What is the meaning of 'time in force' in the context of digital currency trading?

3 answers

• BumpySirenJan 15, 2021 · 5 years ago
  Sure! 'Time in force' refers to the duration for which an order remains active in the market. When you place an order to buy or sell a digital currency, you can specify how long you want the order to stay active. Common time in force options include 'Good Till Cancelled' (GTC), which means the order remains active until it is manually cancelled, and 'Immediate or Cancel' (IOC), which means the order must be executed immediately or it will be cancelled. It's important to understand the time in force options available to you when placing orders to ensure your trades are executed according to your preferences.
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• Ayush PandeyJun 17, 2022 · 3 years ago
  In the context of digital currency trading, 'time in force' simply means how long your order will remain active in the market. It's like setting an expiration date for your order. This is important because the market is constantly changing, and if your order stays active for too long, the price may move away from your desired entry or exit point. By setting a specific time in force, you can control the duration for which your order will be active and increase the chances of it being executed at your desired price.
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• McCarty SantosOct 02, 2024 · a year ago
  When it comes to digital currency trading, 'time in force' refers to the duration for which your order will remain active in the market. Different exchanges may offer different time in force options, but the most common ones include 'Good Till Cancelled' (GTC), 'Immediate or Cancel' (IOC), and 'Fill or Kill' (FOK). GTC means your order will remain active until you manually cancel it, IOC means your order must be executed immediately or it will be cancelled, and FOK means your order must be executed in its entirety or it will be cancelled. Understanding the time in force options available to you is crucial for managing your trades effectively.
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