How does 'good for day' order type work in cryptocurrency exchanges?

3 answers

• Anmol KannaujiyaJan 27, 2024 · 2 years ago
  Sure! The 'good for day' order type, also known as GFD, is a type of order that remains active until the end of the trading day. If the order is not executed by the end of the day, it will be automatically canceled. This order type is commonly used by traders who want to buy or sell a specific cryptocurrency at a specific price within the day. It provides a time limit for the order to be executed, allowing traders to better manage their positions and take advantage of short-term price movements. It's a useful tool for active traders looking to make quick trades within a single trading day.
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• hongjie jingFeb 06, 2024 · 2 years ago
  The 'good for day' order type is pretty straightforward. When you place this type of order, it will remain active until the end of the trading day. If the order is not filled by the end of the day, it will expire and be canceled. This order type is commonly used by traders who want to take advantage of short-term price movements and have a specific price in mind for buying or selling a cryptocurrency. It allows traders to set a time limit for their orders, ensuring they don't remain open indefinitely. It's a useful tool for those who want to actively manage their trades and take advantage of intraday opportunities.
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• meryll koneSep 28, 2023 · 2 years ago
  At BYDFi, the 'good for day' order type is available for traders who want to execute their trades within a single trading day. When you place a 'good for day' order, it will remain active until the end of the trading day. If the order is not filled by the end of the day, it will be automatically canceled. This order type is commonly used by traders who want to set a specific price at which they want to buy or sell a cryptocurrency. It provides a time limit for the order to be executed, allowing traders to better manage their positions and take advantage of short-term price movements. It's a popular choice among active traders who want to make quick trades and capitalize on intraday opportunities.
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