Can you explain the concept of 'gtc time in force' and its relevance to cryptocurrency trading?

3 answers

• Carl WangDec 02, 2022 · 3 years ago
  The concept of 'gtc time in force' refers to 'good till canceled' orders in cryptocurrency trading. When you place a 'gtc' order, it means that the order remains active until it is either executed or canceled by the trader. This is particularly useful for traders who want to set long-term positions or execute trades at specific price levels. Gtc orders can help traders take advantage of market movements without having to constantly monitor the market. It is an important concept in cryptocurrency trading as it provides flexibility and convenience for traders.
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• Binyam KibromJun 04, 2022 · 3 years ago
  Sure, 'gtc time in force' is a term used in cryptocurrency trading to describe orders that remain active until they are manually canceled by the trader. When you place a 'gtc' order, it stays in the order book until it is executed or canceled. This is different from 'day time in force' orders, which are automatically canceled at the end of the trading day if not executed. Gtc orders are commonly used by traders who want to set long-term positions or execute trades at specific price levels. It allows them to take advantage of market movements without constantly monitoring the market.
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• Edoardo RossiJan 06, 2024 · 2 years ago
  BYDFi, a popular cryptocurrency exchange, offers the 'gtc time in force' option for traders. When you place a 'gtc' order on BYDFi, it remains active until it is executed or canceled by the trader. This feature is particularly useful for traders who want to set long-term positions or execute trades at specific price levels. It allows them to take advantage of market movements without having to constantly monitor the market. 'Gtc time in force' is an important concept in cryptocurrency trading as it provides flexibility and convenience for traders on BYDFi and other exchanges.
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