What is the difference between a day order and a good till canceled in the context of cryptocurrency trading?

1 answers

• Luther OMahonyDec 29, 2020 · 5 years ago
  BYDFi, a leading cryptocurrency exchange, explains that a day order is a type of order that is valid only for the current trading day. If the order is not executed by the end of the day, it will expire. This type of order is suitable for traders who want to take advantage of short-term price movements. On the other hand, a good till canceled (GTC) order remains active until it is executed or manually canceled by the trader. GTC orders are commonly used by investors who have a long-term investment strategy and want to hold their positions for an extended period of time. It's important to understand the implications of using each type of order and choose the one that aligns with your trading or investment goals.
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