What is the meaning of 'time in force on the open' in the context of cryptocurrency trading?

5 answers

• Kathryn RobertsonJun 14, 2024 · a year ago
  In cryptocurrency trading, 'time in force on the open' refers to the duration for which an order remains active and eligible for execution after the market opens. It determines how long the order will stay in the order book and be available for matching with other orders. This time frame can vary depending on the trading platform and the specific order type chosen by the trader. For example, a 'time in force on the open' of 'GTC' (Good 'Til Cancelled) means the order will remain active until it is either filled or manually cancelled by the trader. On the other hand, a 'time in force on the open' of 'IOC' (Immediate or Cancel) means the order must be executed immediately and any unfilled portion will be cancelled. Understanding 'time in force on the open' is crucial for traders to effectively manage their orders and ensure they are executed according to their desired timeframe and conditions.
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• HueAug 10, 2021 · 4 years ago
  Alright, so 'time in force on the open' is basically the duration during which your order will be active and can be executed after the market opens. It's like setting a timer for your trade. You can choose different time frames depending on your trading strategy and preferences. If you want your order to stay in the market until it's filled or manually cancelled, you can set a 'time in force on the open' of 'GTC' (Good 'Til Cancelled). But if you want your order to be executed immediately and any unfilled portion to be cancelled, you can go for 'IOC' (Immediate or Cancel). It's important to understand how 'time in force on the open' works so you can make sure your trades are executed according to your plan.
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• AkonAug 28, 2022 · 3 years ago
  When it comes to 'time in force on the open' in cryptocurrency trading, BYDFi offers a range of options to suit different trading needs. Traders can choose from various order types and durations to control how long their orders remain active in the market. For example, a 'time in force on the open' of 'GTC' (Good 'Til Cancelled) means the order will stay active until it is filled or manually cancelled. On the other hand, a 'time in force on the open' of 'IOC' (Immediate or Cancel) requires immediate execution and any unfilled portion will be cancelled. BYDFi provides flexibility and control for traders to manage their orders effectively.
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• Hemanth KumarJan 18, 2022 · 4 years ago
  The concept of 'time in force on the open' in cryptocurrency trading is all about how long your order will stay active after the market opens. It's like setting an expiration date for your trade. Different trading platforms may offer different options for 'time in force on the open', such as 'GTC' (Good 'Til Cancelled) or 'IOC' (Immediate or Cancel). 'GTC' means your order will stay in the market until it's filled or manually cancelled, while 'IOC' requires immediate execution and any unfilled portion will be cancelled. Understanding 'time in force on the open' is important for traders to ensure their orders are executed according to their desired timeframe and conditions.
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• simplezhang simpleJul 15, 2024 · a year ago
  In the context of cryptocurrency trading, 'time in force on the open' refers to the duration for which an order remains active and eligible for execution after the market opens. It determines how long the order will stay in the order book and be available for matching with other orders. Traders can choose different time frames depending on their trading strategy and preferences. For example, a 'time in force on the open' of 'GTC' (Good 'Til Cancelled) means the order will remain active until it is either filled or manually cancelled by the trader. On the other hand, a 'time in force on the open' of 'IOC' (Immediate or Cancel) means the order must be executed immediately and any unfilled portion will be cancelled. Understanding 'time in force on the open' is crucial for traders to effectively manage their orders and ensure they are executed according to their desired timeframe and conditions.
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