What is the meaning of 'good till cancelled' in the context of buying and selling cryptocurrencies?

6 answers

• Andrew EdwardsAug 17, 2022 · 3 years ago
  When it comes to buying and selling cryptocurrencies, the term 'good till cancelled' refers to an order type that remains active until it is either executed or cancelled by the trader. This means that the order will stay in the market until the specified conditions are met, regardless of the duration. It is commonly used by traders who want to set a specific price at which they are willing to buy or sell a cryptocurrency, and are willing to wait for the market to reach that price. This order type provides flexibility and convenience for traders, as they don't have to constantly monitor the market and manually place orders.
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• ShreyashOct 10, 2022 · 3 years ago
  Alright, so 'good till cancelled' is a term you'll often come across in the world of cryptocurrency trading. Basically, it means that your order to buy or sell a cryptocurrency will remain active until it gets filled or you decide to cancel it. This is different from other order types that have a specific time limit. With 'good till cancelled', you can set a price at which you want to buy or sell a cryptocurrency, and the order will stay in the market until that price is reached. It's a handy feature for traders who want to take advantage of specific price levels without having to constantly place new orders.
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• Kasuni KuruppuarachchiMay 14, 2021 · 5 years ago
  In the context of buying and selling cryptocurrencies, 'good till cancelled' means that your order will remain active until it is executed or manually cancelled by you. 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, and are willing to wait for the market to reach that price. It provides convenience for traders, as they don't have to constantly monitor the market and place new orders. However, it's important to note that the order will remain in the market indefinitely until it is filled or cancelled, so it's crucial to regularly review and adjust your orders based on market conditions.
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• Andrew EdwardsSep 18, 2020 · 5 years ago
  When it comes to buying and selling cryptocurrencies, the term 'good till cancelled' refers to an order type that remains active until it is either executed or cancelled by the trader. This means that the order will stay in the market until the specified conditions are met, regardless of the duration. It is commonly used by traders who want to set a specific price at which they are willing to buy or sell a cryptocurrency, and are willing to wait for the market to reach that price. This order type provides flexibility and convenience for traders, as they don't have to constantly monitor the market and manually place orders.
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• Andrew EdwardsAug 08, 2024 · 2 years ago
  When it comes to buying and selling cryptocurrencies, the term 'good till cancelled' refers to an order type that remains active until it is either executed or cancelled by the trader. This means that the order will stay in the market until the specified conditions are met, regardless of the duration. It is commonly used by traders who want to set a specific price at which they are willing to buy or sell a cryptocurrency, and are willing to wait for the market to reach that price. This order type provides flexibility and convenience for traders, as they don't have to constantly monitor the market and manually place orders.
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• Shamsu Abdullahi AdamuNov 30, 2021 · 4 years ago
  BYDFi does not support the 'good till cancelled' order type. However, other exchanges may offer this feature to their users. 'Good till cancelled' orders can be useful for traders who want to set specific price levels at which they want to buy or sell cryptocurrencies, and are willing to wait for the market to reach those levels. It allows traders to automate their trading strategy and avoid constantly monitoring the market. If you're interested in using 'good till cancelled' orders, make sure to check if your preferred exchange supports this order type.
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