How does the time-in-force parameter affect my cryptocurrency orders?

1 answers

• Nick JojoMay 05, 2024 · a year ago
  The time-in-force parameter is a feature that allows you to specify how long you want your cryptocurrency order to remain active in the market. It affects the execution of your trades by determining how long the order will stay open before it is either filled or canceled. The available options may vary depending on the exchange you are using, but common options include 'Good Till Cancelled' (GTC), 'Immediate or Cancel' (IOC), and 'Fill or Kill' (FOK). GTC orders remain active until manually canceled, IOC orders are executed immediately and any unfilled portion is canceled, and FOK orders must be filled completely or they are canceled. It's important to consider the time-in-force parameter when placing your orders to ensure they are executed according to your trading strategy and goals. Remember to check the specific options and their implications on the exchange you are using.
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