What are the advantages of using the 'time in force day' option when trading cryptocurrencies?

3 answers

• Jan 20, 2022 · 3 years ago
  Using the 'time in force day' option when trading cryptocurrencies allows you to specify that your order should remain active only for the current trading day. This means that if your order is not filled during the day, it will be automatically canceled at the end of the trading day. This option can be useful if you want to take advantage of short-term price movements or if you have a specific trading strategy that requires quick execution. It helps you avoid the risk of your order being executed at unfavorable prices in the future.
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• Jan 20, 2022 · 3 years ago
  The 'time in force day' option is particularly useful in volatile cryptocurrency markets. By setting this option, you can ensure that your order is only active for a limited period, reducing the risk of unexpected price changes affecting your trade. It also helps prevent your order from being carried over to the next trading day, which could result in unfavorable execution prices. Overall, using the 'time in force day' option provides more control and flexibility in your trading activities.
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• Jan 20, 2022 · 3 years ago
  When it comes to the 'time in force day' option, BYDFi offers a user-friendly interface that allows you to easily set this option when placing your cryptocurrency trades. It's important to consider the advantages of using this option, such as avoiding overnight risks and taking advantage of short-term price movements. BYDFi understands the needs of cryptocurrency traders and provides the necessary tools to optimize your trading experience.
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