What are the advantages of using a GTC order in the crypto market?

3 answers

• Dec 25, 2021 · 3 years ago
  A GTC order is a type of order that remains active until it is either filled or canceled by the trader. It allows traders to set their desired price levels for buying or selling cryptocurrencies and ensures that their orders are executed even if they are not actively monitoring the market. This is particularly useful for traders who want to take advantage of specific price levels or execute long-term trading strategies without having to constantly monitor the market.
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• Dec 25, 2021 · 3 years ago
  Using a GTC order in the crypto market provides convenience and flexibility for traders. It allows them to set their desired price and forget about it, knowing that the order will be executed when the market reaches their specified price level. This eliminates the need for constant monitoring and manual order placement, saving time and effort for traders. Additionally, GTC orders can be used for both buying and selling cryptocurrencies, providing traders with the ability to automate their trading strategies and take advantage of market opportunities even when they are not actively trading.
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• Dec 25, 2021 · 3 years ago
  At BYDFi, we highly recommend using GTC orders in the crypto market. GTC orders offer traders the advantage of setting their desired price levels and ensuring their orders are executed even if they are not actively monitoring the market. This allows traders to take advantage of market movements and execute their trading strategies without the need for constant monitoring. Whether you are a short-term trader looking to capitalize on price fluctuations or a long-term investor looking to enter or exit positions at specific price levels, GTC orders can help you achieve your trading goals.
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