leverage next and talking about margin and what that is and i'm going to go through an example first and foremost here which
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should break it down very very simply all right i'm going to walk you through this example here and then we're going to do it in the charts as well just to make sure that you really get a clear understanding as to how liquidation a margin call works what it is and
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how to prevent it from happening to you so let's say that you have five thousand dollars in cash this is on the exchange you have five thousand dollars that's your entire account size you don't have any more money than that we're going to use the leverage of 5x that's the max
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amount of leverage that kraken will allow you to use on this exchange so what that means is that kraken will allow you to use five times how much money you have which in this case is five thousand dollars so we're going
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to use all of it we're going to open up a position for 25 000 and our used margin is now going to be 5 000 because that's all of our account money
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and we can only use 5x of that account size and therefore we've used a twenty five thousand dollar position so all of our money is now used up so our used margin is five thousand which means that our collateral is also five thousand dollars which
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means that we are putting up five thousand dollars to kraken and they can start to liquidate us if the price of bitcoin or whatever asset you're trading starts to drop too much to where your losses are greater than or
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equal to your collateral or your used margin in this case they're basically the same thing so bitcoin is selling at twenty five thousand dollars so our position buys us one bitcoin so we own one bitcoin
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at twenty five thousand dollars but we only have five thousand dollars in cash kraken is loaning us the other twenty 000 okay so kraken will start to margin call is what is called or begin liquidations when eighty
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percent of your collateral is used up remember our collateral is five thousand dollars that's all the money we have so if eighty percent of that gets eaten up
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so in other words if bitcoin drops from twenty five thousand dollars down to twenty four thousand dollars then eighty percent of our five thousand dollars is gone we we we've lost it
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and so at that point kraken alerts you and says hey you're getting close to losing all your money so you need to close out your positions to relieve some of that loss or we're going to start closing them out for you
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in order to protect our capital that we loaned you kraken will not take a loss for the twenty thousand dollars that they loaned you and you have to pay that twenty thousand dollars back so kraken will take it into their own hands
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that if you even get close within eighty percent of losing that five thousand dollars they will start closing out positions automatically for you so that they don't lose any money they don't care if you lose your five
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thousand dollars uh they just won't are not gonna lose any of the twenty thousand that they put up okay so if bitcoin drops four thousand dollars then kraken is going to liquidate your open positions or ask you to in an
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effort to relieve losses so that you're able to pay back kraken for the money you borrow so hopefully this makes sense and let's go in and actually look at this in the charts to kind of go through a visual representation all right all right so if you want grab
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a calculator and you can walk through this with me here but we're going to use ethereum as an example ethereum right now is going for 1 525 and let's just say that that is our cash
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that's how much money we have exactly so we have enough money to buy ourselves one ethereum at spot price but that's not good enough for us we want to take on some risk and we want to buy five ethereum so we
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want to have 5x leverage in order to be able to buy five ethereum total rather than just the one that we can buy with our own cash so we're going to borrow funds from kraken in order to buy
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that five ethereum now in order to do this here we have 15.25 which means that five times that is 7625. is the position that we're going to have so if that's our position then that means
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that 1 525 we cannot lose any more than 80 of that or else cracking is going to start margin calling us and start liquidating our positions so we're going to take
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whatever our cash position is we're going to take 1525 times 0.8 and that's going to come out to 1220 so 80 of 1525
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is 12 20. so at this point we're gonna basically can't lose any more than one thousand two hundred twenty dollars okay well if we have a six seven thousand six hundred and twenty
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five dollar position and we can't lose any more than one thousand two hundred twenty which means that take a look at ethereum being at fifteen twenty five right here okay and for each ethereum we have that
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equals one and we have five of them so we're going to multiply our loss by five basically so every time each moves down say ten dollars it's really fifty dollars because we have five ethereum right so in this case here if we can't
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lose more than 1220 then we're gonna divide that number by five and that's going to be 244 dollars which means that ethereum cannot drop any more than 244 dollars from 1525. so
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there it is so 16 drop which means that if we have five ethereum at 1525 that we buy and ethereum drops all the way down to
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1280 roughly then kraken is going to say alert alert you're coming up on losing all your money so you either need to start closing out your positions because we're not going to risk losing
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ours or we're going to close them out for you so hopefully this makes sense as to what margin call is in liquidation how leverage impacts this and really heightens up the losses as well whereas if you only bought one ethereum
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here then ethereum would basically have to go all the way to you know would have to drop 100 in order for you to lose everything which would be very difficult to do so but in using 5x leverage it only has to drop 16
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for you to be completely liquidated all right so we're back here over at the terminal now you guys understand hopefully what margin is what leverage is and how you can be liquidated and what the calculations are for that we've gone through
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a life example in the chart and we also went through the slideshow one as well and so now what we're going to do is we're going to actually execute a leveraged trade and we're going to take this leverage bar here we're going to move it to 5x we're going to do market order for this
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okay mark it and we're just going to go ahead and we can place in our funds here we have 1126 dollars that we can spend so we're just going to go .001 okay and we're going to buy a 36
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worth of bitcoin and we're using 5x leverage which means my collateral is only one-fifth of 36. okay so my collateral is only one-fifth of 36 which is roughly
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seven bucks is what my collateral is sitting so that is going to be my used margin which means that seven dollars if we start to go to eighty percent of seven
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dollars which is roughly like 550 then cracking is going to alert me and say hey start liquidating your position so we're going to do it for you so very easy way to do that math you get much quicker and better at it as well and now we're just going to go ahead and
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we're going to do a conditional close we're going to set a stop loss so we're going to buy bitcoin on 5x leverage at market price and we're going to set a stop loss at say 35 400
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and we're just going to go ahead and review and buy so confirm everything we're going to hit confirm so see that executed here so we just bought bitcoin right here you can see the green dot for it you can see the stop loss down here was
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immediately set at 35 400. you got a confirmation order up here as well which you can click out of and now you can see the stop loss set here okay you can go back to your trades here you can see the buy and the cells that we've made
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um today this will actually have all of your history here it's just that i created this account just to do this video for you guys and so now what we're looking at basically is now let's say that we want to close out this leveraged position in order to
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close this leverage position out it does not matter what leverage you are in we can be on a 2x leverage and we can now go sell at market here's our bitcoin our leveraged position though is point zero zero one
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okay so you wanna make sure that whatever your leveraged position is you opened you close out that same amount otherwise you're going to open up a short position we'll talk about that here in a minute and what a short position is so let's go
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point zero zero one and now we are selling at market and we're gonna go ahead review and sell and we're gonna confirm this cell and now you should see this switch over ding we filled okay so our our leveraged position has
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been closed out but look what's over here still we still have this stop loss sitting here okay this is very very important it's also why i use a third-party software for this because their interface kind of sucks in
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disregards but we need to close this out we need to manually exit this so there's a danger here there's a big warning that says if you fail to do this what's going to happen or could happen is let's say price drops
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all the way down here you were in a long position you closed it out you felt good about it you're like okay i'm i did good i'm not losing any money all sudden price drops all the way down here and it tags your stop loss
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okay that stop loss is now going to open up into a short position which means that you are now borrowing bitcoin selling it against the market with the intention to buy it lower
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and give the bitcoin back to the exchange okay this is what short selling is okay so i can short the market up here at 36 000 right now with the expectation that price is going
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to go down and the way that i make money off of this is that kraken loans me the ethereum or the bitcoin okay they loan me the bitcoin now kraken only wants the
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bitcoin back they don't care about the us dollar or how much bitcoin is worth so because of that i'm going to borrow the bitcoin i'm going to sell it at 36 000 and then i'm gonna buy the bitcoin back
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at 35 000 well by buying it back at 35 000 i have an extra 1 000 in my pocket and i give the bitcoin back to kraken kraken is happy because
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they got all their same amount of bitcoin back i'm happy because i have more us dollar in my pocket okay so this is what shorting the market means and we can open this up right now so i'm going to cancel out this stop loss here
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and we're going to short the market so i'm going to hit sell we're going to be at market here we could do a limit order as well it doesn't we're going to be on 5x leverage in this case when we close it out it doesn't matter which leverage we are on
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okay so let's go ahead and we're going to short the market here for .001 so now we're shorting the market for 36 bucks and we're going to create a conditional close which means i want my conditional close
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as a stop loss and i want it above price because remember we're shorting here so we're making money as the price drop we don't want it to go higher in price so we're going to set a stop loss up here at say 37 000 which means that if it's
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triggered we're going to pay 37 to get our bitcoin back and we are selling it for 36 dollars and 15 cents so unfortunately we're gonna have to pay a premium which means that
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we are paying 85 cents more for the bitcoin when we wanted to buy it back lower at a cheaper price in order to make cash difference off of it so let's go ahead and short the market we're going to confirm
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this cell so confirm cell now see we got our red dot right here and up here is our green dot which means buy because right now we we sold bitcoin with the intention of it
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going down and we want to buy it back down here now okay so in this regards we can set up a we can do a take profit up here we can come here and
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go to take profit we're going to take profit limit here and we're going to do it for the amount that we shorted so we want to take profit of 0.001 and we want to buy okay remember what we're doing here we're
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selling high and we're buying low now okay so we've shorted the market we want to buy down here at 35 800. so we're gonna type in profit price thirty five thousand eight hundred our limit price is where it's going to
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trigger at so thirty five thousand and we'll trigger it at say 799 and now we've got our total here is 35.8 so we sold it for 36.15
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and we're buying it back for 35.8 which means that we've now made about 35 cents on it okay so we have 35 extra cents in our pocket now uh for this trade if it works out so we're going to hit review
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and we're going to do buy so confirm here we're on leverage always make sure that your leveraged trades match up with a leveraged cell and we're going to hit confirm buy so you can see right here here's our green buy button now
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uh where we're going to buy our bitcoin back and give it back to kraken and we're going to pocket the difference into of cash into our pocket here okay so that's how we're set up here in regards
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to actually shorting the market you guys have questions feel free to drop them in the comments below i'd be more than happy to answer them for you but we've just walked through absolutely everything in regards to market orders take profit
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the only one that we haven't gone through now is settle position settle position is something that you're probably never going to use and basically the benefit of settle position is that you are avoiding fees now the reason why you're
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avoiding fees is because you are settling your collateral for the asset so in other words what this means is that if i have a if i've shorted the market
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for .001 bitcoin okay and i decide to settle position so we can come down here and we can go take profit so positions here so when we go to positions you can see our short right
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now and it gives us our p l the p l does not calculate in the fees for being in a leveraged trade there are two different types of fees you have a rolling fee which means that every four hours you
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have point zero one two point zero two percent that is being charged to your um to your base currency okay and then there is an open fee which is dependent upon whether or not
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you did a maker fee versus a taker fee okay a maker fee is a limit order okay because you're making the market you're putting something on the order book and making it a taker fee is a market order
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okay because you're taking from the market all right kind of an easy way to think about it in that sense there and so there's fee differences for either one it is better to do a limit order than it is to do a market order
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because it's nearly more than half the fee cost to do a limit than it is to do a market so much better to do limit orders in that sense and i'll show you one trick here too if you stick with me on how to do a limit order every single
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time and still have it execute almost instantaneously like a marketer okay so here's our short position if we click on it we have settle position right and settle position we go settle position here means that we are going to literally
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buy the bitcoin from kraken okay so they're no longer going to loan it to us they're just going to sell it to us now and the reason why we would do this is because we are down on the trade and so in order to save on
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fee cost we can avoid all the fees associated with buying and selling this if we just go ahead and take the asset ourselves so in this case we're just going to hold on to the bitcoin we're not going to give it back to crack
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and we're just going to buy it from them instead so that is what settle position means and the benefit of it is really just to avoid excess cost in fees cracking does have a tiered fee system so it means that the more trading volume
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you do the cheaper the fees get and let's go ahead and end on our last note here so we can go ahead and we're going to close this out let's just close position and we can this here will close it at market boom boom we're on leverage doesn't
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matter what leverage we're on we can go 3x review and buy confirm the buy so we shorted we bought it back now okay we took a small point two six percent loss there because we bought it higher rather than buying it lower after
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shorting the market and we're going to come back here and we're going to exit off these orders here so that they're not sitting on the chart anymore so now we've got a a blank slate we're ready to rock and roll and move forward here and we can bring this leverage
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all the way back down to zero and one thing that i want to show here next is buying bitcoin we can go point zero one okay and we're going to go limit order and this is where i want to show you how to use a limit order to execute almost
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instantaneously so that you get charged limit fees rather than getting charged taker fees which are 0.26 if you're just starting out versus 0.12 so a big difference and it adds up pretty quickly so in this
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case here what we're doing is if we're looking to buy bitcoin at spot right now we need somebody to sell it to us well on the order book here all these guys or gals are selling bitcoin right now okay and
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vice versa all these are down here buying right now so these are buy orders these are sell orders or if we're looking to buy we need somebody to sell it to us so we can just literally click on somebody in here okay and you can try and get it as like the
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best deal by clicking right there but it moves pretty quick so if you just click one or two above okay the spreads still not going to be too bad just going to click that hit review and buy confirm buy boom okay and there it is you had a
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limit order okay it was a specific price that you sold at so you got charged less in fees and it executed almost instantaneously um we can do this with selling as well so if we go to sell we have point zero three bitcoin here
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and we wanna sell point zero one okay we're going we're looking for a buyer now so we're just going to click somebody in here and we can do review and sell and confirming selling 36 bucks boom goes right on the order books filled
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almost immediately but we didn't pay so much big fees for it okay so that's one way that we can do this now since you guys made it here to the end i hope that you found this video beneficial i want to remind you to go and watch the free webinar that i've put
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together on three major breakthroughs and trading to creating a full-time income without working the full-time hours you can learn more about it at tradethewave.com i also want to introduce you to a third-party software that i use to help trade on crack and exchange
00:30:36
which has huge benefits to it i'll be putting out a video that you guys can stay tuned for it might even be down in the comments or the description below by the time you watch this video and that is three commas smart trade i can connect that to kraken
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or to other exchanges and i can set up the stop-loss entry and take profits all at the same time and use the assistance assistance of a bot to help me with trading
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so that i'm not having to manage those positions separately like i was just showing you so very very powerful stuff uh as of right now at the making of this video uh which is february of 21 free commas does not have
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the ability to use leverage on kraken so it would only be for spot trading so just an fyi on that hopefully that will change here in the near future but as of right now you can only do spot trading and set those up in a bull market that's just
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fine um spot trading is good especially if you got a big enough account for it but otherwise that is uh something that is a downfall they do have multiple exchanges that you can connect to as well so just a heads up on that that if you're not in the us they're probably
00:31:40
a really really great platform to think about using with maybe buy bit or some other exchanges thanks so much for tuning in for this video guys i hope that you found it helpful and i will see you for the next one
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