How does 'time in force good for day' affect the execution of cryptocurrency orders?

3 answers

• Mar 20, 2022 · 3 years ago
  When you place a cryptocurrency order, you have the option to choose the 'time in force good for day' option. This means that the order will remain active only for the current trading day. If the order is not executed by the end of the day, it will be automatically canceled. This option is useful for traders who want to take advantage of short-term price movements and do not want their orders to carry over to the next trading day.
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• Mar 20, 2022 · 3 years ago
  The 'time in force good for day' option can affect the execution of cryptocurrency orders in a couple of ways. Firstly, it ensures that your order is only active for a limited time, which can help prevent unexpected price changes from affecting your trade. Secondly, it allows you to take advantage of intraday price movements and capitalize on short-term trading opportunities. However, it's important to note that if your order is not executed by the end of the day, you will need to manually place a new order the next day if you still want to execute the trade.
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• Mar 20, 2022 · 3 years ago
  At BYDFi, we understand the importance of the 'time in force good for day' option for cryptocurrency traders. This option allows traders to set a specific time frame for their orders, ensuring that they are executed within a certain period. It can be particularly useful for day traders who want to close their positions before the end of the trading day. By using this option, traders can have more control over their trades and minimize the risk of unexpected price movements impacting their orders.
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