What is the difference between using 'time in force day' and 'time in force on close' for cryptocurrency trades?

5 answers

• Dec 18, 2021 · 3 years ago
  Sure! 'Time in force day' and 'time in force on close' are two different options that determine how long an order will remain active in the market. 'Time in force day' means that the order will only be valid for the current trading day. If the order is not executed by the end of the day, it will be automatically canceled. On the other hand, 'time in force on close' means that the order will remain active until the end of the trading day, regardless of whether it gets executed or not. This option is useful if you want to hold the order until the market closes, as it gives you more time for the order to be executed. However, keep in mind that if the order is not executed by the end of the day, it will still be canceled. So, the main difference between these two options is the duration of the order's validity in the market.
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• Dec 18, 2021 · 3 years ago
  Using 'time in force day' for cryptocurrency trades means that your order will only be valid for the current trading day. This option is suitable if you want to execute your trade quickly and don't want your order to remain active for an extended period. On the other hand, 'time in force on close' allows your order to stay active until the end of the trading day, giving it more time to be executed. This option is useful if you want to hold your position until the market closes and are willing to wait for a better price. However, if your order is not executed by the end of the day, it will be canceled. So, it's important to consider your trading strategy and goals when choosing between these two options.
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• Dec 18, 2021 · 3 years ago
  When it comes to cryptocurrency trades, 'time in force day' and 'time in force on close' are two different options that determine how long your order will remain active in the market. 'Time in force day' means that your order will only be valid for the current trading day, while 'time in force on close' allows your order to stay active until the end of the trading day. The choice between these two options depends on your trading strategy and goals. If you want to execute your trade quickly and don't want your order to remain active for a long time, 'time in force day' is a suitable option. On the other hand, if you want to hold your position until the market closes and are willing to wait for a better price, 'time in force on close' gives your order more time to be executed. However, it's important to note that if your order is not executed by the end of the day, it will be automatically canceled.
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• Dec 18, 2021 · 3 years ago
  As an expert in the field, I can tell you that 'time in force day' and 'time in force on close' are two important options to consider when trading cryptocurrencies. 'Time in force day' means that your order will only be valid for the current trading day, while 'time in force on close' allows your order to stay active until the end of the trading day. The choice between these two options depends on your trading strategy and preferences. If you want to execute your trade quickly and don't want your order to remain active for a long time, 'time in force day' is the way to go. On the other hand, if you want to hold your position until the market closes and are willing to wait for a better price, 'time in force on close' gives your order more time to be executed. Just keep in mind that if your order is not executed by the end of the day, it will be automatically canceled.
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• Dec 18, 2021 · 3 years ago
  BYDFi, as a leading cryptocurrency exchange, offers both 'time in force day' and 'time in force on close' options for cryptocurrency trades. 'Time in force day' means that your order will only be valid for the current trading day, while 'time in force on close' allows your order to stay active until the end of the trading day. The choice between these two options depends on your trading strategy and goals. If you want to execute your trade quickly and don't want your order to remain active for a long time, 'time in force day' is a suitable option. On the other hand, if you want to hold your position until the market closes and are willing to wait for a better price, 'time in force on close' gives your order more time to be executed. However, it's important to note that if your order is not executed by the end of the day, it will be automatically canceled.
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