How does a good till cancelled order work in the context of digital currencies?

3 answers

• mohamed mFeb 03, 2024 · 2 years ago
  A good till cancelled (GTC) order is a type of order that remains active until it is either executed or cancelled by the trader. In the context of digital currencies, a GTC order allows traders to set a buy or sell order at a specific price that will remain open until it is filled or manually cancelled. This type of order is useful for traders who want to set a specific price target and are willing to wait for the market to reach that price. Once the price is reached, the order is executed automatically. It's important to note that GTC orders may remain open for an extended period of time, so it's essential for traders to regularly monitor their open orders to ensure they are still relevant and in line with their trading strategy.
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• Idoko Pius ocheOct 24, 2020 · 6 years ago
  Hey there! So, a good till cancelled order in the world of digital currencies is basically an order that stays active until it gets filled or you manually cancel it. It's a way for traders to set a specific price at which they want to buy or sell a digital currency and let the order stay open until the market reaches that price. Once the price is reached, the order gets executed automatically. It's a handy tool for traders who have a specific price target in mind and are willing to wait for the market to move in their favor. Just remember to keep an eye on your open orders to make sure they're still relevant to your trading strategy!
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• Jakub LukaszewskiJun 25, 2025 · a year ago
  A good till cancelled (GTC) order is a type of order that remains active until it is either executed or cancelled by the trader. It allows traders to set a buy or sell order at a specific price that will stay open until it is filled or manually cancelled. In the context of digital currencies, GTC orders are commonly used by traders to set price targets and automate their trading strategy. For example, if a trader wants to buy Bitcoin at a specific price, they can place a GTC order at that price and wait for the market to reach it. Once the price is reached, the order will be executed automatically. GTC orders are a convenient tool for traders who want to take advantage of price movements without constantly monitoring the market.
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