How does 'time in force day' affect my cryptocurrency trades?

3 answers

• Dec 26, 2021 · 3 years ago
  Sure! The 'time in force day' option refers to the duration for which your order will remain active in the market. When you select this option, your order will stay open until the end of the trading day, regardless of whether it gets executed or not. This can be useful if you want to give your order more time to be filled. However, it also means that your order will be exposed to market fluctuations for a longer period, which can increase the risk of slippage or price changes. It's important to consider these factors before using the 'time in force day' option.
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• Dec 26, 2021 · 3 years ago
  The 'time in force day' feature is commonly used in cryptocurrency trading to keep an order active throughout the trading day. It allows traders to have more control over their orders and increases the chances of getting them executed. However, it's worth noting that market conditions can change rapidly, and prices can fluctuate significantly within a day. Therefore, while using the 'time in force day' option can be advantageous, it also carries the risk of potential losses if the market moves against your position.
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• Dec 26, 2021 · 3 years ago
  When it comes to the 'time in force day' option, BYDFi offers a great solution. By selecting this option, your order will remain active until the end of the trading day, providing you with ample time for execution. This feature is particularly beneficial for traders who prefer a longer time frame for their orders. However, it's important to monitor the market closely and be aware of any potential risks associated with extended exposure to market fluctuations.
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