What is the meaning of time in force in cryptocurrency trading?

3 answers

• Dec 16, 2021 · 3 years ago
  Time in force is a parameter in cryptocurrency trading that determines how long an order will remain active before it is canceled. It allows traders to specify the duration for which they want their order to be valid. For example, if you set a time in force of 'Good Till Cancelled', your order will remain active until it is manually canceled or executed. This is useful for long-term trading strategies or when you want to place an order and forget about it. However, it's important to note that some exchanges may have limitations on the maximum duration for certain time in force options.
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• Dec 16, 2021 · 3 years ago
  Time in force is like an expiration date for your order in cryptocurrency trading. It ensures that your order doesn't stay open indefinitely and helps prevent accidental trades. Different time in force options include 'Immediate or Cancel' (IOC), 'Fill or Kill' (FOK), and 'Good Till Time' (GTT). IOC means that if your order cannot be filled immediately, it will be canceled. FOK means that if your order cannot be filled completely, it will be canceled. GTT allows you to specify a specific time until which your order will remain active. Understanding and choosing the right time in force option is crucial for successful trading.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers various time in force options to cater to different trading strategies. Traders can choose from options like 'Good Till Cancelled', 'Immediate or Cancel', and 'Fill or Kill'. Each option has its own advantages and considerations. For example, 'Good Till Cancelled' is suitable for long-term trades, while 'Immediate or Cancel' is useful for executing orders quickly. It's important to understand the implications of each time in force option and choose the one that aligns with your trading goals and risk tolerance.
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