Are there any risks or drawbacks to using good until canceled orders in the cryptocurrency market?

1 answers

• Nov 26, 2021 · 3 years ago
  Using good until canceled (GTC) orders in the cryptocurrency market can be a double-edged sword. On one hand, GTC orders provide convenience and automation, allowing you to set your desired buy or sell price and let the order execute automatically when the market reaches that level. This can save you time and effort compared to constantly monitoring the market and manually placing orders. On the other hand, GTC orders can also expose you to potential risks. For example, if the market experiences a sudden price drop or spike, your GTC order may get executed at a price that is significantly different from your intended price. Additionally, GTC orders may tie up your funds for an extended period of time, limiting your ability to take advantage of other investment opportunities. It's important to carefully consider these risks and drawbacks before using GTC orders in the cryptocurrency market.
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