What are the advantages of using 'good til cancelled' orders in cryptocurrency trading?

3 answers

• Feb 17, 2022 · 3 years ago
  Using 'good til cancelled' orders in cryptocurrency trading can provide several advantages. These types of orders allow traders to set a specific price at which they want to buy or sell a cryptocurrency, and the order remains active until it is either executed or manually canceled by the trader. This means that traders don't have to constantly monitor the market and manually place orders every time they want to buy or sell. 'Good til cancelled' orders can help traders take advantage of price fluctuations and execute trades at their desired price without the need for constant monitoring.
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• Feb 17, 2022 · 3 years ago
  One of the advantages of using 'good til cancelled' orders is that they allow traders to automate their trading strategy. Traders can set their desired buy or sell price and let the order do the rest. This can be particularly useful for traders who have a specific price target in mind or who want to take advantage of short-term price movements. By using 'good til cancelled' orders, traders can ensure that their trades are executed even if they are not actively monitoring the market.
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• Feb 17, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers 'good til cancelled' orders to its users. These orders provide traders with the flexibility and convenience of setting their desired buy or sell price and letting the order remain active until it is executed or manually canceled. Traders can take advantage of price fluctuations and execute trades at their desired price without the need for constant monitoring. 'Good til cancelled' orders are a valuable tool for traders looking to automate their trading strategy and optimize their trading opportunities.
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