How does the 'good til cancelled' order type work in the world of cryptocurrency trading?

1 answers

• Mar 06, 2022 · 3 years ago
  In the world of cryptocurrency trading, the 'good til cancelled' order type is a popular choice among traders. It allows them to set a specific price at which they want to buy or sell a cryptocurrency and keep the order active until it is filled or manually canceled. This order type provides flexibility and convenience, as it eliminates the need to constantly monitor the market and manually place orders. However, it's important to keep in mind that the order may not be executed immediately, especially if the market conditions are not favorable. Traders should carefully consider their trading strategy and set realistic price targets when using the 'good til cancelled' order type.
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