What is the role of GTC (Good 'Til Canceled) orders in cryptocurrency trading?

3 answers

• Mar 20, 2022 · 3 years ago
  GTC orders play a crucial role in cryptocurrency trading. They allow traders to place buy or sell orders that remain active until they are filled or manually canceled. This means that GTC orders can stay open for an extended period, even across multiple trading sessions. Traders use GTC orders to set specific price levels at which they want to buy or sell cryptocurrencies, taking advantage of potential price movements. GTC orders provide flexibility and convenience, allowing traders to set their desired price targets and not miss out on trading opportunities.
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• Mar 20, 2022 · 3 years ago
  GTC orders are like the 'set it and forget it' option in cryptocurrency trading. Once you place a GTC order, it remains active until it gets executed or you manually cancel it. This is especially useful for traders who want to take advantage of specific price levels without constantly monitoring the market. GTC orders give traders the freedom to set their desired buy or sell prices and let the market do the rest. It's a popular strategy for long-term investors who want to enter or exit positions at specific price points.
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• Mar 20, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, recognizes the importance of GTC orders in trading. GTC orders allow traders to set their desired buy or sell prices and keep them active until they are filled or canceled. This feature provides traders with more control over their trading strategies and helps them take advantage of favorable market conditions. Whether you're a day trader or a long-term investor, GTC orders can be a valuable tool in your trading arsenal.
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