Can you provide some examples of situations where a not-held order would be a suitable choice for cryptocurrency traders?

3 answers

• Jan 13, 2022 · 3 years ago
  A not-held order can be a suitable choice for cryptocurrency traders when they want to execute a large trade without impacting the market. For example, if a trader wants to buy a significant amount of Bitcoin without causing the price to surge, they can place a not-held order. This type of order allows the trader to specify the price range they are willing to pay, and the order is executed at the best available price within that range. By using a not-held order, the trader can avoid slippage and minimize market impact.
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• Jan 13, 2022 · 3 years ago
  Another situation where a not-held order can be beneficial is when a trader wants to take advantage of a specific price movement. For instance, if a trader believes that the price of Ethereum will decrease in the short term, they can place a not-held order to sell their Ethereum at a specific price. This way, they can ensure that their order is executed at the desired price, even if the market quickly moves against them. It provides traders with more control over their trades and helps them avoid potential losses.
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• Jan 13, 2022 · 3 years ago
  At BYDFi, we understand the importance of not-held orders for cryptocurrency traders. This type of order can be particularly useful when traders want to execute large trades or take advantage of specific price movements. It allows them to maintain control over their trades and minimize market impact. However, it's important to note that not-held orders may not be suitable for all trading strategies, and traders should carefully consider their individual circumstances before using this type of order.
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