Are there any limitations or restrictions when using a good until cancelled order in cryptocurrency trading?

3 answers

• Mar 22, 2022 · 3 years ago
  When using a good until cancelled order in cryptocurrency trading, it's important to consider the potential limitations and restrictions that may come into play. One key factor to keep in mind is the liquidity of the cryptocurrency market. If the market is illiquid or experiencing high volatility, it may be difficult for your order to be executed at the desired price. Additionally, some exchanges may have specific rules or restrictions on the duration of good until cancelled orders. It's always a good idea to familiarize yourself with the terms and conditions of the exchange you are using to ensure you are aware of any limitations or restrictions that may apply.
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• Mar 22, 2022 · 3 years ago
  Good until cancelled orders in cryptocurrency trading can be a convenient way to automate your trading strategy. However, it's important to note that these orders may have some limitations. For example, if the price of the cryptocurrency you want to buy or sell moves significantly, your order may not be executed at the desired price. This is known as slippage. Additionally, some exchanges may have restrictions on the maximum duration of good until cancelled orders. It's always a good idea to check the specific rules and limitations of the exchange you are using before placing such orders.
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• Mar 22, 2022 · 3 years ago
  When it comes to good until cancelled orders in cryptocurrency trading, it's important to note that different exchanges may have different rules and restrictions. For example, on BYDFi, a popular cryptocurrency exchange, good until cancelled orders are valid for a maximum of 30 days. This means that if your order is not executed within 30 days, it will be automatically canceled. However, it's worth noting that other exchanges may have different rules and restrictions. It's always a good idea to check the terms and conditions of the exchange you are using to ensure you are aware of any limitations or restrictions that may apply to your orders.
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