What is the difference between a good till canceled order and a market order in cryptocurrency trading?

3 answers

• Dec 27, 2021 · 3 years ago
  A good till canceled order, also known as a GTC order, is an order type that remains active until it is either filled or canceled by the trader. This means that the order will stay in the order book until it is executed or manually canceled. On the other hand, a market order is an order type that is executed immediately at the current market price. Market orders are typically used when the trader wants to buy or sell a cryptocurrency quickly, without waiting for a specific price. It's important to note that market orders may be subject to slippage, which is the difference between the expected price and the actual executed price. GTC orders, on the other hand, allow traders to set specific price levels and wait for the market to reach those levels before executing the order.
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• Dec 27, 2021 · 3 years ago
  When it comes to trading cryptocurrencies, a good till canceled order and a market order serve different purposes. A good till canceled order is ideal for traders who have a specific price in mind and are willing to wait for the market to reach that price. This type of order allows traders to set a target price and wait for the market to come to them. On the other hand, a market order is used when traders want to buy or sell a cryptocurrency at the current market price. Market orders are executed immediately and are useful for traders who want to enter or exit a position quickly. However, it's important to be aware that market orders may be subject to slippage, especially during periods of high volatility. So, it's important to consider the pros and cons of each order type before making a decision.
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• Dec 27, 2021 · 3 years ago
  In cryptocurrency trading, a good till canceled order and a market order are two different types of orders that traders can use to buy or sell cryptocurrencies. A good till canceled order, as the name suggests, remains active until it is canceled by the trader or filled by the market. This means that the order will stay in the order book until it is executed or manually canceled. On the other hand, a market order is an order type that is executed immediately at the current market price. Market orders are typically used when traders want to buy or sell a cryptocurrency quickly, without waiting for a specific price. It's important to note that market orders may be subject to slippage, which is the difference between the expected price and the actual executed price. So, if you have a specific price in mind and are willing to wait for the market to reach that price, a good till canceled order may be more suitable for you. However, if you want to enter or exit a position quickly and are not concerned about the exact price, a market order may be a better option.
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