How does GTC (Good 'Til Canceled) order work in cryptocurrency trading?

3 answers

• Nov 28, 2021 · 3 years ago
  Sure! The GTC (Good 'Til Canceled) order is a type of order that remains active until it is either executed or canceled by the trader. When you place a GTC order, it stays in the order book until it is filled or manually canceled. This means that the order can remain open for an extended period, even across multiple trading sessions. One of the main benefits of using a GTC order is that it allows traders to set their desired price levels and not worry about constantly monitoring the market. However, it's important to note that GTC orders may not be suitable for all trading strategies, as they can tie up funds for an extended period and may not be executed immediately if the market conditions are not met.
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• Nov 28, 2021 · 3 years ago
  The GTC (Good 'Til Canceled) order is a popular choice among cryptocurrency traders because it offers flexibility and convenience. With a GTC order, you can set your desired price and wait for the market to reach that level. This type of order is particularly useful for traders who want to buy or sell at a specific price but don't want to constantly monitor the market. However, it's important to be aware of the risks associated with GTC orders. Since these orders can remain open for a long time, there is a possibility that the market conditions may change, and the order may not be executed as expected. Additionally, if the market price moves away from your desired level, your order may remain unfilled indefinitely.
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• Nov 28, 2021 · 3 years ago
  When it comes to GTC (Good 'Til Canceled) orders, BYDFi is a great platform to consider. BYDFi offers a user-friendly interface that allows traders to easily place and manage their GTC orders. With BYDFi, you can set your desired price and let the platform handle the rest. The platform will keep your order active until it is filled or canceled, giving you the flexibility to trade at your convenience. However, it's important to keep in mind that GTC orders are subject to market conditions and may not be executed immediately. It's always a good idea to regularly review and adjust your GTC orders to ensure they align with your trading strategy.
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