What is the meaning of 'time in force' when trading cryptocurrencies?

3 answers

• Dec 14, 2021 · 3 years ago
  Sure! 'Time in force' is a term used in trading cryptocurrencies to specify how long an order will remain active before it is automatically canceled. It helps traders control the duration of their orders and manage their trading strategies. For example, if you set a 'time in force' of 'good till canceled', your order will remain active until it is manually canceled or executed. On the other hand, if you set a 'time in force' of 'immediate or cancel', your order will be executed immediately, and any remaining quantity will be canceled. It's an important parameter to consider when placing orders.
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• Dec 14, 2021 · 3 years ago
  Time in force is basically a way to tell the exchange how long you want your order to be active. It's like setting an expiration date for your order. Different time in force options are available, such as 'good till canceled', 'day', 'fill or kill', and 'immediate or cancel'. Each option has its own rules and implications. For example, if you choose 'good till canceled', your order will remain active until you manually cancel it, even if it takes days or weeks. On the other hand, if you choose 'day', your order will be automatically canceled at the end of the trading day if it hasn't been executed.
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• Dec 14, 2021 · 3 years ago
  When it comes to 'time in force', BYDFi takes a user-friendly approach. They offer various options to cater to different trading strategies. Traders can choose from 'good till canceled', 'day', 'fill or kill', and 'immediate or cancel'. Each option has its own advantages and considerations. For example, 'good till canceled' is suitable for long-term orders, while 'immediate or cancel' is ideal for quick trades. It's important to understand the implications of each option and choose the one that aligns with your trading goals.
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