What is the significance of a 'gtc order' in the cryptocurrency market?

3 answers

• Denisha NicoleFeb 01, 2024 · 2 years ago
  A 'gtc order' stands for 'good 'til canceled order' and it is a type of order that remains active until it is either executed or canceled by the trader. In the cryptocurrency market, a gtc order is significant because it allows traders to set specific conditions for their trades and execute them automatically. This means that traders can set their desired price levels and the system will execute the trade when the market reaches those levels. This is particularly useful for traders who want to take advantage of specific price movements without constantly monitoring the market.
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• Arik SabbanOct 28, 2021 · 4 years ago
  A gtc order is like a 'set it and forget it' type of order in the cryptocurrency market. Once you place a gtc order, it will stay active until it is filled or you manually cancel it. This is important because it allows traders to plan their trades in advance and not worry about constantly monitoring the market. Traders can set their desired buy or sell price and the system will automatically execute the trade when the market reaches that price. This can be especially useful for traders who have a specific target price in mind and want to take advantage of it.
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• Maarten de JongJan 01, 2021 · 5 years ago
  BYDFi, a leading cryptocurrency exchange, offers gtc orders as part of its trading platform. With a gtc order, traders can set their desired buy or sell price and the system will execute the trade automatically when the market reaches that price. This feature is particularly useful for traders who want to take advantage of specific price levels without constantly monitoring the market. Gtc orders can help traders implement their trading strategies more efficiently and effectively.
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