What is the meaning of 'time in force good till cancel' in the context of cryptocurrency trading?

3 answers

• Feb 18, 2022 · 3 years ago
  In cryptocurrency trading, 'time in force good till cancel' refers to an order type that remains active until it is manually canceled by the trader. This means that the order will stay in the order book until it is executed or canceled, regardless of the duration or trading sessions. It provides flexibility for traders who want to keep their orders active for an extended period of time, allowing them to take advantage of potential price movements. However, it's important to note that the order may not be executed immediately and could remain open for an indefinite period of time. Traders should carefully consider the risks and benefits before using this order type.
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• Feb 18, 2022 · 3 years ago
  Alright, so 'time in force good till cancel' is like a persistent order that stays in the system until you manually cancel it. It's handy if you want to keep your order active for a long time, but keep in mind that it may not get executed right away. So, if you're in no rush and want to wait for the right price, this order type could be useful. Just remember to monitor your open orders regularly and cancel them if necessary.
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• Feb 18, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also offers the 'time in force good till cancel' order type. With this order type, traders can keep their orders open until they are manually canceled. It's a convenient option for those who want to set and forget their orders, allowing them to focus on other aspects of trading. However, it's important to regularly review and adjust your open orders to ensure they align with your trading strategy. Remember, the cryptocurrency market is highly volatile, and market conditions can change rapidly.
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